Portugal (PRT) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Portugal-Belgium In 2022, Portugal exported $1.93B to Belgium. The main products that Portugal exported to Belgium are Cars ($92.5M), Amino-resins ($90.1M), and Packaged Medicaments ($66.3M). During the last 23 years the exports of Portugal to Belgium have increased at an annualized rate of 1.95%, from $1.24B in 1999 to $1.93B in 2022.

In 2020, Portugal exported services to Belgium worth $764M, with Other business services ($234M), Travel ($230M), and Transportation ($142M) being the largest in terms of value.

Belgium-Portugal In 2022, Belgium exported $3.17B to Portugal. The main products that Belgium exported to Portugal were Cars ($373M), Vaccines, blood, antisera, toxins and cultures ($325M), and Refined Petroleum ($204M). During the last 23 years the exports of Belgium to Portugal have increased at an annualized rate of 3.41%, from $1.47B in 1999 to $3.17B in 2022.

In 2020, Belgium exported services to Portugal worth $556M, with Travel ($188M), Other business services ($122M), and Transportation ($93.7M) being the largest in terms of value.

Comparison In 2022, Portugal ranked 40 in the Economic Complexity Index (ECI 0.58), and 48 in total exports ($81.7B). That same year, Belgium ranked 17 in the Economic Complexity Index (ECI 1.28), and 13 in total exports ($475B).

Latest Trends

January, 2024

About

Overview In January 2024, Portugal exported €196M and imported €267M from Belgium, resulting in a negative trade balance of €70.4M. Between January 2023 and January 2024 the exports of Portugal have increased by €33.8M (20.8%) from €163M to €196M, while imports increased by €10.4M (4.05%) from €256M to €267M.

Trade In January 2024, the top exports of Portugal to Belgium were Electrical machinery and electronics (€21.4M), Plastics & articles thereof (€13.6M), Organic chemicals (€12.2M), Cars, tractors, trucks & parts thereof. (€9.98M), and Iron or steel articles (€9.49M). In January 2024 the top imports of Portugal from Belgium were Cars, tractors, trucks & parts thereof. (€46.3M), Pharmaceutical products (€45.7M), Plastics & articles thereof (€19.8M), Machinery, mechanical appliances, & parts (€18.3M), and Iron & steel (€10.8M).

Growth In January 2024, the increase in Portugal's year-by-year exports to Belgium was explained primarily by an increase in product exports in Electrical machinery and electronics (€7.89M or 58.2%), Wood, wood articles, & charcoal (€5.67M or 285%), and Iron or steel articles (€4.82M or 103%). In January 2024, the increase in Portugal's year-by-year imports from Belgium was explained primarily by an increase in product imports in Cars, tractors, trucks & parts thereof. (€7.11M or 18.2%), Iron & steel (€6.6M or 156%), and Copper articles (€6.24M or 198%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)€33.8M(20.8%)

IMPORT GROWTH (January 2023 - January 2024)€10.4M(4.05%)

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

To check Belgium and Portugal 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, Portugal exported $1.93B to Belgium. The main products exported from Portugal to Belgium were Cars ($92.5M), Amino-resins ($90.1M), and Packaged Medicaments ($66.3M). During the last 23 years the exports of Portugal to Belgium have increased at an annualized rate of 1.95%, from $1.24B in 1999 to $1.93B in 2022.

In 2022, Belgium exported $3.17B to Portugal. The main products exported from Belgium to Portugal were Cars ($373M), Vaccines, blood, antisera, toxins and cultures ($325M), and Refined Petroleum ($204M). During the last 23 years the exports of Belgium to Portugal have increased at an annualized rate of 3.41%, from $1.47B in 1999 to $3.17B in 2022.

Exports from Portugal () to Belgium () (2022)

Exports from Belgium () to Portugal () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Portugal
Top DestinationSpain$20.5B

Belgium
Top DestinationGermany$91.9B

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

In 2021, countries that imported more from Portugal than Belgium were Spain ($20.5B), Angola ($1.59B), and Gibraltar ($561M).

In 2021, countries that imported more from Belgium than Portugal were Germany ($91.9B), Netherlands ($65.7B), and France ($71.1B).

Difference in imports from Belgium () and Portugal () (2022)

Comparative Advantage Portugal - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Portugal had a large net trade with Belgium in the exports of Machines ($319M), Chemical Products ($232M), and Plastics and Rubbers ($232M).

During 2022, Belgium had a large net trade with Portugal in the exports of Chemical Products ($790M), Transportation ($555M), and Machines ($352M).

Service Trade

Bilateral Service Trade

Bel Year

Prt Year

In 2020, Portugal exported services to Belgium worth $764M, with Other business services ($234M), Travel ($230M), and Transportation ($142M) being the largest in terms of value.

In 2020, Belgium exported services to Portugal worth $556M, with Travel ($188M), Other business services ($122M), and Transportation ($93.7M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Portugal has comparative advantage over Belgium. Similarly, the more yellow a dot/product is, the more Belgium has comparative advantage over Portugal.

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from Portugal () to Belgium () (2022)

Exports from Belgium () to Portugal () (2022)

Market Competitiveness

Difference in imports from Belgium () and Portugal () (2022)

Comparative Advantage Portugal - Belgium

Service Trade

Bilateral Service Trade

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

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

Economic Complexity

Competitive Landscape

Product Space of Portugal () and Belgium () (2022)

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