Industrial News
Belgian industry in a dilemma between economic recession.
Jan
The Federation of Belgian Enterprises (FEB) has highlighted that Belgium’s manufacturing output has declined for six consecutive quarters, signifying a persistent recession in the nation’s economy.
This downturn is primarily attributed to escalating costs, including wage increases, energy expenses, and surging raw material prices, alongside rising interest rates that have exacerbated the financial challenges faced by businesses. Since the middle of 2023, the Belgian industrial sector has experienced a loss of 12,000 jobs.
Moreover, Belgian industries are confronted with external challenges, particularly from China’s low-price dumping, which is contributing to slowed growth, labor shortages, and increased costs. This situation is particularly pronounced in sectors such as chemicals, textiles, steel, automobile assembly, machinery manufacturing, information and communication technology, and telecommunications.