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2023
Flag → Flag
Exports $3.54BRnk 21 / 220
2023
Flag → Flag
Top Product $569MCars
2023
Flag → Flag
Exports $1.71BRnk 10 / 211
2023
Flag → Flag
Top Product $94.3MPackaged Medicaments
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
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Economic Complexity (ECI) ECI 0.57Rnk 42 / 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$289BCURRENT US$
Rnk 48 / 195
2013-2023
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GDP GROWTH27.5%CURRENT US$
Rnk 119 / 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$27,331CURRENT US$
Rnk 50 / 196
2013-2023
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GDP PC GROWTH26.1%CURRENT US$
Rnk 84 / 195

About

Belgium-Portugal Trade: In 2023, Belgium exported $3.54B to Portugal. The main products that Belgium exported to Portugal were Cars ($569M), Packaged Medicaments ($275M), and Vaccines, blood, antisera, toxins and cultures ($211M). Over the past 5 years the exports of Belgium to Portugal have increased at an annualized rate of 5.01%, from $2.77B in 2018 to $3.54B in 2023.

In 2020, Belgium exported services to Portugal worth $556M, with Travel ($188M), Other business services ($122M), and Transportation ($93.7M) being the largest in terms of value.

Portugal-Belgium Trade: In 2023, Portugal exported $1.71B to Belgium. The main products that Portugal exported to Belgium were Packaged Medicaments ($94.3M), Nucleic Acids ($93.9M), and Navigation Equipment ($89.2M). Over the past 5 years the exports of Portugal to Belgium have increased at an annualized rate of 0.65%,  from $1.5B in 2018 to $1.71B in 2023.

In 2020, Portugal exported services to Belgium worth $764M, with Other business services ($234M), Travel ($230M), and Transportation ($142M) being the largest in terms of value.

Comparison: In 2023,  Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B). That same year, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 46 in total exports ($83B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €221M and imported €131M from Portugal, resulting in a positive trade balance of €90.4M. Between October 2023 and October 2024 the exports of Belgium have increased by €46.3M (26.4%) from €175M to €221M, while imports increased by €23.1M (21.5%) from €108M to €131M.

Trade In October 2024, the top exports of Belgium to Portugal were Cars, tractors, trucks & parts thereof. (€33.8M), Pharmaceutical products (€27.3M), Machinery, mechanical appliances, & parts (€18.5M), Iron & steel (€13M), and Plastics & articles thereof (€12M). In October 2024 the top imports of Belgium from Portugal were Electrical machinery and electronics (€20.1M), Cars, tractors, trucks & parts thereof. (€9.9M), Organic chemicals (€5.61M), Pharmaceutical products (€4.96M), and Plastics & articles thereof (€4.74M).

Growth In October 2024, the increase in Belgium's year-by-year exports to Portugal was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. (€9.71M or 40.3%), Iron & steel (€8.87M or 217%), and Machinery, mechanical appliances, & parts (€8.68M or 88.5%). In October 2024, the increase in Belgium's year-by-year imports  from Portugal was explained primarily by an increase in product imports  in Electrical machinery and electronics (€9.6M or 91%), Organic chemicals (€5.59M or 38.3k%), and Chemical products n.e.s. (€3.91M or 5.67k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€46.3M(26.4%)
IMPORT GROWTH (October 2023 - October 2024)€23.1M(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 Portugal and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Portugal and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $3.54B to Portugal. The main products exported from Belgium to Portugal were Cars ($569M), Packaged Medicaments ($275M), and Vaccines, blood, antisera, toxins and cultures ($211M). During the last 5 years the exports of Belgium to Portugal have increased at an annualized rate of 5.01%, from $2.77B in 2018 to $3.54B in 2023.

In 2018, Portugal exported $1.71B to Belgium. The main products exported from Portugal to Belgium were Packaged Medicaments ($94.3M), Nucleic Acids ($93.9M), and Navigation Equipment ($89.2M). During the last 5 years the exports of Portugal to Belgium have increased at an annualized rate of 0.65%, from $1.5B in 2023 to $1.71B in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Portugal
Top DestinationSpain$17.7B

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

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

In 2023, countries that imported more from Portugal than Belgium included Spain ($17.7B), Angola ($1.64B), and Morocco ($1.65B).

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

Comparative Advantage Belgium - Portugal

Flow
Scale

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

During 2023, Belgium had a large net trade with Portugal in the exports of Transportation ($846M), Chemical Products ($806M), and Machines ($369M).

During 2018, Portugal had a large net trade with Belgium in the exports of Chemical Products ($337M), Machines ($324M), and Transportation ($174M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Portugal+$69.6MRefined Petroleum
Top Product Potential Portugal Belgium+$74.7MCars

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 Portugal worth $556M, with Travel ($188M), Other business services ($122M), and Transportation ($93.7M) being the largest in terms of value.

In 2020, Portugal exported services to Belgium worth $764M, with Other business services ($234M), Travel ($230M), and Transportation ($142M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Portugal (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 Portugal. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Portugal. Similarly, a dot/product with the flag of Portugal indicates it has a comparative advantage over Belgium.

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

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