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2023
Flag → Flag
Exports $2.17BRnk 30 / 220
2023
Flag → Flag
Top Product $259MPackaged Medicaments
2023
Flag → Flag
Exports $1.59BRnk 31 / 182
2023
Flag → Flag
Top Product $458MRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
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Economic Complexity (ECI) ECI 0.76Rnk 36 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
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GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$1.07TCURRENT US$
Rnk 19 / 195
2013-2023
Flag
GDP GROWTH41.6%CURRENT US$
Rnk 90 / 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$32,094CURRENT US$
Rnk 44 / 196
2013-2023
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GDP PC GROWTH17.6%CURRENT US$
Rnk 109 / 195

About

Belgium-Saudi Arabia Trade: In 2023, Belgium exported $2.17B to Saudi Arabia. The main products that Belgium exported to Saudi Arabia were Packaged Medicaments ($259M), Vaccines, blood, antisera, toxins and cultures ($234M), and Refined Petroleum ($192M). Over the past 5 years the exports of Belgium to Saudi Arabia have increased at an annualized rate of 12%, from $1.23B in 2018 to $2.17B in 2023.

In 2023, Belgium did not export any services to Saudi Arabia.

Saudi Arabia-Belgium Trade: In 2023, Saudi Arabia exported $1.59B to Belgium. The main products that Saudi Arabia exported to Belgium were Refined Petroleum ($458M), Ethylene Polymers ($210M), and Cyclic Hydrocarbons ($204M). Over the past 5 years the exports of Saudi Arabia to Belgium have decreased at an annualized rate of 2.02%,  from $1.76B in 2018 to $1.59B in 2023.

In 2023, Saudi Arabia 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, Saudi Arabia ranked 36 in the Economic Complexity Index (ECI 0.76), and 26 in total exports ($300B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €179M and imported €93.7M from Saudi Arabia, resulting in a positive trade balance of €85.7M. Between October 2023 and October 2024 the exports of Belgium have decreased by €-31.7M (-15%) from €211M to €179M, while imports increased by €8.48M (9.94%) from €85.2M to €93.7M.

Trade In October 2024, the top exports of Belgium to Saudi Arabia were Mineral fuels, mineral oils and products... (€50.1M), Pharmaceutical products (€43.9M), Preparations of vegetables, fruit, nuts or... (€18.1M), Plastics & articles thereof (€12.9M), and Machinery, mechanical appliances, & parts (€10.1M). In October 2024 the top imports of Belgium from Saudi Arabia were Organic chemicals (€43.5M), Plastics & articles thereof (€36.3M), Rubber & articles thereof (€5.94M), Copper articles (€885k), and Mineral fuels, mineral oils and products... (€676k).

Growth In October 2024, the decrease in Belgium's year-by-year exports to Saudi Arabia was explained primarily by an decrease in product exports in Organic chemicals (€-3.82M or -38.7%), Salt, sulphur, cement, lime, stone, &... (€-937k or -88.6%), and Miscellaneous edible preparations (€-874k or -46.5%). In October 2024, the increase in Belgium's year-by-year imports  from Saudi Arabia was explained primarily by an increase in product imports  in Organic chemicals (€25.7M or 144%), Plastics & articles thereof (€13.9M or 61.7%), and Rubber & articles thereof (€716k or 13.7%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-31.7M(-15%)
IMPORT GROWTH (October 2023 - October 2024)€8.48M(9.94%)

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 Saudi Arabia and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Saudi Arabia and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $2.17B to Saudi Arabia. The main products exported from Belgium to Saudi Arabia were Packaged Medicaments ($259M), Vaccines, blood, antisera, toxins and cultures ($234M), and Refined Petroleum ($192M). During the last 5 years the exports of Belgium to Saudi Arabia have increased at an annualized rate of 12%, from $1.23B in 2018 to $2.17B in 2023.

In 2018, Saudi Arabia exported $1.59B to Belgium. The main products exported from Saudi Arabia to Belgium were Refined Petroleum ($458M), Ethylene Polymers ($210M), and Cyclic Hydrocarbons ($204M). During the last 5 years the exports of Saudi Arabia to Belgium have decreased at an annualized rate of 2.02%, from $1.76B in 2023 to $1.59B in 2018.

Exports from Belgium (Flag) to Saudi Arabia (Flag) (2023)

Exports from Saudi Arabia (Flag) to Belgium (Flag) (2023)

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Saudi Arabia
Top DestinationChina$64.4B

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

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

In 2023, countries that imported more from Saudi Arabia than Belgium included China ($64.4B), India ($34.8B), and Japan ($34.7B).

Difference in imports from Saudi Arabia (Flag) and Belgium (Flag) (2023)

Comparative Advantage Belgium - Saudi Arabia

Flow
Scale

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

During 2023, Belgium had a large net trade with Saudi Arabia in the exports of Chemical Products ($898M), Foodstuffs ($287M), and Machines ($207M).

During 2018, Saudi Arabia had a large net trade with Belgium in the exports of Chemical Products ($508M), Plastics and Rubbers ($466M), and Mineral Products ($459M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Saudi Arabia+$78.8MPackaged Medicaments
Top Product Potential Saudi Arabia Belgium+$226MRefined Petroleum

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

Product Space of Belgium (Flag) and Saudi Arabia (Flag) (2023)

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