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2022
Flag → Flag
Exports $2.13BRnk 33 / 222
2022
Flag → Flag
Top Product $1.44BPackaged Medicaments
2022
Flag → Flag
Exports $3.19BRnk 25 / 152
2022
Flag → Flag
Top Product $637MTextile Footwear
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
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Economic Complexity (ECI) ECI 0.2Rnk 55 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$409BCURRENT US$
Rnk 35 / 186
2012-2022
Flag
GDP GROWTH109%CURRENT US$
Rnk 12 / 186
2022
Flag
GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
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GDP PC$4,164CURRENT US$
Rnk 120 / 186
2012-2022
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GDP PC GROWTH90.1%CURRENT US$
Rnk 11 / 186

About

Belgium-Vietnam Trade: In 2022, Belgium exported $2.13B to Vietnam. The main products that Belgium exported to Vietnam were Packaged Medicaments ($1.44B), Vaccines, blood, antisera, toxins and cultures ($217M), and Diamonds ($112M). Over the past 5 years the exports of Belgium to Vietnam have increased at an annualized rate of 32.4%, from $524M in 2017 to $2.13B in 2022.

In 2022, Belgium did not export any services to Vietnam.

Vietnam-Belgium Trade: In 2022, Vietnam exported $3.19B to Belgium. The main products that Vietnam exported to Belgium were Textile Footwear ($637M), Leather Footwear ($383M), and Coffee ($257M). Over the past 5 years the exports of Vietnam to Belgium have increased at an annualized rate of 11.7%,  from $1.83B in 2017 to $3.19B in 2022.

In 2022, Vietnam did not export any services to Belgium.

Comparison: In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Vietnam ranked 55 in the Economic Complexity Index (ECI 0.2), and 19 in total exports ($399B).

Latest Trends

July, 2024

About

Overview In July 2024, Belgium exported €62.4M and imported €105M from Vietnam, resulting in a negative trade balance of €42.9M. Between July 2023 and July 2024 the exports of Belgium have increased by €17.6M (39.3%) from €44.8M to €62.4M, while imports increased by €35.4M (50.6%) from €69.9M to €105M.

Trade In July 2024, the top exports of Belgium to Vietnam were Pharmaceutical products (€120M), Precious stones, metals, & pearls (€11.9M), Machinery, mechanical appliances, & parts (€3.16M), Fertilizers (€2.24M), and Plastics & articles thereof (€2.24M). In July 2024 the top imports of Belgium from Vietnam were Optical, photo, & film equipment; medical... (€11.3M), Iron & steel (€8.31M), Coffee, tea, mate & spices (€6.63M), Fish, crustaceans, & molluscs (€4.44M), and Electrical machinery and electronics (€4.15M).

Growth In July 2024, the increase in Belgium's year-by-year exports to Vietnam was explained primarily by an increase in product exports in Fertilizers (€1.09M or 94.6%), Leather articles (€976k or 1.39k%), and Plastics & articles thereof (€763k or 51.7%). In July 2024, the increase in Belgium's year-by-year imports  from Vietnam was explained primarily by an increase in product imports  in Optical, photo, & film equipment; medical... (€7.94M or 236%), Plastics & articles thereof (€2.17M or 141%), and Electrical machinery and electronics (€2.01M or 94.4%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)€17.6M(39.3%)
IMPORT GROWTH (July 2023 - July 2024)€35.4M(50.6%)

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 Vietnam and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Vietnam and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $2.13B to Vietnam. The main products exported from Belgium to Vietnam were Packaged Medicaments ($1.44B), Vaccines, blood, antisera, toxins and cultures ($217M), and Diamonds ($112M). During the last 5 years the exports of Belgium to Vietnam have increased at an annualized rate of 32.4%, from $524M in 2017 to $2.13B in 2022.

In 2017, Vietnam exported $3.19B to Belgium. The main products exported from Vietnam to Belgium were Textile Footwear ($637M), Leather Footwear ($383M), and Coffee ($257M). During the last 5 years the exports of Vietnam to Belgium have increased at an annualized rate of 11.7%, from $1.83B in 2022 to $3.19B in 2017.

Exports from Belgium (Flag) to Vietnam (Flag) (2022)

Exports from Vietnam (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Vietnam
Top DestinationUnited States$117B

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

In 2022, countries that imported more from Belgium than Vietnam included Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

In 2022, countries that imported more from Vietnam than Belgium included United States ($117B), China ($58.7B), and South Korea ($25.2B).

Difference in imports from Vietnam (Flag) and Belgium (Flag) (2022)

Comparative Advantage Belgium - Vietnam

Flow
Scale

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

During 2022, Belgium had a large net trade with Vietnam in the exports of Chemical Products ($1.71B), Precious Metals ($112M), and Machines ($59.1M).

During 2017, Vietnam had a large net trade with Belgium in the exports of Footwear and Headwear ($1.23B), Textiles ($479M), and Metals ($363M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Vietnam+$46MVaccines, blood, antisera, toxins and cultures
Top Product Potential Vietnam Belgium+$32.8MOther Furniture

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

Product Space of Belgium (Flag) and Vietnam (Flag) (2022)

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