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2022
Flag → Flag
Exports $126MRnk 84 / 222
2022
Flag → Flag
Top Product $73.4MRefined Petroleum
2022
Flag → Flag
Exports $13MRnk 20 / 105
2022
Flag → Flag
Top Product $3.15MDiamonds
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag
Economic Complexity (ECI) ECI -2.2Rnk 132 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$21.2BCURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP GROWTH178%CURRENT US$
Rnk 4 / 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$1,532CURRENT US$
Rnk 157 / 186
2012-2022
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GDP PC GROWTH116%CURRENT US$
Rnk 6 / 186

About

Belgium-Guinea Trade: In 2022, Belgium exported $126M to Guinea. The main products that Belgium exported to Guinea were Refined Petroleum ($73.4M), Cars ($44.5M), and Sauces and Seasonings ($21.7M). Over the past 5 years the exports of Belgium to Guinea have increased at an annualized rate of 17.9%, from $55.5M in 2017 to $126M in 2022.

In 2022, Belgium did not export any services to Guinea.

Guinea-Belgium Trade: In 2022, Guinea exported $13M to Belgium. The main products that Guinea exported to Belgium were Diamonds ($3.15M), Cocoa Beans ($1.54M), and Scrap Copper ($1.37M). Over the past 5 years the exports of Guinea to Belgium have decreased at an annualized rate of 36.4%,  from $125M in 2017 to $13M in 2022.

In 2022, Guinea did not export any services to Belgium.

Comparison: In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Guinea ranked 132 in the Economic Complexity Index (ECI -2.2), and 101 in total exports ($10.4B).

Latest Trends

March, 2024

About

Overview In March 2024, Belgium exported €37.5M and imported €644k from Guinea, resulting in a positive trade balance of €36.9M. Between March 2023 and March 2024 the exports of Belgium have decreased by €-19.8M (-34.6%) from €57.3M to €37.5M, while imports decreased by €-2.5M (-79.5%) from €3.15M to €644k.

Trade In March 2024, the top exports of Belgium to Guinea were Mineral fuels, mineral oils and products... (€56.1M), Mineral fuels, mineral oils and products... (€50.4M), Mineral fuels, mineral oils and products... (€48M), Mineral fuels, mineral oils and products... (€33.8M), and Mineral fuels, mineral oils and products... (€33.5M). In March 2024 the top imports of Belgium from Guinea were Precious stones, metals, & pearls (€87.2M), Precious stones, metals, & pearls (€79.5M), Precious stones, metals, & pearls (€68.2M), Precious stones, metals, & pearls (€61.1M), and Precious stones, metals, & pearls (€53.3M).

Growth In March 2024, the decrease in Belgium's year-by-year exports to Guinea was explained primarily by an decrease in product exports in . In March 2024, the decrease in Belgium's year-by-year imports  from Guinea was explained primarily by an decrease in product imports  in .

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (March 2023 - March 2024)€-19.8M(-34.6%)
IMPORT GROWTH (March 2023 - March 2024)€-2.5M(-79.5%)

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.

For full datasets download visit Bulk Download page.

Explore Guinea and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $126M to Guinea. The main products exported from Belgium to Guinea were Refined Petroleum ($73.4M), Cars ($44.5M), and Sauces and Seasonings ($21.7M). During the last 5 years the exports of Belgium to Guinea have increased at an annualized rate of 17.9%, from $55.5M in 2017 to $126M in 2022.

In 2017, Guinea exported $13M to Belgium. The main products exported from Guinea to Belgium were Diamonds ($3.15M), Cocoa Beans ($1.54M), and Scrap Copper ($1.37M). During the last 18 years the exports of Guinea to Belgium have decreased at an annualized rate of 36.4%, from $125M in 1999 to $13M in 2017.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Guinea
Top DestinationChina$3.81B

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

In 2022, countries that imported more from Guinea than Belgium included Brunei ($36.8M).

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

Comparative Advantage Belgium - Guinea

Flow
Scale

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

During 2022, Belgium had a large net trade with Guinea in the exports of Mineral Products ($86.7M), Transportation ($70.9M), and Foodstuffs ($27.8M).

During 2017, Guinea had a large net trade with Belgium in the exports of Precious Metals ($3.15M), Foodstuffs ($1.54M), and Metals ($1.37M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Guinea+$13.3MRefined Petroleum
Top Product Potential Guinea Belgium+$2.1MDiamonds

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

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

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