At 14.5 percent, the Belgian economy shrank a lot more than the Dutch economy (9.5 percent) in the second quarter of 2020, reports the Central Bureau of Statistics Monday. This is mainly due to the stricter corona measures at our southern neighbors.
Especially in construction there is a big difference in the economic contraction between the countries. Dutch construction shrank by 3.5 percent in the second quarter compared to last year. In Belgium this sector shrank by 15.7 percent.
The biggest difference between the Dutch and Belgian corona measures is that keeping a distance was made compulsory for Belgian construction companies in March, while this became an urgent advice in the Netherlands. As a result, Belgian construction companies that could not keep their distance had to close their doors much more often, while most Dutch construction companies could remain open.
Because Dutch construction companies were able to remain open, construction production in the Netherlands hardly fell, while Belgian construction production fell by 40 percent in the second quarter. From May on, construction companies that could not keep their distance were allowed to reopen with a masking obligation, after which Belgian construction production recovered.
In Belgium, shops had to be closed
The turnover of the Belgian retail trade also fell a lot more sharply than the Dutch, partly because all non-essential stores in Belgium had to close from 17 March. In the Netherlands, these stores could simply remain open if they took sufficient measures.
In April, the turnover of the Belgian retail trade fell by 14 percent, while Dutch retail stores only suffered a slight loss. Dutch construction markets even achieved record turnover. The Belgian hardware stores remained closed until April 18.
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