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2023
Flag → Flag
Exports $721MRnk 49 / 220
2023
Flag → Flag
Top Product $311MRefined Petroleum
2023
Flag → Flag
Exports $154MRnk 23 / 172
2023
Flag → Flag
Top Product $51.1MCocoa Beans
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
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Economic Complexity (ECI) ECI -0.97Rnk 109 / 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$76.4BCURRENT US$
Rnk 82 / 195
2013-2023
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GDP GROWTH21.6%CURRENT US$
Rnk 135 / 195
2023
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GDP PC $54,701CURRENT US$
Rnk 20 / 195
2013-2023
Flag
GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
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GDP PC$2,260CURRENT US$
Rnk 152 / 196
2013-2023
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GDP PC GROWTH-1.47%CURRENT US$
Rnk 154 / 195

About

Belgium-Ghana Trade: In 2023, Belgium exported $721M to Ghana. The main products that Belgium exported to Ghana were Refined Petroleum ($311M), Vaccines, blood, antisera, toxins and cultures ($51.2M), and Poultry Meat ($42.1M). Over the past 5 years the exports of Belgium to Ghana have increased at an annualized rate of 2.8%, from $628M in 2018 to $721M in 2023.

In 2023, Belgium did not export any services to Ghana.

Ghana-Belgium Trade: In 2023, Ghana exported $154M to Belgium. The main products that Ghana exported to Belgium were Cocoa Beans ($51.1M), Precious Metal Scraps ($30.6M), and Other Pure Vegetable Oils ($23.5M). Over the past 5 years the exports of Ghana to Belgium have increased at an annualized rate of 11.7%,  from $88.4M in 2018 to $154M in 2023.

In 2023, Ghana 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, Ghana ranked 109 in the Economic Complexity Index (ECI -0.97), and 71 in total exports ($27.1B).

Latest Trends

November, 2024

About

Overview In November 2024, Belgium exported €69.9M and imported €13.6M from Ghana, resulting in a positive trade balance of €56.3M. Between November 2023 and November 2024 the exports of Belgium have increased by €12.1M (20.9%) from €57.8M to €69.9M, while imports increased by €6.04M (80.2%) from €7.53M to €13.6M.

Trade In November 2024, the top exports of Belgium to Ghana were Mineral fuels, mineral oils and products... (€29.5M), Pharmaceutical products (€12.1M), Copper articles (€1.77M), Cars, tractors, trucks & parts thereof. (€1.23M), and Machinery, mechanical appliances, & parts (€1.15M). In November 2024 the top imports of Belgium from Ghana were Cocoa & cocoa preparations (€4.33M), Animal or vegetable fats, oils, &... (€2.07M), Wood, wood articles, & charcoal (€675k), Machinery, mechanical appliances, & parts (€393k), and Cars, tractors, trucks & parts thereof. (€202k).

Growth In November 2024, the increase in Belgium's year-by-year exports to Ghana was explained primarily by an increase in product exports in Pharmaceutical products (€3.46M or 39.9%), Mineral fuels, mineral oils and products... (€2.11M or 7.71%), and Copper articles (€1.3M or 277%). In November 2024, the increase in Belgium's year-by-year imports  from Ghana was explained primarily by an increase in product imports  in Cocoa & cocoa preparations (€500k or 13.1%), Machinery, mechanical appliances, & parts (€386k or 5.82k%), and Wood, wood articles, & charcoal (€340k or 101%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€12.1M(20.9%)
IMPORT GROWTH (November 2023 - November 2024)€6.04M(80.2%)

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.

For full datasets download visit Bulk Download page.

Explore Ghana and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $721M to Ghana. The main products exported from Belgium to Ghana were Refined Petroleum ($311M), Vaccines, blood, antisera, toxins and cultures ($51.2M), and Poultry Meat ($42.1M). During the last 5 years the exports of Belgium to Ghana have increased at an annualized rate of 2.8%, from $628M in 2018 to $721M in 2023.

In 2018, Ghana exported $154M to Belgium. The main products exported from Ghana to Belgium were Cocoa Beans ($51.1M), Precious Metal Scraps ($30.6M), and Other Pure Vegetable Oils ($23.5M). During the last 5 years the exports of Ghana to Belgium have increased at an annualized rate of 11.7%, from $88.4M in 2023 to $154M in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Ghana
Top DestinationSwitzerland$6.49B

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

In 2023, countries that imported more from Ghana than Belgium included Switzerland ($6.49B), United Arab Emirates ($4.93B), and South Africa ($1.85B).

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

Comparative Advantage Belgium - Ghana

Flow
Scale

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

During 2023, Belgium had a large net trade with Ghana in the exports of Mineral Products ($316M), Chemical Products ($87.6M), and Machines ($70.2M).

During 2018, Ghana had a large net trade with Belgium in the exports of Foodstuffs ($55.8M), Precious Metals ($31.3M), and Animal and Vegetable Bi-Products ($23.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Ghana+$10.7MVaccines, blood, antisera, toxins and cultures
Top Product Potential Ghana Belgium+$4.13MCocoa Paste

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

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

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