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Pricing

2022
Flag → Flag
Exports $8.56BRnk 7 / 222
2022
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Top Product $1.2BVaccines, blood, antisera, toxins and cultures
2022
Flag → Flag
Exports $8.55BRnk 9 / 218
2022
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Top Product $1.68BCars
2022
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Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
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Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
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GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
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 GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
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GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
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GDP PC$29,350CURRENT US$
Rnk 40 / 186
2012-2022
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GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186

About

Belgium-Spain Trade: In 2022, Belgium exported $8.56B to Spain. The main products that Belgium exported to Spain were Vaccines, blood, antisera, toxins and cultures ($1.2B), Packaged Medicaments ($782M), and Cars ($710M). Over the past 5 years the exports of Belgium to Spain have increased at an annualized rate of 6.09%, from $6.37B in 2017 to $8.56B in 2022.

In 2020, Belgium exported services to Spain worth $1.92B, with Other business services ($810M), Transportation ($386M), and Computer and information services ($257M) being the largest in terms of value.

Spain-Belgium Trade: In 2022, Spain exported $8.55B to Belgium. The main products that Spain exported to Belgium were Cars ($1.68B), Refined Petroleum ($1.08B), and Delivery Trucks ($469M). Over the past 5 years the exports of Spain to Belgium have increased at an annualized rate of 20.3%,  from $3.4B in 2017 to $8.55B in 2022.

In 2020, Spain exported services to Belgium worth $789M, with Travel ($789M) 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, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Latest Trends

March, 2024

About

Overview In March 2024, Belgium exported €959M and imported €767M from Spain, resulting in a positive trade balance of €192M. Between March 2023 and March 2024 the exports of Belgium have increased by €76.5M (8.66%) from €883M to €959M, while imports decreased by €-90.8M (-10.6%) from €858M to €767M.

Trade In March 2024, the top exports of Belgium to Spain were Pharmaceutical products (€165M), Cars, tractors, trucks & parts thereof. (€117M), Plastics & articles thereof (€66.8M), Machinery, mechanical appliances, & parts (€60.2M), and Iron & steel (€39.9M). In March 2024 the top imports of Belgium from Spain were Cars, tractors, trucks & parts thereof. (€246M), Copper articles (€36.5M), Edible vegetables, roots, & tubers (€32.9M), Chemical products n.e.s. (€29.8M), and Edible fruits, nuts & fruit peels (€29M).

Growth In March 2024, the increase in Belgium's year-by-year exports to Spain was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. (€18.9M or 19.3%), Fertilizers (€18.5M or 471%), and Iron & steel (€18.1M or 82.8%). In March 2024, the decrease in Belgium's year-by-year imports  from Spain was explained primarily by an decrease in product imports  in Organic chemicals (€-8.11M or -49.6%), Art & antiques (€-2.92M or -86.8%), and Aluminum articles (€-2.15M or -16%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (March 2023 - March 2024)€76.5M(8.66%)
IMPORT GROWTH (March 2023 - March 2024)€-90.8M(-10.6%)

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 Spain and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Spain and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $8.56B to Spain. The main products exported from Belgium to Spain were Vaccines, blood, antisera, toxins and cultures ($1.2B), Packaged Medicaments ($782M), and Cars ($710M). During the last 5 years the exports of Belgium to Spain have increased at an annualized rate of 6.09%, from $6.37B in 2017 to $8.56B in 2022.

In 2017, Spain exported $8.55B to Belgium. The main products exported from Spain to Belgium were Cars ($1.68B), Refined Petroleum ($1.08B), and Delivery Trucks ($469M). During the last 18 years the exports of Spain to Belgium have increased at an annualized rate of 20.3%, from $3.4B in 1999 to $8.55B in 2017.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Spain
Top DestinationFrance$65.2B

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

In 2022, countries that imported more from Belgium than Spain included Germany ($91.9B), Netherlands ($65.7B), and United States ($29B).

In 2022, countries that imported more from Spain than Belgium included Portugal ($34.9B), Morocco ($12.1B), and Italy ($32.1B).

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

Comparative Advantage Belgium - Spain

Flow
Scale

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

During 2022, Belgium had a large net trade with Spain in the exports of Chemical Products ($3.63B), Transportation ($1.49B), and Plastics and Rubbers ($1.08B).

During 2017, Spain had a large net trade with Belgium in the exports of Transportation ($2.9B), Mineral Products ($1.47B), and Chemical Products ($1.45B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Spain+$234MCars
Top Product Potential Spain Belgium+$202MCars

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 Spain worth $1.92B, with Other business services ($810M), Transportation ($386M), and Computer and information services ($257M) being the largest in terms of value.

In 2020, Spain exported services to Belgium worth $789M, with Travel ($789M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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

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