United Kingdom (GBR) and Belgium (BEL) Trade

2022

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Exports $17BRnk 7 / 224

2022

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About

United Kingdom-Belgium Trade: In 2022, United Kingdom exported $17B to Belgium. The main products that United Kingdom exported to Belgium were Petroleum Gas ($6.22B), Packaged Medicaments ($2.63B), and Refined Petroleum ($2.33B). Over the past 5 years the exports of United Kingdom to Belgium have increased at an annualized rate of 3.61%, from $14.2B in 2017 to $17B in 2022.

In 2019, United Kingdom exported services to Belgium worth $4.74B, with Other business services ($2.8B), Travel ($737M), and Financial services ($560M) being the largest in terms of value.

Belgium-United Kingdom Trade: In 2022, Belgium exported $23.8B to United Kingdom. The main products that Belgium exported to United Kingdom were Vaccines, blood, antisera, toxins and cultures ($2.72B), Cars ($1.36B), and Refined Petroleum ($1.1B). Over the past 5 years the exports of Belgium to United Kingdom have increased at an annualized rate of 7.17%, from $16.9B in 2017 to $23.8B in 2022.

In 2020, Belgium exported services to United Kingdom worth $9.4B, with Other business services ($3.38B), Transportation ($2.44B), and Financial services ($1.04B) being the largest in terms of value.

Comparison: In 2022, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Latest Trends

April, 2024

About

Overview In April 2024, United Kingdom exported £1.49B and imported £2.66B from Belgium, resulting in a negative trade balance of £1.17B. Between April 2023 and April 2024 the exports of United Kingdom have increased by £203M (15.8%) from £1.28B to £1.49B, while imports increased by £528M (24.8%) from £2.13B to £2.66B.

Trade In April 2024, the top exports of United Kingdom to Belgium were Packaged Medicaments (£218M), Cars (£136M), Refined Petroleum (£130M), Petroleum Gas (£75.4M), and Precious Metal Scraps (£46.9M). In April 2024 the top imports of United Kingdom from Belgium were Refined Petroleum (£184M), Vaccines, blood, antisera, toxins and cultures (£128M), Cars (£106M), Platinum (£104M), and Packaged Medicaments (£79.4M).

Origins In April 2024 the exports of United Kingdom were mainly from Dover Eurotunnel (£499M), Immingham (£256M), London (£93.3M), Southampton (£88.2M), and London Heathrow Airport (£84.4M), while imports destinations were mainly London (£516M), Immingham (£414M), Dover (£290M), Eurotunnel (£281M), and Avonmouth (£158M).

Growth In April 2024, the increase in United Kingdom's year-by-year exports to Belgium was explained primarily by an increase in product exports in Packaged Medicaments (£117M or 116%), Petroleum Gas (£43.8M or 139%), and Cars (£35.7M or 35.5%). In April 2024, the increase in United Kingdom's year-by-year imports from Belgium was explained primarily by an increase in product imports in Vaccines, blood, antisera, toxins and cultures (£82.8M or 182%), Delivery Trucks (£62.4M or 666%), and Refined Petroleum (£59.2M or 47.4%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (April 2023 - April 2024)£203M(15.8%)

IMPORT GROWTH (April 2023 - April 2024)£528M(24.8%)

MAIN EXPORTER (April 2024)Dover Eurotunnel£499M

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

To check Belgium and United Kingdom 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 2022, United Kingdom exported $17B to Belgium. The main products exported from United Kingdom to Belgium were Petroleum Gas ($6.22B), Packaged Medicaments ($2.63B), and Refined Petroleum ($2.33B). During the last 5 years the exports of United Kingdom to Belgium have increased at an annualized rate of 3.61%, from $14.2B in 2017 to $17B in 2022.

In 2017, Belgium exported $23.8B to United Kingdom. The main products exported from Belgium to United Kingdom were Vaccines, blood, antisera, toxins and cultures ($2.72B), Cars ($1.36B), and Refined Petroleum ($1.1B). During the last 18 years the exports of Belgium to United Kingdom have increased at an annualized rate of 7.17%, from $16.9B in 1999 to $23.8B in 2017.

Exports from United Kingdom () to Belgium () (2022)

Exports from Belgium () to United Kingdom () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$61.8B

Belgium
Top DestinationGermany$91.9B

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

In 2022, countries that imported more from United Kingdom than Belgium included United States ($61.8B), Ireland ($32.6B), and China ($35.4B).

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

Difference in imports from Belgium () and United Kingdom () (2022)

Comparative Advantage United Kingdom - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United Kingdom had a large net trade with Belgium in the exports of Mineral Products ($10.5B), Chemical Products ($4.97B), and Transportation ($2.08B).

During 2017, Belgium had a large net trade with United Kingdom in the exports of Chemical Products ($5.14B), Transportation ($2.78B), and Foodstuffs ($2.17B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Belgium+$424MCars

Top Product Potential Belgium United Kingdom+$601MCars

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

Gbr Year

In 2019, United Kingdom exported services to Belgium worth $4.74B, with Other business services ($2.8B), Travel ($737M), and Financial services ($560M) being the largest in terms of value.

In 2020, Belgium exported services to United Kingdom worth $9.4B, with Other business services ($3.38B), Transportation ($2.44B), and Financial services ($1.04B) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Belgium () (2019)

Services Exports from Belgium () to United Kingdom () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United Kingdom () and Belgium () (2022)

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