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2023
Flag → Flag
Exports $606MRnk 57 / 220
2023
Flag → Flag
Top Product $226MRefined Petroleum
2023
Flag → Flag
Exports $481MRnk 25 / 183
2023
Flag → Flag
Top Product $181MCoffee
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
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Economic Complexity (ECI) ECI 0.23Rnk 51 / 132
2023
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GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
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GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
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 GDP$363BCURRENT US$
Rnk 42 / 195
2013-2023
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GDP GROWTH-4.87%CURRENT US$
Rnk 176 / 195
2023
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GDP PC $54,701CURRENT US$
Rnk 20 / 195
2013-2023
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GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
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GDP PC$6,947CURRENT US$
Rnk 104 / 196
2013-2023
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GDP PC GROWTH-16.1%CURRENT US$
Rnk 173 / 195

About

Belgium-Colombia Trade: In 2023, Belgium exported $606M to Colombia. The main products that Belgium exported to Colombia were Refined Petroleum ($226M), Vaccines, blood, antisera, toxins and cultures ($77.7M), and Other Frozen Vegetables ($58.8M). Over the past 5 years the exports of Belgium to Colombia have increased at an annualized rate of 15.6%, from $294M in 2018 to $606M in 2023.

In 2004, Belgium exported services to Colombia worth $9.53M, with Services not allocated ($5.45M), Transportation ($1.36M), and Travel ($1.36M) being the largest in terms of value.

Colombia-Belgium Trade: In 2023, Colombia exported $481M to Belgium. The main products that Colombia exported to Belgium were Coffee ($181M), Bananas ($118M), and Coke ($51.7M). Over the past 5 years the exports of Colombia to Belgium have increased at an annualized rate of 3.97%,  from $396M in 2018 to $481M in 2023.

In 2023, Colombia 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, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €42.6M and imported €11.9M from Colombia, resulting in a positive trade balance of €30.7M. Between October 2023 and October 2024 the exports of Belgium have decreased by €-4.11M (-8.81%) from €46.7M to €42.6M, while imports increased by €1.31M (12.4%) from €10.6M to €11.9M.

Trade In October 2024, the top exports of Belgium to Colombia were Machinery, mechanical appliances, & parts (€9.5M), Pharmaceutical products (€7.9M), Cars, tractors, trucks & parts thereof. (€7.65M), Preparations of vegetables, fruit, nuts or... (€2.48M), and Optical, photo, & film equipment; medical... (€2.35M). In October 2024 the top imports of Belgium from Colombia were Edible fruits, nuts & fruit peels (€7.07M), Coffee, tea, mate & spices (€3.09M), Iron & steel (€3.04M), Mineral fuels, mineral oils and products... (€2.52M), and Unclassified (€1.79M).

Growth In October 2024, the decrease in Belgium's year-by-year exports to Colombia was explained primarily by an decrease in product exports in Pharmaceutical products (€-4.29M or -35.2%), Unclassified (€-2.29M or -61.4%), and Organic chemicals (€-1.53M or -84.5%). In October 2024, the increase in Belgium's year-by-year imports  from Colombia was explained primarily by an increase in product imports  in Edible fruits, nuts & fruit peels (€6.03M or 581%), Mineral fuels, mineral oils and products... (€2.42M or 2.55k%), and Sugars & confectioneries (€497k or 157%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-4.11M(-8.81%)
IMPORT GROWTH (October 2023 - October 2024)€1.31M(12.4%)

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 Colombia and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Colombia and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $606M to Colombia. The main products exported from Belgium to Colombia were Refined Petroleum ($226M), Vaccines, blood, antisera, toxins and cultures ($77.7M), and Other Frozen Vegetables ($58.8M). During the last 5 years the exports of Belgium to Colombia have increased at an annualized rate of 15.6%, from $294M in 2018 to $606M in 2023.

In 2018, Colombia exported $481M to Belgium. The main products exported from Colombia to Belgium were Coffee ($181M), Bananas ($118M), and Coke ($51.7M). During the last 5 years the exports of Colombia to Belgium have increased at an annualized rate of 3.97%, from $396M in 2023 to $481M in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Colombia
Top DestinationUnited States$14.8B

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

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

In 2023, countries that imported more from Colombia than Belgium included Panama ($4.66B), Ecuador ($2.19B), and Peru ($1.2B).

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

Comparative Advantage Belgium - Colombia

Flow
Scale

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

During 2023, Belgium had a large net trade with Colombia in the exports of Mineral Products ($226M), Chemical Products ($186M), and Foodstuffs ($68.6M).

During 2018, Colombia had a large net trade with Belgium in the exports of Vegetable Products ($313M), Mineral Products ($109M), and Foodstuffs ($25M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Colombia+$70.4MRefined Petroleum
Top Product Potential Colombia Belgium+$13.4MCoal Briquettes

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

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

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