Belgium (BEL) and Canada (CAN) Trade | OEC - The Observatory of Economic Complexity

About

Belgium-Canada In 2021, Belgium exported $4.06B to Canada. The main products that Belgium exported to Canada are Tanks and Armored vehicles ($698M), Vaccines, blood, antisera, toxins and cultures ($623M), and Hormones ($499M). During the last 22 years the exports of Belgium to Canada have increased at an annualized rate of 8.1%, from $733M in 1999 to $4.06B in 2021.

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 In 2021, Canada exported $3.19B to Belgium. The main products that Canada exported to Belgium were Diamonds ($1.09B), Packaged Medicaments ($210M), and Iron Ore ($192M). During the last 22 years the exports of Canada to Belgium have increased at an annualized rate of 3.72%, from $1.43B in 1999 to $3.19B in 2021.

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 2021, Belgium ranked 18 in the Economic Complexity Index (ECI 1.28), and 15 in total exports ($403B). That same year, Canada ranked 32 in the Economic Complexity Index (ECI 0.9), and 9 in total exports ($484B).

Latest Trends

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February, 2023

About

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Overview In February 2023, Belgium exported €175M and imported €268M from Canada, resulting in a negative trade balance of €92.8M. Between February 2022 and February 2023 the exports of Belgium have decreased by €-224M (-56.1%) from €399M to €175M, while imports decreased by €-6.83M (-2.49%) from €275M to €268M.

Trade In February 2023, the top exports of Belgium to Canada were Pharmaceutical products (€199M), Organic chemicals (€34.8M), Mineral fuels, mineral oils and products... (€19.7M), Cars, tractors, trucks & parts thereof. (€11.9M), and Optical, photo, & film equipment; medical... (€7.31M). In February 2023 the top imports of Belgium from Canada were Precious stones, metals, & pearls (€131M), Pharmaceutical products (€32.7M), Ores, slag and ash (€21.7M), Oils seeds, oleaginous fruits, grains, straw... (€15M), and Fertilizers (€9.33M).

Growth In February 2023, the decrease in Belgium's year-by-year exports to Canada was explained primarily by an decrease in product exports in Organic chemicals (€-11.4M or -24.7%), Cars, tractors, trucks & parts thereof. (€-4.85M or -29%), and Zinc articles (€-899k or -99.6%). In February 2023, the decrease in Belgium's year-by-year imports from Canada was explained primarily by an decrease in product imports in Oils seeds, oleaginous fruits, grains, straw... (€-4.98M or -24.9%), Organic chemicals (€-3.39M or -87.3%), and Cereals (€-2.1M or -35.4%).

Latest Trade

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Flow

Time Scale

Depth

Value

EXPORT GROWTH (February 2022 - February 2023): €-224M, (-56.1%)

IMPORT GROWTH (February 2022 - February 2023): €-6.83M, (-2.49%)

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 Canada and Belgium trade dynamics, check the bilateral page.

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2021, Belgium exported $4.06B to Canada. The main products exported from Belgium to Canada were Tanks and Armored vehicles ($698M), Vaccines, blood, antisera, toxins and cultures ($623M), and Hormones ($499M). During the last 22 years the exports of Belgium to Canada have increased at an annualized rate of 8.1%, from $733M in 1999 to $4.06B in 2021.

In 2021, Canada exported $3.19B to Belgium. The main products exported from Canada to Belgium were Diamonds ($1.09B), Packaged Medicaments ($210M), and Iron Ore ($192M). During the last 22 years the exports of Canada to Belgium have increased at an annualized rate of 3.72%, from $1.43B in 1999 to $3.19B in 2021.

Market Competitiveness

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Color

SectionYear

Belgium
Top Destination: Germany, $62.7B

Canada
Top Destination: United States, $355B

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 2021, countries that imported more from Belgium than Canada were Germany ($62.7B), France ($59.9B), and Netherlands ($50.4B).

In 2021, countries that imported more from Canada than Belgium were United States ($355B), China ($22.5B), and Mexico ($7.14B).

Comparative Advantage Belgium - Canada

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Flow

Scale

Year

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

During 2021, Belgium had a large net trade with Canada in the exports of Chemical Products ($1.6B), Transportation ($919M), and Precious Metals ($295M).

During 2021, Canada had a large net trade with Belgium in the exports of Precious Metals ($1.1B), Chemical Products ($613M), and Vegetable Products ($409M).

Service Trade

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Bilateral Service Trade

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Can YearBel Year

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.

Economic Complexity

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Competitive Landscape

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Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Belgium has comparative advantage over Canada. Similarly, the more yellow a dot/product is, the more Canada has comparative advantage over Belgium.

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage Belgium - Canada

Service Trade

Bilateral Service Trade

Economic Complexity

Competitive Landscape

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