Belgium (BEL) and Guinea (GIN) Trade | OEC - The Observatory of Economic Complexity

About

Belgium-Guinea In 2020, Belgium exported $148M to Guinea. The main products that Belgium exported to Guinea are Cars ($57.8M), Delivery Trucks ($24.3M), and Tractors ($6.02M). During the last 21 years the exports of Belgium to Guinea have increased at an annualized rate of 4.74%, from $56.1M in 1999 to $148M in 2020.

In 2020, Belgium did not export any services to Guinea.

Guinea-Belgium In 2020, Guinea exported $254M to Belgium. The main products that Guinea exported to Belgium were Gold ($250M), Diamonds ($2.92M), and Cocoa Beans ($595k). During the last 21 years the exports of Guinea to Belgium have increased at an annualized rate of 3.42%, from $125M in 1999 to $254M in 2020.

In 2020, Guinea did not export any services to Belgium.

Comparison In 2020, Belgium ranked 17 in the Economic Complexity Index (ECI 1.33), and 14 in total exports ($309B). That same year, Guinea ranked 124 in the Economic Complexity Index (ECI -1.64), and 82 in total exports ($11.6B).

Latest Trends

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November, 2022

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Overview In November 2022, Belgium exported €20.1M and imported €209k from Guinea, resulting in a positive trade balance of €19.9M. Between November 2021 and November 2022 the exports of Belgium have increased by €5.6M (38.5%) from €14.5M to €20.1M, while imports increased by €124k (145%) from €85.6k to €209k.

Trade In November 2022, the top exports of Belgium to Guinea were Cars, tractors, trucks & parts thereof. (€11M), Machinery, mechanical appliances, & parts (€945k), Electrical machinery and electronics (€304k), Iron or steel articles (€234k), and Preparations of vegetables, fruit, nuts or... (€145k). In November 2022 the top imports of Belgium from Guinea were Cocoa & cocoa preparations (€146k), Machinery, mechanical appliances, & parts (€24.5k), Used clothes & textile articles (€18.7k), Knitted clothing accesories (€2.48k), and Electrical machinery and electronics (€1.14k).

Growth In November 2022, the increase in Belgium's year-by-year exports to Guinea was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. (€5.21M or 89.5%), Electrical machinery and electronics (€212k or 228%), and Miscellaneous edible preparations (€91k or 571%). In November 2022, the increase in Belgium's year-by-year imports from Guinea was explained primarily by an increase in product imports in Cocoa & cocoa preparations (€52.8k or 56.9%), Electrical machinery and electronics (€932 or 442%), and Edible vegetables, roots, & tubers (€807 or 412%).

Latest Trade

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Flow

Time Scale

Depth

Value

EXPORT GROWTH (November 2021 - November 2022): €5.6M, (38.5%)

IMPORT GROWTH (November 2021 - November 2022): €124k, (145%)

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 Guinea 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 2020, Belgium exported $148M to Guinea. The main products exported from Belgium to Guinea were Cars ($57.8M), Delivery Trucks ($24.3M), and Tractors ($6.02M). During the last 21 years the exports of Belgium to Guinea have increased at an annualized rate of 4.74%, from $56.1M in 1999 to $148M in 2020.

In 2020, Guinea exported $254M to Belgium. The main products exported from Guinea to Belgium were Gold ($250M), Diamonds ($2.92M), and Cocoa Beans ($595k). During the last 21 years the exports of Guinea to Belgium have increased at an annualized rate of 3.42%, from $125M in 1999 to $254M in 2020.

Market Competitiveness

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Measure

SectionYear

Belgium
Top Destination: Germany, $45.7B

Guinea
Top Destination: United Arab Emirates, $6.81B

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

In 2019, countries that imported more from Belgium than Guinea were Germany ($45.7B), France ($44.4B), and Netherlands ($37.1B).

In 2019, countries that imported more from Guinea than Belgium were United Arab Emirates ($6.81B).

Comparative Advantage Belgium - Guinea

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Flow

Scale

Year

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

During 2020, Belgium had a large net trade with Guinea in the exports of Transportation ($93.2M), Machines ($19.3M), and Metals ($8.48M).

During 2020, Guinea had a large net trade with Belgium in the exports of Precious Metals ($253M), Foodstuffs ($596k), and Metals ($114k).

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

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Latest Trends

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Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage Belgium - Guinea

Economic Complexity

Competitive Landscape

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