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2023
Flag → Flag
Exports $63.7MRnk 127 / 220
2023
Flag → Flag
Top Product $7.78MPackaged Medicaments
2023
Flag → Flag
Exports $5.39MRnk 37 / 126
2023
Flag → Flag
Top Product $1.31MSeats
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.33Rnk 77 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$23.5BCURRENT US$
Rnk 115 / 195
2013-2023
Flag
GDP GROWTH84.3%CURRENT US$
Rnk 29 / 195
2023
Flag
GDP PC $54,701CURRENT US$
Rnk 20 / 195
2013-2023
Flag
GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
Flag
GDP PC$8,575CURRENT US$
Rnk 93 / 196
2013-2023
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GDP PC GROWTH94.3%CURRENT US$
Rnk 10 / 195

About

Belgium-Albania Trade: In 2023, Belgium exported $63.7M to Albania. The main products that Belgium exported to Albania were Packaged Medicaments ($7.78M), Cars ($7.16M), and Other Synthetic Fabrics ($5.72M). Over the past 5 years the exports of Belgium to Albania have increased at an annualized rate of 16.1%, from $30.2M in 2018 to $63.7M in 2023.

In 2003, Belgium exported services to Albania worth $1.26M, with Travel ($1.26M) being the largest in terms of value.

Albania-Belgium Trade: In 2023, Albania exported $5.39M to Belgium. The main products that Albania exported to Belgium were Seats ($1.31M), Aluminium Structures ($801k), and Plastic Building Materials ($364k). Over the past 5 years the exports of Albania to Belgium have increased at an annualized rate of 5.85%,  from $4.06M in 2018 to $5.39M in 2023.

In 2017, Albania exported services to Belgium worth $25M, with Travel ($12.9M), Other business services ($5.87M), and Transportation ($3.16M) being the largest in terms of value.

Comparison: In 2023,  Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B). That same year, Albania ranked 77 in the Economic Complexity Index (ECI -0.33), and 134 in total exports ($4.25B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €5.15M and imported €373k from Albania, resulting in a positive trade balance of €4.78M. Between October 2023 and October 2024 the exports of Belgium have increased by €930k (22%) from €4.22M to €5.15M, while imports decreased by €-359k (-49%) from €732k to €373k.

Trade In October 2024, the top exports of Belgium to Albania were Cars, tractors, trucks & parts thereof. (€453k), Optical, photo, & film equipment; medical... (€448k), Machinery, mechanical appliances, & parts (€185k), Mineral fuels, mineral oils and products... (€158k), and Pharmaceutical products (€122k). In October 2024 the top imports of Belgium from Albania were Furniture, bedding, lamps, & prefab buildings (€118k), Stone, plaster, cement, asbestos, mica. (€29k), Edible vegetables, roots, & tubers (€21.7k), Edible fruits, nuts & fruit peels (€15.9k), and Aluminum articles (€12.9k).

Growth In October 2024, the increase in Belgium's year-by-year exports to Albania was explained primarily by an increase in product exports in Optical, photo, & film equipment; medical... (€415k or 1.25k%), Cars, tractors, trucks & parts thereof. (€237k or 109%), and Iron/Steel Articles (€119k or 9.48k%). In October 2024, the decrease in Belgium's year-by-year imports  from Albania was explained primarily by an decrease in product imports  in Furniture, bedding, lamps, & prefab buildings (€-121k or -50.5%), Used clothes & textile articles (€-31.1k or -99.9%), and Aluminum articles (€-12.2k or -48.6%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€930k(22%)
IMPORT GROWTH (October 2023 - October 2024)€-359k(-49%)

This section shows exports and imports data at subnational level for Belgium. Click any date in the line plot or any product to explore the exports or imports behavior of Belgium over time.

To check Albania and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Albania and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $63.7M to Albania. The main products exported from Belgium to Albania were Packaged Medicaments ($7.78M), Cars ($7.16M), and Other Synthetic Fabrics ($5.72M). During the last 5 years the exports of Belgium to Albania have increased at an annualized rate of 16.1%, from $30.2M in 2018 to $63.7M in 2023.

In 2018, Albania exported $5.39M to Belgium. The main products exported from Albania to Belgium were Seats ($1.31M), Aluminium Structures ($801k), and Plastic Building Materials ($364k). During the last 5 years the exports of Albania to Belgium have increased at an annualized rate of 5.85%, from $4.06M in 2023 to $5.39M in 2018.

Exports from Belgium (Flag) to Albania (Flag) (2023)

Exports from Albania (Flag) to Belgium (Flag) (2023)

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Albania
Top DestinationItaly$1.72B

This map shows whether countries import more from Belgium or Albania. Each country is colored based on the difference in imports they receive from Belgium and Albania or the difference in the growth in imports.

In 2023, countries that imported more from Belgium than Albania included France ($85.6B), Netherlands ($67.3B), and Germany ($60.8B).

In 2023, countries that imported more from Albania than Belgium included Montenegro ($82.3M).

Difference in imports from Albania (Flag) and Belgium (Flag) (2023)

Comparative Advantage Belgium - Albania

Flow
Scale

This chart compares trade between Belgium and Albania by product, considering products traded by both, Belgium and Albania.

During 2023, Belgium had a large net trade with Albania in the exports of Chemical Products ($12.8M), Textiles ($10.3M), and Transportation ($9M).

During 2018, Albania had a large net trade with Belgium in the exports of Miscellaneous ($1.52M), Metals ($1.34M), and Machines ($761k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Albania+$4.36MVaccines, blood, antisera, toxins and cultures
Top Product Potential Albania Belgium+$1.06MSeats

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Belgium and Albania. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Albania. Similarly, a dot/product with the flag of Albania indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Albania (Flag) (2023)

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