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2023
Flag → Flag
Exports $155MRnk 92 / 220
2023
Flag → Flag
Top Product $128MRefined Petroleum
2023
Flag → Flag
Exports $123MRnk 17 / 136
2023
Flag → Flag
Top Product $58.1MPrecious Metal Ore
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.85Rnk 105 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$45.1BCURRENT US$
Rnk 96 / 195
2013-2023
Flag
GDP GROWTH47.2%CURRENT US$
Rnk 80 / 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$3,686CURRENT US$
Rnk 135 / 196
2013-2023
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GDP PC GROWTH28.4%CURRENT US$
Rnk 82 / 195

About

Belgium-Bolivia Trade: In 2023, Belgium exported $155M to Bolivia. The main products that Belgium exported to Bolivia were Refined Petroleum ($128M), Large Construction Vehicles ($4.98M), and Organo-Sulfur Compounds ($4.39M). Over the past 5 years the exports of Belgium to Bolivia have increased at an annualized rate of 37.4%, from $31.7M in 2018 to $155M in 2023.

In 2023, Belgium did not export any services to Bolivia.

Bolivia-Belgium Trade: In 2023, Bolivia exported $123M to Belgium. The main products that Bolivia exported to Belgium were Precious Metal Ore ($58.1M), Zinc Ore ($25.2M), and Lead Ore ($21.4M). Over the past 5 years the exports of Bolivia to Belgium have decreased at an annualized rate of 6.22%,  from $170M in 2018 to $123M in 2023.

In 2023, Bolivia did not export any services to Belgium.

Comparison: In 2023,  Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B). That same year, Bolivia ranked 105 in the Economic Complexity Index (ECI -0.85), and 103 in total exports ($10.6B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €1.45M and imported €2.56M from Bolivia, resulting in a negative trade balance of €1.11M. Between October 2023 and October 2024 the exports of Belgium have decreased by €-597k (-29.1%) from €2.05M to €1.45M, while imports increased by €561k (28%) from €2M to €2.56M.

Trade In October 2024, the top exports of Belgium to Bolivia were Unclassified (€773k), Electrical machinery and electronics (€395k), Machinery, mechanical appliances, & parts (€314k), Cars, tractors, trucks & parts thereof. (€242k), and Food residues & wastes; animal fodder (€94.6k). In October 2024 the top imports of Belgium from Bolivia were Ores, slag and ash (€1.25M), Tin articles (€741k), Coffee, tea, mate & spices (€730k), Animal or vegetable fats, oils, &... (€3.31k), and Machinery, mechanical appliances, & parts (€451).

Growth In October 2024, the decrease in Belgium's year-by-year exports to Bolivia was explained primarily by an decrease in product exports in Machinery, mechanical appliances, & parts (€-73.1k or -18.9%), Pharmaceutical products (€-71.7k or -85.9%), and Paper articles (€-40.5k or -97.9%). In October 2024, the increase in Belgium's year-by-year imports  from Bolivia was explained primarily by an increase in product imports  in Coffee, tea, mate & spices (€730k or 36.5M%) and Tin articles (€527k or 247%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-597k(-29.1%)
IMPORT GROWTH (October 2023 - October 2024)€561k(28%)

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 Bolivia and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Bolivia and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $155M to Bolivia. The main products exported from Belgium to Bolivia were Refined Petroleum ($128M), Large Construction Vehicles ($4.98M), and Organo-Sulfur Compounds ($4.39M). During the last 5 years the exports of Belgium to Bolivia have increased at an annualized rate of 37.4%, from $31.7M in 2018 to $155M in 2023.

In 2018, Bolivia exported $123M to Belgium. The main products exported from Bolivia to Belgium were Precious Metal Ore ($58.1M), Zinc Ore ($25.2M), and Lead Ore ($21.4M). During the last 5 years the exports of Bolivia to Belgium have decreased at an annualized rate of 6.22%, from $170M in 2023 to $123M in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Bolivia
Top DestinationBrazil$1.54B

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

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

In 2023, countries that imported more from Bolivia than Belgium included Argentina ($1.15B), Peru ($622M), and Ecuador ($208M).

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

Comparative Advantage Belgium - Bolivia

Flow
Scale

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

During 2023, Belgium had a large net trade with Bolivia in the exports of Mineral Products ($128M), Machines ($12.8M), and Chemical Products ($9.69M).

During 2018, Bolivia had a large net trade with Belgium in the exports of Mineral Products ($105M), Metals ($12.4M), and Vegetable Products ($3.36M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Bolivia+$22.3MRefined Petroleum
Top Product Potential Bolivia Belgium+$1.99MRaw Tin

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 Bolivia. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Bolivia. Similarly, a dot/product with the flag of Bolivia indicates it has a comparative advantage over Belgium.

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

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