Belgium (BEL) and British Virgin Islands (VGB) Trade | The Observatory of Economic Complexity

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Belgium-British Virgin Islands Trade: In 2023, Belgium exported $203k to British Virgin Islands. The main products that Belgium exported to British Virgin Islands were Paintings ($75.3k), Other Frozen Vegetables ($32.2k), and Electrical Transformers ($20.6k). Over the past 5 years the exports of Belgium to British Virgin Islands have increased at an annualized rate of 5.17%, from $158k in 2018 to $203k in 2023.

In 2023, Belgium did not export any services to British Virgin Islands.

British Virgin Islands-Belgium Trade: In 2023, British Virgin Islands exported $157k to Belgium. The main products that British Virgin Islands exported to Belgium were Other Heating Machinery ($83.6k), Machinery Having Individual Functions ($64.8k), and Plastic Lids ($8.01k). Over the past 5 years the exports of British Virgin Islands to Belgium have decreased at an annualized rate of 23.1%, from $585k in 2018 to $157k in 2023.

In 2023, British Virgin Islands 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, British Virgin Islands ranked 178 in total exports ($281M), and does not have data regarding Economic Complexity Index.

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €195k and imported €10.5k from British Virgin Islands, resulting in a positive trade balance of €184k. Between October 2023 and October 2024 the exports of Belgium have increased by €187k (2.41k%) from €7.77k to €195k, while imports decreased by €-19.2k (-64.5%) from €29.7k to €10.5k.

Trade In October 2024, the top exports of Belgium to British Virgin Islands were Machinery, mechanical appliances, & parts (€8.09k) and Rubber & articles thereof (€178). In October 2024 the top imports of Belgium from British Virgin Islands were .

Growth In October 2024, the increase in Belgium's year-by-year exports to British Virgin Islands was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts (€970 or 13.6%) and Rubber & articles thereof (€32 or 21.9%). In October 2024, the decrease in Belgium's year-by-year imports from British Virgin Islands was explained primarily by an decrease in product imports in .

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Belgium exported $203k to British Virgin Islands. The main products exported from Belgium to British Virgin Islands were Paintings ($75.3k), Other Frozen Vegetables ($32.2k), and Electrical Transformers ($20.6k). During the last 5 years the exports of Belgium to British Virgin Islands have increased at an annualized rate of 5.17%, from $158k in 2018 to $203k in 2023.

In 2018, British Virgin Islands exported $157k to Belgium. The main products exported from British Virgin Islands to Belgium were Other Heating Machinery ($83.6k), Machinery Having Individual Functions ($64.8k), and Plastic Lids ($8.01k). During the last 5 years the exports of British Virgin Islands to Belgium have decreased at an annualized rate of 23.1%, from $585k in 2023 to $157k in 2018.

Exports from Belgium () to British Virgin Islands () (2023)

Exports from British Virgin Islands () to Belgium () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Belgium
Top DestinationFrance$85.6B

British Virgin Islands
Top DestinationMalta$93.7M

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

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

In 2023, countries that imported more from British Virgin Islands than Belgium included Guyana ($61.6M).

Difference in imports from British Virgin Islands () and Belgium () (2023)

Comparative Advantage Belgium - British Virgin Islands

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Belgium and British Virgin Islands by product, considering products traded by both, Belgium and British Virgin Islands.

During 2023, Belgium had a large net trade with British Virgin Islands in the exports of Arts and Antiques ($75.3k), Foodstuffs ($62.6k), and Machines ($50.3k).

During 2018, British Virgin Islands had a large net trade with Belgium in the exports of Machines ($148k), Plastics and Rubbers ($8.01k), and Animal Hides ($355).

Economic Complexity

Competitive Landscape

Year

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

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from Belgium () to British Virgin Islands () (2023)

Exports from British Virgin Islands () to Belgium () (2023)

Market Competitiveness

Difference in imports from British Virgin Islands () and Belgium () (2023)

Comparative Advantage Belgium - British Virgin Islands

Economic Complexity

Competitive Landscape

Product Space of Belgium () and British Virgin Islands () (2023)

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from Belgium () to British Virgin Islands () (2023)

Exports from British Virgin Islands () to Belgium () (2023)

Market Competitiveness

Difference in imports from British Virgin Islands () and Belgium () (2023)

Comparative Advantage Belgium - British Virgin Islands

Economic Complexity

Competitive Landscape

Product Space of Belgium () and British Virgin Islands () (2023)

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