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2023
Flag → Flag
Exports $3.58BRnk 20 / 220
2023
Flag → Flag
Top Product $693MVaccines, blood, antisera, toxins and cultures
2023
Flag → Flag
Exports $3.49BRnk 14 / 215
2023
Flag → Flag
Top Product $1.66BDiamonds
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.9Rnk 30 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$2.14TCURRENT US$
Rnk 10 / 195
2013-2023
Flag
GDP GROWTH16%CURRENT US$
Rnk 150 / 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$53,431CURRENT US$
Rnk 22 / 196
2013-2023
Flag
GDP PC GROWTH1.51%CURRENT US$
Rnk 152 / 195

About

Belgium-Canada Trade: In 2023, Belgium exported $3.58B to Canada. The main products that Belgium exported to Canada were Vaccines, blood, antisera, toxins and cultures ($693M), Refined Petroleum ($437M), and Hormones ($345M). Over the past 5 years the exports of Belgium to Canada have increased at an annualized rate of 1.12%, from $3.39B in 2018 to $3.58B in 2023.

In 2020, Belgium exported services to Canada worth $344M, with Other business services ($175M), Transportation ($99.4M), and Computer and information services ($34.3M) being the largest in terms of value.

Canada-Belgium Trade: In 2023, Canada exported $3.49B to Belgium. The main products that Canada exported to Belgium were Diamonds ($1.66B), Iron Ore ($370M), and Packaged Medicaments ($314M). Over the past 5 years the exports of Canada to Belgium have increased at an annualized rate of 2.82%,  from $3.04B in 2018 to $3.49B in 2023.

In 2020, Canada exported services to Belgium worth $336M, with Financial services ($157M), Transportation ($49.2M), and Royalties and license fees ($46.2M) 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, Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €232M and imported €302M from Canada, resulting in a negative trade balance of €70.4M. Between October 2023 and October 2024 the exports of Belgium have decreased by €-245M (-51.4%) from €477M to €232M, while imports increased by €60.6M (25.1%) from €242M to €302M.

Trade In October 2024, the top exports of Belgium to Canada were Organic chemicals (€112M), Pharmaceutical products (€83.4M), Cars, tractors, trucks & parts thereof. (€22.1M), Mineral fuels, mineral oils and products... (€14.4M), and Machinery, mechanical appliances, & parts (€11.2M). In October 2024 the top imports of Belgium from Canada were Precious stones, metals, & pearls (€125M), Ores, slag and ash (€52.5M), Fertilizers (€22.1M), Pharmaceutical products (€17M), and Oils seeds, oleaginous fruits, grains, straw... (€11.1M).

Growth In October 2024, the decrease in Belgium's year-by-year exports to Canada was explained primarily by an decrease in product exports in Pharmaceutical products (€-115M or -58%), Mineral fuels, mineral oils and products... (€-5.27M or -26.8%), and Fertilizers (€-4.02M or -93.8%). In October 2024, the increase in Belgium's year-by-year imports  from Canada was explained primarily by an increase in product imports  in Ores, slag and ash (€30.8M or 142%), Fertilizers (€12.8M or 137%), and Cars, tractors, trucks & parts thereof. (€3.75M or 434%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-245M(-51.4%)
IMPORT GROWTH (October 2023 - October 2024)€60.6M(25.1%)

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 Canada and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Canada and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $3.58B to Canada. The main products exported from Belgium to Canada were Vaccines, blood, antisera, toxins and cultures ($693M), Refined Petroleum ($437M), and Hormones ($345M). During the last 5 years the exports of Belgium to Canada have increased at an annualized rate of 1.12%, from $3.39B in 2018 to $3.58B in 2023.

In 2018, Canada exported $3.49B to Belgium. The main products exported from Canada to Belgium were Diamonds ($1.66B), Iron Ore ($370M), and Packaged Medicaments ($314M). During the last 5 years the exports of Canada to Belgium have increased at an annualized rate of 2.82%, from $3.04B in 2023 to $3.49B in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Canada
Top DestinationUnited States$410B

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

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

In 2023, countries that imported more from Canada than Belgium included United States ($410B), China ($31.1B), and Japan ($13.4B).

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

Comparative Advantage Belgium - Canada

Flow
Scale

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

During 2023, Belgium had a large net trade with Canada in the exports of Chemical Products ($1.52B), Mineral Products ($659M), and Transportation ($370M).

During 2018, Canada had a large net trade with Belgium in the exports of Precious Metals ($1.67B), Chemical Products ($699M), and Mineral Products ($461M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Canada+$199MCars
Top Product Potential Canada Belgium+$107MPackaged Medicaments

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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Bilateral Service Trade

In 2020, Belgium exported services to Canada worth $344M, with Other business services ($175M), Transportation ($99.4M), and Computer and information services ($34.3M) being the largest in terms of value.

In 2020, Canada exported services to Belgium worth $336M, with Financial services ($157M), Transportation ($49.2M), and Royalties and license fees ($46.2M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Belgium (Flag) to Canada (Flag) (2020)

Services Exports from Canada (Flag) to Belgium (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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