The Public Administration and Defence output in Belgium showcased an initial modest growth between 2013 and 2016, with variations hovering around 1-2%. Growth gradually increased post-2017, with significant jumps in 2021 (5%) and 2022 (11%). By 2023, the output value stood prominently at 54.32 Billion Euros, marking a 6.4% increase from the previous year. Over the last five years, the compound annual growth rate (CAGR) was significantly robust at 5.65%, indicating a strong upward trend. Forecasted data predict sustained growth, with a 4.12% forecasted 5-year CAGR through 2028, coupled with an overall growth rate of 22.38%
Future trends to watch for include potential impacts from policy changes, technological advancements in defence, and increased government spending which may influence this sector's ongoing growth trajectory in Belgium.
