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2023
Flag → Flag
Exports $416MRnk 66 / 220
2023
Flag → Flag
Top Product $253MRefined Petroleum
2023
Flag → Flag
Exports $8.62MRnk 20 / 109
2023
Flag → Flag
Top Product $3.74MCocoa Beans
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI -2.18Rnk 131 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$22.2BCURRENT US$
Rnk 117 / 195
2013-2023
Flag
GDP GROWTH165%CURRENT US$
Rnk 4 / 195
2023
Flag
GDP PC $54,701CURRENT US$
Rnk 20 / 195
2013-2023
Flag
GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
Flag
GDP PC$1,541CURRENT US$
Rnk 166 / 196
2013-2023
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GDP PC GROWTH106%CURRENT US$
Rnk 7 / 195

About

Belgium-Guinea Trade: In 2023, Belgium exported $416M to Guinea. The main products that Belgium exported to Guinea were Refined Petroleum ($253M), Cars ($33.7M), and Sauces and Seasonings ($22M). Over the past 5 years the exports of Belgium to Guinea have increased at an annualized rate of 22.7%, from $150M in 2018 to $416M in 2023.

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

Guinea-Belgium Trade: In 2023, Guinea exported $8.62M to Belgium. The main products that Guinea exported to Belgium were Cocoa Beans ($3.74M), Diamonds ($3.28M), and Integrated Circuits ($406k). Over the past 5 years the exports of Guinea to Belgium have decreased at an annualized rate of 32.7%,  from $62.5M in 2018 to $8.62M in 2023.

In 2023, Guinea 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, Guinea ranked 131 in the Economic Complexity Index (ECI -2.18), and 83 in total exports ($18B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €12.7M and imported €1.97M from Guinea, resulting in a positive trade balance of €10.7M. Between October 2023 and October 2024 the exports of Belgium have increased by €1.89M (17.5%) from €10.8M to €12.7M, while imports increased by €505k (34.5%) from €1.47M to €1.97M.

Trade In October 2024, the top exports of Belgium to Guinea were Cars, tractors, trucks & parts thereof. (€5.23M), Miscellaneous edible preparations (€2.87M), Pharmaceutical products (€2.25M), Machinery, mechanical appliances, & parts (€987k), and Electrical machinery and electronics (€342k). In October 2024 the top imports of Belgium from Guinea were Coffee, tea, mate & spices (€81.8k), Soap, cleaners, candles, dental, modelling pastes (€7.04k), Coated, covered, & laminated fabrics for... (€3.37k), Non-knitted clothing accesories (€2.52k), and Edible vegetables, roots, & tubers (€784).

Growth In October 2024, the increase in Belgium's year-by-year exports to Guinea was explained primarily by an increase in product exports in Pharmaceutical products (€2.1M or 1.38k%), Optical, photo, & film equipment; medical... (€232k or 974%), and Iron & steel (€187k or 1.35k%). In October 2024, the increase in Belgium's year-by-year imports  from Guinea was explained primarily by an increase in product imports  in Coffee, tea, mate & spices (€81.6k or 33.3k%), Coated, covered, & laminated fabrics for... (€2.72k or 417%), and Perfumery & cosmetics (€37 or 88.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€1.89M(17.5%)
IMPORT GROWTH (October 2023 - October 2024)€505k(34.5%)

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 2023, Belgium exported $416M to Guinea. The main products exported from Belgium to Guinea were Refined Petroleum ($253M), Cars ($33.7M), and Sauces and Seasonings ($22M). During the last 5 years the exports of Belgium to Guinea have increased at an annualized rate of 22.7%, from $150M in 2018 to $416M in 2023.

In 2018, Guinea exported $8.62M to Belgium. The main products exported from Guinea to Belgium were Cocoa Beans ($3.74M), Diamonds ($3.28M), and Integrated Circuits ($406k). During the last 5 years the exports of Guinea to Belgium have decreased at an annualized rate of 32.7%, from $62.5M in 2023 to $8.62M in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Guinea
Top DestinationUnited Arab Emirates$9.05B

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

In 2023, countries that imported more from Guinea than Belgium included United Arab Emirates ($9.05B).

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

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 2023, Belgium had a large net trade with Guinea in the exports of Mineral Products ($273M), Transportation ($55.7M), and Foodstuffs ($32.3M).

During 2018, Guinea had a large net trade with Belgium in the exports of Foodstuffs ($3.78M), Precious Metals ($3.28M), and Machines ($605k).

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) (2023)

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