利时BEL20指数 (EuronextBEL20) 加自选

2025年7月，比利时的建筑产量同比增长1.3%，而前一个月下调后的增长率为1%。这一扩张是由专业建筑活动的反弹推动的（6月份为0.9%对-2.7%）。与此同时，建筑施工（-2%对0.8%）和土木工程（-3.1%对0.3%）的产量下降。经季节性调整的月度数据显示，7月份建筑活动增长2.2%，而6月份增长0.5%。

Belgium’s construction output rose by 1.3% year-on-year in July 2025, compared with a downwardly revised 1% increase in the previous month. The expansion was driven by a rebound in specialized construction activities (0.9% vs -2.7% in June). Meanwhile, production declined for building construction (-2% vs 0.8%) and civil engineering works (-3.1% vs 0.3%). On a seasonally adjusted monthly basis, construction activity grew by 2.2% in July after a 0.5% rise in June.

2025年7月，比利时的贸易顺差为21.481亿欧元，与去年同期的43.444亿欧元相比大幅收窄，因为出口下降幅度大于进口。出口同比下降8.7%，至416.232亿欧元，受欧盟国家（-7.7%）和非欧盟目的地（-10.8%）出境货物减少的影响。与此同时，进口额下降4.4%，至39.4751亿欧元，其中来自欧盟国家的采购量下降（-8.8%），而来自非欧盟国家的进口量增加（2.3%）。考虑到2025年前七个月，该国的贸易顺差为127.3170亿欧元，低于去年同期的143.81亿欧元。

Belgium recorded a trade surplus of EUR 2,148.1 million in July 2025, narrowing sharply from EUR 4,344.4 million in the same month of the previous year, as exports dropped more than imports. Year-on-year, exports declined by 8.7% to EUR 41,623.2 million, weighed down by lower outbound shipments to EU countries (-7.7%) and non-EU destinations (-10.8%). Meanwhile, imports fell by 4.4% to EUR 39,475.1 million, with purchases decreasing from EU countries (-8.8%), while increasing to non-EU countries (2.3%). Considering the first seven months of 2025, the country posted a trade surplus of EUR 12,731.7 million, down from EUR 14,381 million in the same period a year earlier.

2025年7月，比利时工业生产同比下降0.1%，与上个月下调后的2.7%增长率相反。收缩的主要原因是电力、天然气、蒸汽和空调供应进一步下降（-8.5%对-5.8%），再加上制造业产出增长放缓（+0.8%对+3.6%）。相比之下，采矿和采石产量反弹（+0.1%对-1.3%）。经季节性调整的月度数据显示，7月份工业生产增长1.1%，低于6月份的5.2%。

Belgium’s industrial production edged down 0.1% year-on-year in July 2025, reversing from a downwardly revised 2.7% growth in the previous month. The contraction was mainly driven by a further decline in electricity, gas, steam and air-conditioning supply (-8.5% vs -5.8%), coupled with slower growth in manufacturing output (+0.8% vs +3.6%). In contrast, mining and quarrying production rebounded (+0.1% vs -1.3%). On a seasonally adjusted monthly basis, industrial production rose 1.1% in July, slowing from a 5.2% increase in June.

截至2025年6月的三个月里，比利时的国内生产总值增长了0.2%，证实了早先的估计，较上一时期0.4%的增长有所放缓，这是一年来最快的增长。服务业（第一季度为0.2%对0.4%）和建筑业（0.2%对0.9%）的增长放缓，而工业（-0.1%对0.2%）则出现收缩。在需求方面，家庭消费（0.4%对0.5%）和政府支出（0.6%对-0.4%）都有所增加，但固定投资有所萎缩（-0.5%对0.4%）。与此同时，净出口拖累了经济增长，减少了0.1个百分点，出口下降了1.1%，进口下降了1%。与去年同期相比，国内生产总值在第一季度增长1.1%后，增长了1%，也符合初步估计。

Belgium’s GDP grew by 0.2% in the three months to June 2025, confirming earlier estimates, slowing from a 0.4% expansion in the prior period, which was the fastest in a year. Growth slowed in services (0.2% vs 0.4% in Q1) and construction (0.2% vs 0.9%), while industry (-0.1% vs 0.2%) contracted. On the demand side, both household consumption (0.4% vs 0.5%) and government spending (0.6% vs -0.4%) increased, but fixed investment shrank (-0.5% vs 0.4%). Meanwhile, net exports weighed on growth, subtracting 0.1 percentage point, with exports down 1.1% and imports falling 1%. Compared to the same period last year, the GDP expanded by 1%, after a 1.1% advance in Q1 and also in line with initial estimates.