Belgian industrial output fell for the third consecutive year in 2024, with production dropping by 1.4%, according to statistics from Statbel and Eurostat.
This decline follows reductions in production at Belgian industrial firms in both 2022 and 2023, Belgian newspaper De Tijd reported on Thursday.
This decrease was primarily due to a drop in the production of cars, buses, and trucks in Belgium, which fell by 25.7%. Bus manufacturer Van Hool went bankrupt and both Audi Brussels in Vorst and Volvo Cars in Ghent produced fewer vehicles.
There was also a significant reduction in the production of IT and electronic equipment, which dropped by 14.6%. Other sectors, including producers of furniture, textiles and clothing, electricity, gas, rubber and plastics also experienced noticeable declines. However, the chemical and pharmaceutical industries recorded increased output, partially recovering after a sharp decline in 2023.
Despite this downturn, Belgium’s industry fared relatively well in 2024 compared to other countries. Germany saw a 4.6% decline in industrial output, the Netherlands a 1.8% drop, and France a smaller decrease of 0.3%.
Other indicators also point to the de-industrialisation of the Belgian economy. Industry's added value to the economy decreased by 1% in 2024 and was 4.7% lower than five years ago.
The sector is also providing fewer jobs for residents. The number of jobs in Belgian industry fell by 9,000 in the first nine months of 2024, and by 14,100 since the beginning of 2023.
