How strong does competition play in Belgian industries?

This article presents estimates of mark-ups in different industries within the Belgian market sector over the periods 1997-2008 and 2009-2020. The mark-up allows to evaluate the intensity of competition in a sector. Our results show that, on average, competition is weaker in services than in manufacturing.  Within manufacturing, there is little variation across sectors and over time. Within services, mark-up variations are more pronounced.