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2022
Flag → Flag
Exports $259MRnk 83 / 222
2022
Flag → Flag
Top Product $45.2MCoal Tar Oil
2022
Flag → Flag
Exports $63.7MRnk 20 / 194
2022
Flag → Flag
Top Product $18.6MPassenger and Cargo Ships
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$28.4BCURRENT US$
Rnk 105 / 186
2012-2022
Flag
GDP GROWTH13.5%CURRENT US$
Rnk 138 / 186
2022
Flag
GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
Flag
GDP PC$31,284CURRENT US$
Rnk 36 / 186
2012-2022
Flag
GDP PC GROWTH7.9%CURRENT US$
Rnk 123 / 186

About

Belgium-Cyprus Trade: In 2022, Belgium exported $259M to Cyprus. The main products that Belgium exported to Cyprus were Coal Tar Oil ($45.2M), Cars ($17.5M), and Packaged Medicaments ($15.8M). Over the past 5 years the exports of Belgium to Cyprus have increased at an annualized rate of 2.02%, from $235M in 2017 to $259M in 2022.

In 2020, Belgium exported services to Cyprus worth $143M, with Transportation ($49.1M), Computer and information services ($37.7M), and Other business services ($34.3M) being the largest in terms of value.

Cyprus-Belgium Trade: In 2022, Cyprus exported $63.7M to Belgium. The main products that Cyprus exported to Belgium were Passenger and Cargo Ships ($18.6M), Sulfates ($5.2M), and Packaged Medicaments ($4.54M). Over the past 5 years the exports of Cyprus to Belgium have decreased at an annualized rate of 5.69%,  from $85.4M in 2017 to $63.7M in 2022.

In 2020, Cyprus exported services to Belgium worth $10.3M, with Travel ($3.43M), Transportation ($2.28M), and Financial services ($2.28M) being the largest in terms of value.

Comparison In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25),  and 13 in total exports ($475B). That same year, Cyprus ranked 125 in total exports ($4.91B), and does not have data regarding Economic Complexity Index.

Latest Trends

May, 2024

About

Overview In May 2024, Belgium exported €15M and imported €1.64M from Cyprus, resulting in a positive trade balance of €13.3M. Between May 2023 and May 2024 the exports of Belgium have decreased by €-2.16M (-12.6%) from €17.1M to €15M, while imports increased by €158k (10.7%) from €1.48M to €1.64M.

Trade In May 2024, the top exports of Belgium to Cyprus were Pharmaceutical products (€2.89M), Cars, tractors, trucks & parts thereof. (€2.2M), Machinery, mechanical appliances, & parts (€1.18M), Optical, photo, & film equipment; medical... (€751k), and Plastics & articles thereof (€585k). In May 2024 the top imports of Belgium from Cyprus were Organic chemicals (€227k), Animal originated products, n.e.s. (€199k), Electrical machinery and electronics (€184k), Inorganic chemicals (€150k), and Copper articles (€129k).

Growth In May 2024, the decrease in Belgium's year-by-year exports to Cyprus was explained primarily by an decrease in product exports in Pharmaceutical products (€-1.96M or -40.4%), Tobacco & substitutes (€-429k or -91.2%), and Beverages, spirits, & vinegar (€-222k or -64.1%). In May 2024, the increase in Belgium's year-by-year imports  from Cyprus was explained primarily by an increase in product imports  in Edible products of animal origin, n.e.s. (€105k or 691%), Pharmaceutical products (€41.4k or 52.7%), and Animal originated products, n.e.s. (€30.4k or 18%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (May 2023 - May 2024)€-2.16M(-12.6%)
IMPORT GROWTH (May 2023 - May 2024)€158k(10.7%)

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 Cyprus and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Cyprus and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $259M to Cyprus. The main products exported from Belgium to Cyprus were Coal Tar Oil ($45.2M), Cars ($17.5M), and Packaged Medicaments ($15.8M). During the last 5 years the exports of Belgium to Cyprus have increased at an annualized rate of 2.02%, from $235M in 2017 to $259M in 2022.

In 2017, Cyprus exported $63.7M to Belgium. The main products exported from Cyprus to Belgium were Passenger and Cargo Ships ($18.6M), Sulfates ($5.2M), and Packaged Medicaments ($4.54M). During the last 5 years the exports of Cyprus to Belgium have decreased at an annualized rate of 5.69%, from $85.4M in 2022 to $63.7M in 2017.

Exports from Belgium (Flag) to Cyprus (Flag) (2022)

Exports from Cyprus (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Cyprus
Top DestinationHong Kong$482M

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

In 2022, countries that imported more from Belgium than Cyprus included Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

In 2022, countries that imported more from Cyprus than Belgium included Liberia ($255M), Marshall Islands ($173M), and Seychelles ($70.8M).

Difference in imports from Cyprus (Flag) and Belgium (Flag) (2022)

Comparative Advantage Belgium - Cyprus

Flow
Scale

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

During 2022, Belgium had a large net trade with Cyprus in the exports of Mineral Products ($53.5M), Chemical Products ($37.7M), and Foodstuffs ($31.2M).

During 2017, Cyprus had a large net trade with Belgium in the exports of Transportation ($18.7M), Chemical Products ($15.8M), and Machines ($6.41M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Cyprus+N/AN/A
Top Product Potential Cyprus Belgium+N/AN/A

N/A

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Bilateral Service Trade

In 2020, Belgium exported services to Cyprus worth $143M, with Transportation ($49.1M), Computer and information services ($37.7M), and Other business services ($34.3M) being the largest in terms of value.

In 2020, Cyprus exported services to Belgium worth $10.3M, with Travel ($3.43M), Transportation ($2.28M), and Financial services ($2.28M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Cyprus (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 Cyprus. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Cyprus. Similarly, a dot/product with the flag of Cyprus indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Cyprus (Flag) (2022)

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