The production of chemical and pharmaceutical products in Belgium showed a varied trajectory from 2013 to 2023, with a significant dip in 2020 followed by a substantial rebound in 2021. As of 2023, the production stood at 59.94 billion Euros, marking a 2.02% increase from the previous year. Year-on-year variations reveal fluctuations with notable increases in 2021 and smaller decreases or modest growth in other years. The CAGR over the past five years indicates a moderate average annual growth of 2.46%.
Looking forward to the next five years, the production is forecasted to grow steadily, reaching 66.48 billion Euros by 2028. This suggests an average annual growth rate (CAGR) of 1.52%, with an overall growth rate of 7.82% over this period. Key future trends to watch include advancements in biopharmaceuticals, regulatory changes, and supply chain innovations that could significantly impact production dynamics.
