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Pricing

2023
Flag → Flag
Exports $186MRnk 86 / 220
2023
Flag → Flag
Top Product $24.9MVaccines, blood, antisera, toxins and cultures
2023
Flag → Flag
Exports $17.7MRnk 26 / 156
2023
Flag → Flag
Top Product $3.23MVanilla
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.15Rnk 117 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$15.8BCURRENT US$
Rnk 134 / 195
2013-2023
Flag
GDP GROWTH27.1%CURRENT US$
Rnk 120 / 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$506CURRENT US$
Rnk 192 / 196
2013-2023
Flag
GDP PC GROWTH-1.77%CURRENT US$
Rnk 155 / 195

About

Belgium-Madagascar Trade: In 2023, Belgium exported $186M to Madagascar. The main products that Belgium exported to Madagascar were Vaccines, blood, antisera, toxins and cultures ($24.9M), Cars ($21.6M), and Delivery Trucks ($12.7M). Over the past 5 years the exports of Belgium to Madagascar have increased at an annualized rate of 2.11%, from $167M in 2018 to $186M in 2023.

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

Madagascar-Belgium Trade: In 2023, Madagascar exported $17.7M to Belgium. The main products that Madagascar exported to Belgium were Vanilla ($3.23M), Cocoa Beans ($3M), and Graphite ($2.21M). Over the past 5 years the exports of Madagascar to Belgium have decreased at an annualized rate of 10%,  from $30M in 2018 to $17.7M in 2023.

In 2023, Madagascar 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, Madagascar ranked 117 in the Economic Complexity Index (ECI -1.15), and 133 in total exports ($4.3B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €4.41M and imported €1.67M from Madagascar, resulting in a positive trade balance of €2.74M. Between October 2023 and October 2024 the exports of Belgium have increased by €88.3k (2.04%) from €4.33M to €4.41M, while imports increased by €316k (23.3%) from €1.36M to €1.67M.

Trade In October 2024, the top exports of Belgium to Madagascar were Machinery, mechanical appliances, & parts (€1.03M), Cars, tractors, trucks & parts thereof. (€227k), Pharmaceutical products (€133k), Food residues & wastes; animal fodder (€83.7k), and Used clothes & textile articles (€74.1k). In October 2024 the top imports of Belgium from Madagascar were Coffee, tea, mate & spices (€821k), Salt, sulphur, cement, lime, stone, &... (€377k), Perfumery & cosmetics (€230k), Cocoa & cocoa preparations (€230k), and Preparations of vegetables, fruit, nuts or... (€134k).

Growth In October 2024, the increase in Belgium's year-by-year exports to Madagascar was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts (€899k or 690%), Food residues & wastes; animal fodder (€66.7k or 391%), and Pharmaceutical products (€38.7k or 40.9%). In October 2024, the increase in Belgium's year-by-year imports  from Madagascar was explained primarily by an increase in product imports  in Coffee, tea, mate & spices (€802k or 4.27k%), Salt, sulphur, cement, lime, stone, &... (€272k or 261%), and Preparations of vegetables, fruit, nuts or... (€130k or 2.73k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€88.3k(2.04%)
IMPORT GROWTH (October 2023 - October 2024)€316k(23.3%)

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 Madagascar and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Madagascar and Belgium Data

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Historical Data

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Madagascar
Top DestinationUnited States$669M

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

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

In 2023, countries that imported more from Madagascar than Belgium included Comoros ($7.69M).

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

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Madagascar+$4.64MRefined Petroleum
Top Product Potential Madagascar Belgium+$7.29MRaw Nickel

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

Product Space of Belgium (Flag) and Madagascar (Flag) (NaN)

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