NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $739MRnk 48 / 220
2023
Flag → Flag
Top Product $89MDiamonds
2023
Flag → Flag
Exports $1.17BRnk 35 / 216
2023
Flag → Flag
Top Product $177MDiamonds
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$515BCURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP GROWTH22.5%CURRENT US$
Rnk 133 / 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$7,182CURRENT US$
Rnk 102 / 196
2013-2023
Flag
GDP PC GROWTH19.3%CURRENT US$
Rnk 103 / 195

About

Belgium-Thailand Trade: In 2023, Belgium exported $739M to Thailand. The main products that Belgium exported to Thailand were Diamonds ($89M), Packaged Medicaments ($63M), and Vaccines, blood, antisera, toxins and cultures ($46.4M). Over the past 5 years the exports of Belgium to Thailand have decreased at an annualized rate of 9.58%, from $1.22B in 2018 to $739M in 2023.

In 2020, Belgium exported services to Thailand worth $66.2M, with Other business services ($40M), Transportation ($13.7M), and Travel ($6.85M) being the largest in terms of value.

Thailand-Belgium Trade: In 2023, Thailand exported $1.17B to Belgium. The main products that Thailand exported to Belgium were Diamonds ($177M), Integrated Circuits ($114M), and Motorcycles and cycles ($99.6M). Over the past 5 years the exports of Thailand to Belgium have decreased at an annualized rate of 1.13%,  from $1.23B in 2018 to $1.17B in 2023.

In 2023, Thailand 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, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €52.6M and imported €64.6M from Thailand, resulting in a negative trade balance of €12M. Between October 2023 and October 2024 the exports of Belgium have decreased by €-10.4M (-16.5%) from €63M to €52.6M, while imports decreased by €-18.3M (-22.1%) from €82.9M to €64.6M.

Trade In October 2024, the top exports of Belgium to Thailand were Pharmaceutical products (€13.4M), Plastics & articles thereof (€5.54M), Electrical machinery and electronics (€3.69M), Precious stones, metals, & pearls (€3.56M), and Machinery, mechanical appliances, & parts (€3.27M). In October 2024 the top imports of Belgium from Thailand were Electrical machinery and electronics (€27.9M), Machinery, mechanical appliances, & parts (€14.7M), Cars, tractors, trucks & parts thereof. (€13M), Rubber & articles thereof (€8.38M), and Precious stones, metals, & pearls (€7.75M).

Growth In October 2024, the decrease in Belgium's year-by-year exports to Thailand was explained primarily by an decrease in product exports in Electrical machinery and electronics (€-6.85M or -65%), Machinery, mechanical appliances, & parts (€-3.15M or -49.1%), and Edible products of animal origin, n.e.s. (€-2.38M or -73.6%). In October 2024, the decrease in Belgium's year-by-year imports  from Thailand was explained primarily by an decrease in product imports  in Organic chemicals (€-8.1M or -84.1%), Cereals (€-1.55M or -58.3%), and Rubber & articles thereof (€-1.26M or -13.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-10.4M(-16.5%)
IMPORT GROWTH (October 2023 - October 2024)€-18.3M(-22.1%)

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 Thailand and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Thailand and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $739M to Thailand. The main products exported from Belgium to Thailand were Diamonds ($89M), Packaged Medicaments ($63M), and Vaccines, blood, antisera, toxins and cultures ($46.4M). During the last 5 years the exports of Belgium to Thailand have decreased at an annualized rate of 9.58%, from $1.22B in 2018 to $739M in 2023.

In 2018, Thailand exported $1.17B to Belgium. The main products exported from Thailand to Belgium were Diamonds ($177M), Integrated Circuits ($114M), and Motorcycles and cycles ($99.6M). During the last 5 years the exports of Thailand to Belgium have decreased at an annualized rate of 1.13%, from $1.23B in 2023 to $1.17B in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Thailand
Top DestinationUnited States$58.5B

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

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

In 2023, countries that imported more from Thailand than Belgium included China ($44.1B), United States ($58.5B), and Japan ($24.9B).

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

Comparative Advantage Belgium - Thailand

Flow
Scale

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

During 2023, Belgium had a large net trade with Thailand in the exports of Chemical Products ($232M), Machines ($111M), and Precious Metals ($103M).

During 2018, Thailand had a large net trade with Belgium in the exports of Machines ($408M), Precious Metals ($200M), and Transportation ($167M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Thailand+$45.4MVaccines, blood, antisera, toxins and cultures
Top Product Potential Thailand Belgium+$52.2MIntegrated Circuits

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

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

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms