Belgium: Net foreign assets (current LCU)

Key figures

What the numbers say

In 2024, Belgium's net foreign assets (current LCU) rose 42.8% on 2023 (from 126.31 billion to 180.33 billion).

Across the 22 yearly changes before that (2002 to 2023), the average change was +5.8% and a typical year strayed about 14.8% from that (the standard deviation). This year's change was 2.5 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 50.3% in 2002 and the biggest yearly fall was 17% in 2017. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 25% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Belgium had the 16th highest value of the 40 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Belgium in the 2024 ranking

• Kyrgyz Republic — 13th of 40: 533.83 billion
• United Kingdom — 14th of 40: 440.95 billion
• Peru — 15th of 40: 269.92 billion
• Spain — 17th of 40: 162.97 billion
• Nicaragua — 18th of 40: 161.92 billion
• Comoros — 19th of 40: 126.48 billion

What this measures

Net foreign assets are the sum of foreign assets held by monetary authorities and deposit money banks, less their foreign liabilities. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

All 24 values

Net foreign assets (current LCU) in nearby economies

• Albania — 1.12 trillion (2025)
• Armenia — 305.82 billion (2025)
• Austria — 113.77 billion (2024)
• Azerbaijan — 25.43 billion (2025)
• Belarus — 11.41 billion (2021)
• Bosnia and Herzegovina — 23.03 billion (2025)
• Bulgaria — 46.19 billion (2024)
• Croatia — 21.73 billion (2024)
• Cyprus — 31.88 billion (2024)
• Czechia — 2.73 trillion (2024)
• Denmark

More financial sector data for Belgium

• Consumer price index (2010 = 100) — 145.67 (2025)
• Inflation, consumer prices (annual % growth) — 2.47% (2025)
• GDP deflator (base year varies by country) — 120.8 (2025)
• DEC alternative conversion factor (LCU per US$) — US$0.88 (2025)
• Official exchange rate (LCU per US$, period average) — US$0.88 (2025)
• Inflation, GDP deflator (annual % growth) — 2.56% (2025)
• Real effective exchange rate index (2010 = 100) — 105.38 (2025)
• Market capitalization of listed domestic companies (current US$) — US$321.09 billion (2018)
• Market capitalization of listed domestic companies (% of GDP) — 59.17% (2018)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Belgium's net foreign assets (current LCU)?

180.33 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2001?

It is up 306.13% from 44.4 billion in 2001 (6.28% a year on average, compounded). The highest value was 180.33 billion in 2024 and the lowest 44.4 billion in 2001.

How does Belgium rank?

16th highest of 40 economies with data for 2024.

Is the latest change in net foreign assets (current LCU) unusual for Belgium?

In 2024, Belgium's net foreign assets (current LCU) rose 42.8% on 2023 (from 126.31 billion to 180.33 billion). Across the 22 yearly changes before that (2002 to 2023), the average change was +5.8% and a typical year strayed about 14.8% from that (the standard deviation). This year's change was 2.5 standard deviations above that average, so it was unusually large compared with the rest of the record.

Source

World Bank, World Development Indicators, indicator FM.AST.NFRG.CN, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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