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2023
Flag → Flag
Exports $1.74BRnk 36 / 220
2023
Flag → Flag
Top Product $575MElectric Batteries
2023
Flag → Flag
Exports $2.66BRnk 14 / 158
2023
Flag → Flag
Top Product $901MCars
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
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Economic Complexity (ECI) ECI 1.09Rnk 25 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
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GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
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 GDP$1.79TCURRENT US$
Rnk 12 / 195
2013-2023
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GDP GROWTH34.8%CURRENT US$
Rnk 103 / 195
2023
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GDP PC $54,701CURRENT US$
Rnk 20 / 195
2013-2023
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GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
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GDP PC$13,790CURRENT US$
Rnk 75 / 196
2013-2023
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GDP PC GROWTH22.9%CURRENT US$
Rnk 94 / 195

About

Belgium-Mexico Trade: In 2023, Belgium exported $1.74B to Mexico. The main products that Belgium exported to Mexico were Electric Batteries ($575M), Cars ($144M), and Vaccines, blood, antisera, toxins and cultures ($66.8M). Over the past 5 years the exports of Belgium to Mexico have increased at an annualized rate of 10.7%, from $1.05B in 2018 to $1.74B in 2023.

In 2020, Belgium exported services to Mexico worth $342M, with Other business services ($263M), Transportation ($25.1M), and Insurance services ($21.7M) being the largest in terms of value.

Mexico-Belgium Trade: In 2023, Mexico exported $2.66B to Belgium. The main products that Mexico exported to Belgium were Cars ($901M), Medical Instruments ($897M), and Saturated Acyclic Monocarboxylic Acids ($133M). Over the past 5 years the exports of Mexico to Belgium have increased at an annualized rate of 2.58%,  from $2.34B in 2018 to $2.66B in 2023.

In 2023, Mexico 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, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B).

Latest Trends

November, 2024

About

Overview In November 2024, Belgium exported €133M and imported €145M from Mexico, resulting in a negative trade balance of €12M. Between November 2023 and November 2024 the exports of Belgium have increased by €19.7M (17.4%) from €113M to €133M, while imports decreased by €-39.7M (-21.5%) from €185M to €145M.

Trade In November 2024, the top exports of Belgium to Mexico were Electrical machinery and electronics (€74.4M), Machinery, mechanical appliances, & parts (€18M), Pharmaceutical products (€15.4M), Cars, tractors, trucks & parts thereof. (€7.97M), and Organic chemicals (€7.13M). In November 2024 the top imports of Belgium from Mexico were Cars, tractors, trucks & parts thereof. (€185M), Optical, photo, & film equipment; medical... (€76.9M), Ores, slag and ash (€14.2M), Electrical machinery and electronics (€12.7M), and Machinery, mechanical appliances, & parts (€11.6M).

Growth In November 2024, the increase in Belgium's year-by-year exports to Mexico was explained primarily by an increase in product exports in Electrical machinery and electronics (€68.1M or 1.08k%), Machinery, mechanical appliances, & parts (€6.18M or 52.3%), and Iron/Steel Articles (€5.06M or 466%). In November 2024, the decrease in Belgium's year-by-year imports  from Mexico was explained primarily by an decrease in product imports  in Organic chemicals (€-3.05M or -25.7%), Precious stones, metals, & pearls (€-2.12M or -88.3%), and Plastics & articles thereof (€-973k or -14.8%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€19.7M(17.4%)
IMPORT GROWTH (November 2023 - November 2024)€-39.7M(-21.5%)

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 Mexico and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Mexico and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $1.74B to Mexico. The main products exported from Belgium to Mexico were Electric Batteries ($575M), Cars ($144M), and Vaccines, blood, antisera, toxins and cultures ($66.8M). During the last 5 years the exports of Belgium to Mexico have increased at an annualized rate of 10.7%, from $1.05B in 2018 to $1.74B in 2023.

In 2018, Mexico exported $2.66B to Belgium. The main products exported from Mexico to Belgium were Cars ($901M), Medical Instruments ($897M), and Saturated Acyclic Monocarboxylic Acids ($133M). During the last 5 years the exports of Mexico to Belgium have increased at an annualized rate of 2.58%, from $2.34B in 2023 to $2.66B in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Mexico
Top DestinationUnited States$456B

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

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

In 2023, countries that imported more from Mexico than Belgium included United States ($456B), Canada ($33B), and China ($15B).

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

Comparative Advantage Belgium - Mexico

Flow
Scale

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

During 2023, Belgium had a large net trade with Mexico in the exports of Machines ($812M), Chemical Products ($342M), and Transportation ($164M).

During 2018, Mexico had a large net trade with Belgium in the exports of Instruments ($920M), Transportation ($918M), and Machines ($273M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Mexico+$96.7MCars
Top Product Potential Mexico Belgium+$297MCars

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

Product Space of Belgium (Flag) and Mexico (Flag) (2023)

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