Belgium (BEL) and Ghana (GHA) Trade | OEC - The Observatory of Economic Complexity

About

Belgium-Ghana In 2021, Belgium exported $382M to Ghana. The main products that Belgium exported to Ghana are Refined Petroleum ($82.3M), Vaccines, blood, antisera, toxins and cultures ($70.8M), and Delivery Trucks ($27.7M). During the last 22 years the exports of Belgium to Ghana have increased at an annualized rate of 4.02%, from $161M in 1999 to $382M in 2021.

In 2021, Belgium did not export any services to Ghana.

Ghana-Belgium In 2021, Ghana exported $114M to Belgium. The main products that Ghana exported to Belgium were Cocoa Beans ($64.4M), Other Pure Vegetable Oils ($18.6M), and Refined Petroleum ($15M). During the last 22 years the exports of Ghana to Belgium have increased at an annualized rate of 1.24%, from $87.1M in 1999 to $114M in 2021.

In 2021, Ghana did not export any services to Belgium.

Comparison In 2021, Belgium ranked 18 in the Economic Complexity Index (ECI 1.28), and 15 in total exports ($403B). That same year, Ghana ranked 118 in the Economic Complexity Index (ECI -1.27), and 84 in total exports ($14.1B).

Latest Trends

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February, 2023

About

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Overview In February 2023, Belgium exported €59.9M and imported €8.74M from Ghana, resulting in a positive trade balance of €51.2M. Between February 2022 and February 2023 the exports of Belgium have decreased by €-11.9M (-16.6%) from €71.8M to €59.9M, while imports increased by €1.36M (18.4%) from €7.38M to €8.74M.

Trade In February 2023, the top exports of Belgium to Ghana were Mineral fuels, mineral oils and products... (€27.4M), Pharmaceutical products (€8.66M), Machinery, mechanical appliances, & parts (€5.56M), Cars, tractors, trucks & parts thereof. (€4.13M), and Meat & edible offal (€1.26M). In February 2023 the top imports of Belgium from Ghana were Cocoa & cocoa preparations (€3.83M), Animal or vegetable fats, oils, &... (€1.96M), Wood, wood articles, & charcoal (€336k), Copper articles (€88.7k), and Edible fruits, nuts & fruit peels (€79.8k).

Growth In February 2023, the decrease in Belgium's year-by-year exports to Ghana was explained primarily by an decrease in product exports in Beverages, spirits, & vinegar (€-548k or -47.1%), Live animals (€-365k or -87%), and Plastics & articles thereof (€-242k or -52%). In February 2023, the increase in Belgium's year-by-year imports from Ghana was explained primarily by an increase in product imports in Animal or vegetable fats, oils, &... (€1.38M or 235%), Wood, wood articles, & charcoal (€195k or 139%), and Edible fruits, nuts & fruit peels (€33.8k or 73.4%).

Latest Trade

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Flow

Time Scale

Depth

Value

EXPORT GROWTH (February 2022 - February 2023): €-11.9M, (-16.6%)

IMPORT GROWTH (February 2022 - February 2023): €1.36M, (18.4%)

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 Ghana 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 $382M to Ghana. The main products exported from Belgium to Ghana were Refined Petroleum ($82.3M), Vaccines, blood, antisera, toxins and cultures ($70.8M), and Delivery Trucks ($27.7M). During the last 22 years the exports of Belgium to Ghana have increased at an annualized rate of 4.02%, from $161M in 1999 to $382M in 2021.

In 2021, Ghana exported $114M to Belgium. The main products exported from Ghana to Belgium were Cocoa Beans ($64.4M), Other Pure Vegetable Oils ($18.6M), and Refined Petroleum ($15M). During the last 22 years the exports of Ghana to Belgium have increased at an annualized rate of 1.24%, from $87.1M in 1999 to $114M in 2021.

Market Competitiveness

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Color

SectionYear

Belgium
Top Destination: Germany, $62.7B

Ghana
Top Destination: Switzerland, $2.44B

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

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

In 2021, countries that imported more from Ghana than Belgium were Burkina Faso ($264M).

Comparative Advantage Belgium - Ghana

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Flow

Scale

Year

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

During 2021, Belgium had a large net trade with Ghana in the exports of Chemical Products ($104M), Mineral Products ($83.4M), and Transportation ($51.2M).

During 2021, Ghana had a large net trade with Belgium in the exports of Foodstuffs ($67.8M), Animal and Vegetable Bi-Products ($18.6M), and Mineral Products ($15M).

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 Ghana. Similarly, the more yellow a dot/product is, the more Ghana has comparative advantage over Belgium.

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage Belgium - Ghana

Economic Complexity

Competitive Landscape

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