Bosnia and Herzegovina (BIH) and Belgium (BEL) Trade | The Observatory of Economic Complexity

About

Bosnia and Herzegovina-Belgium Trade: In 2023, Bosnia and Herzegovina exported $44.2M to Belgium. The main products that Bosnia and Herzegovina exported to Belgium were Plastic Building Materials ($4.18M), Sawn Wood ($3.16M), and Aluminium Structures ($2.9M). Over the past 5 years the exports of Bosnia and Herzegovina to Belgium have increased at an annualized rate of 2.72%, from $38.6M in 2018 to $44.2M in 2023.

In 2019, Bosnia and Herzegovina exported services to Belgium worth $12.5M, with Travel ($7.39M), Transportation ($4.25M), and Communications services ($896k) being the largest in terms of value.

Belgium-Bosnia and Herzegovina Trade: In 2023, Belgium exported $130M to Bosnia and Herzegovina. The main products that Belgium exported to Bosnia and Herzegovina were Raw Zinc ($14.4M), Tractors ($12.1M), and Bovine Meat ($7.61M). Over the past 5 years the exports of Belgium to Bosnia and Herzegovina have increased at an annualized rate of 6.12%, from $96.9M in 2018 to $130M in 2023.

In 2023, Belgium did not export any services to Bosnia and Herzegovina.

Comparison: In 2023, Bosnia and Herzegovina ranked 37 in the Economic Complexity Index (ECI 0.7), and 105 in total exports ($9.67B). That same year, Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Bosnia and Herzegovina exported $44.2M to Belgium. The main products exported from Bosnia and Herzegovina to Belgium were Plastic Building Materials ($4.18M), Sawn Wood ($3.16M), and Aluminium Structures ($2.9M). During the last 5 years the exports of Bosnia and Herzegovina to Belgium have increased at an annualized rate of 2.72%, from $38.6M in 2018 to $44.2M in 2023.

In 2018, Belgium exported $130M to Bosnia and Herzegovina. The main products exported from Belgium to Bosnia and Herzegovina were Raw Zinc ($14.4M), Tractors ($12.1M), and Bovine Meat ($7.61M). During the last 5 years the exports of Belgium to Bosnia and Herzegovina have increased at an annualized rate of 6.12%, from $96.9M in 2023 to $130M in 2018.

Exports from Bosnia and Herzegovina () to Belgium () (2023)

Exports from Belgium () to Bosnia and Herzegovina () (2023)

Latest Data

Trade between Bosnia and Herzegovina () and Belgium ()

Bosnia and Herzegovina Exports

Date

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bosnia and Herzegovina
Top DestinationGermany$1.48B

Belgium
Top DestinationFrance$85.6B

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

In 2023, countries that imported more from Bosnia and Herzegovina than Belgium included Croatia ($1.39B), Serbia ($1.18B), and Montenegro ($283M).

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

Difference in imports from Belgium () and Bosnia and Herzegovina () (2023)

Comparative Advantage Bosnia and Herzegovina - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Bosnia and Herzegovina had a large net trade with Belgium in the exports of Metals ($9.96M), Wood Products ($7.26M), and Plastics and Rubbers ($6.2M).

During 2018, Belgium had a large net trade with Bosnia and Herzegovina in the exports of Metals ($20M), Plastics and Rubbers ($19.8M), and Chemical Products ($19.2M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Bosnia and Herzegovina Belgium+$3.75MRaw Aluminium

Top Product Potential Belgium Bosnia and Herzegovina+$7.84MVaccines, blood, antisera, toxins and cultures

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Bosnia and Herzegovina () to Belgium () (2023)

Exports from Belgium () to Bosnia and Herzegovina () (2023)

Latest Data

Trade between Bosnia and Herzegovina () and Belgium ()

Bosnia and Herzegovina Exports

Belgium Exports

Market Competitiveness

Difference in imports from Belgium () and Bosnia and Herzegovina () (2023)

Comparative Advantage Bosnia and Herzegovina - Belgium

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

Product Space of Bosnia and Herzegovina () and Belgium () (2023)

Keep Exploring