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2022
Flag → Flag
Exports $22.5BRnk 5 / 222
2022
Flag → Flag
Top Product $2.9BPackaged Medicaments
2022
Flag → Flag
Exports $23.2BRnk 7 / 221
2022
Flag → Flag
Top Product $8.88BPackaged Medicaments
2022
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Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
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Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
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GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
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 GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
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GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
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GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
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GDP PC$34,158CURRENT US$
Rnk 30 / 186
2012-2022
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GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186

About

Belgium-Italy Trade: In 2022, Belgium exported $22.5B to Italy. The main products that Belgium exported to Italy were Packaged Medicaments ($2.9B), Vaccines, blood, antisera, toxins and cultures ($2.08B), and Cars ($740M). Over the past 5 years the exports of Belgium to Italy have increased at an annualized rate of 4.92%, from $17.7B in 2017 to $22.5B in 2022.

In 2020, Belgium exported services to Italy worth $2.83B, with Other business services ($1.04B), Transportation ($716M), and Computer and information services ($545M) being the largest in terms of value.

Italy-Belgium Trade: In 2022, Italy exported $23.2B to Belgium. The main products that Italy exported to Belgium were Packaged Medicaments ($8.88B), Vaccines, blood, antisera, toxins and cultures ($1.4B), and Cars ($577M). Over the past 5 years the exports of Italy to Belgium have increased at an annualized rate of 9.75%,  from $14.6B in 2017 to $23.2B in 2022.

In 2020, Italy exported services to Belgium worth $2.19B, with Other business services ($1.21B), Travel ($640M), and Computer and information services ($140M) being the largest in terms of value.

Comparison: In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Latest Trends

July, 2024

About

Overview In July 2024, Belgium exported €1.24B and imported €1.35B from Italy, resulting in a negative trade balance of €109M. Between July 2023 and July 2024 the exports of Belgium have decreased by €-67.9M (-5.17%) from €1.31B to €1.24B, while imports increased by €183M (15.6%) from €1.17B to €1.35B.

Trade In July 2024, the top exports of Belgium to Italy were Pharmaceutical products (€264M), Plastics & articles thereof (€127M), Organic chemicals (€122M), Machinery, mechanical appliances, & parts (€110M), and Cars, tractors, trucks & parts thereof. (€108M). In July 2024 the top imports of Belgium from Italy were Pharmaceutical products (€608M), Machinery, mechanical appliances, & parts (€126M), Cars, tractors, trucks & parts thereof. (€101M), Plastics & articles thereof (€43.2M), and Electrical machinery and electronics (€38.7M).

Growth In July 2024, the decrease in Belgium's year-by-year exports to Italy was explained primarily by an decrease in product exports in Pharmaceutical products (€-168M or -39%), Organic chemicals (€-63.6M or -34.4%), and Chemical products n.e.s. (€-11.6M or -20.6%). In July 2024, the increase in Belgium's year-by-year imports  from Italy was explained primarily by an increase in product imports  in Pharmaceutical products (€49.2M or 8.81%), Cars, tractors, trucks & parts thereof. (€24.7M or 32.5%), and Chemical products n.e.s. (€15.9M or 108%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)€-67.9M(-5.17%)
IMPORT GROWTH (July 2023 - July 2024)€183M(15.6%)

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 Italy and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Italy and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $22.5B to Italy. The main products exported from Belgium to Italy were Packaged Medicaments ($2.9B), Vaccines, blood, antisera, toxins and cultures ($2.08B), and Cars ($740M). During the last 5 years the exports of Belgium to Italy have increased at an annualized rate of 4.92%, from $17.7B in 2017 to $22.5B in 2022.

In 2017, Italy exported $23.2B to Belgium. The main products exported from Italy to Belgium were Packaged Medicaments ($8.88B), Vaccines, blood, antisera, toxins and cultures ($1.4B), and Cars ($577M). During the last 5 years the exports of Italy to Belgium have increased at an annualized rate of 9.75%, from $14.6B in 2022 to $23.2B in 2017.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Italy
Top DestinationGermany$78.5B

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

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

In 2022, countries that imported more from Italy than Belgium included United States ($68.2B), Switzerland ($27.8B), and Spain ($32.8B).

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

Comparative Advantage Belgium - Italy

Flow
Scale

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

During 2022, Belgium had a large net trade with Italy in the exports of Chemical Products ($8.64B), Plastics and Rubbers ($2.62B), and Machines ($2.54B).

During 2017, Italy had a large net trade with Belgium in the exports of Chemical Products ($11.7B), Machines ($2.82B), and Transportation ($1.42B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Italy+$327MCars
Top Product Potential Italy Belgium+$238MCars

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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Bilateral Service Trade

In 2020, Belgium exported services to Italy worth $2.83B, with Other business services ($1.04B), Transportation ($716M), and Computer and information services ($545M) being the largest in terms of value.

In 2020, Italy exported services to Belgium worth $2.19B, with Other business services ($1.21B), Travel ($640M), and Computer and information services ($140M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Belgium (Flag) to Italy (Flag) (2020)

Services Exports from Italy (Flag) to Belgium (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Belgium and Italy. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Belgium.

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

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