Canada (CAN) and Belgium (BEL) Trade

2023

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Exports $3.49BRnk 14 / 215

2023

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About

Canada-Belgium Trade: In 2023, Canada exported $3.49B to Belgium. The main products that Canada exported to Belgium were Diamonds ($1.66B), Iron Ore ($370M), and Packaged Medicaments ($314M). Over the past 5 years the exports of Canada to Belgium have increased at an annualized rate of 2.82%, from $3.04B in 2018 to $3.49B in 2023.

In 2020, Canada exported services to Belgium worth $336M, with Financial services ($157M), Transportation ($49.2M), and Royalties and license fees ($46.2M) being the largest in terms of value.

Belgium-Canada Trade: In 2023, Belgium exported $3.58B to Canada. The main products that Belgium exported to Canada were Vaccines, blood, antisera, toxins and cultures ($693M), Refined Petroleum ($437M), and Hormones ($345M). Over the past 5 years the exports of Belgium to Canada have increased at an annualized rate of 0.93%, from $3.39B in 2018 to $3.58B in 2023.

In 2020, Belgium exported services to Canada worth $344M, with Other business services ($175M), Transportation ($99.4M), and Computer and information services ($34.3M) being the largest in terms of value.

Comparison: In 2023, Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B). That same year, Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B).

Latest Trends

November, 2024

About

Overview In November 2024, Canada exported C$215M and imported C$312M from Belgium, resulting in a negative trade balance of C$97M. Between November 2023 and November 2024 the exports of Canada have increased by C$15.3M (7.63%) from C$200M to C$215M, while imports decreased by C$-100M (-24.3%) from C$413M to C$312M.

Trade In November 2024, the top exports of Canada to Belgium were Diamonds (C$182M), Potassic Fertilizers (C$75.2M), Iron Ore (C$34.7M), Raw Nickel (C$19.9M), and Non-Iron and Steel Slag, Ash and... (C$13.2M). In November 2024 the top imports of Canada from Belgium were Hormones (C$160M), Vaccines, blood, antisera, toxins and cultures (C$67.8M), Harvesting Machinery (C$38.4M), Packaged Medicaments (C$33.1M), and Refined Petroleum (C$29.7M).

Origins In November 2024 the exports of Canada were mainly from Quebec (C$88.4M), Saskatchewan (C$43.8M), Ontario (C$38.5M), Newfoundland Labrador (C$24.1M), and Alberta (C$6.57M), while imports destinations were mainly Quebec (C$98.2M), Ontario (C$92M), Nova Scotia (C$37M), Newfoundland Labrador (C$36M), and Alberta (C$26M).

Growth In November 2024, the increase in Canada's year-by-year exports to Belgium was explained primarily by an increase in product exports in Potassic Fertilizers (C$48.8M or 185%), Non-Iron and Steel Slag, Ash and... (C$7.21M or 121%), and Raw Nickel (C$6.06M or 43.7%). In November 2024, the decrease in Canada's year-by-year imports from Belgium was explained primarily by an decrease in product imports in Vaccines, blood, antisera, toxins and cultures (C$-187M or -73.4%), Refined Petroleum (C$-34.8M or -54%), and Platinum (C$-25.1M or -58.7%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)C$15.3M(7.63%)

IMPORT GROWTH (November 2023 - November 2024)C$-100M(-24.3%)

MAIN EXPORTER (November 2024)QuebecC$88.4M

This section shows exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Canada over time.

To check Belgium and Canada trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Canada exported $3.49B to Belgium. The main products exported from Canada to Belgium were Diamonds ($1.66B), Iron Ore ($370M), and Packaged Medicaments ($314M). During the last 5 years the exports of Canada to Belgium have increased at an annualized rate of 2.82%, from $3.04B in 2018 to $3.49B in 2023.

In 2018, Belgium exported $3.58B to Canada. The main products exported from Belgium to Canada were Vaccines, blood, antisera, toxins and cultures ($693M), Refined Petroleum ($437M), and Hormones ($345M). During the last 5 years the exports of Belgium to Canada have increased at an annualized rate of 0.93%, from $3.39B in 2023 to $3.58B in 2018.

Exports from Canada () to Belgium () (2023)

Exports from Belgium () to Canada () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Canada
Top DestinationUnited States$410B

Belgium
Top DestinationFrance$85.6B

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

In 2023, countries that imported more from Canada than Belgium included United States ($410B), China ($31.1B), and Japan ($13.4B).

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

Difference in imports from Belgium () and Canada () (2023)

Comparative Advantage Canada - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Canada had a large net trade with Belgium in the exports of Precious Metals ($1.67B), Chemical Products ($699M), and Mineral Products ($461M).

During 2018, Belgium had a large net trade with Canada in the exports of Chemical Products ($1.52B), Mineral Products ($659M), and Transportation ($370M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Canada Belgium+$107MPackaged Medicaments

Top Product Potential Belgium Canada+$199MCars

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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Bilateral Service Trade

Bel Year

Can Year

In 2020, Canada exported services to Belgium worth $336M, with Financial services ($157M), Transportation ($49.2M), and Royalties and license fees ($46.2M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Canada () to Belgium () (2020)

Services Exports from Belgium () to Canada () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of Canada () and Belgium () (2023)

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