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2022
Flag → Flag
Exports $1.93BRnk 8 / 208
2022
Flag → Flag
Top Product $92.5MCars
2022
Flag → Flag
Exports $3.17BRnk 24 / 222
2022
Flag → Flag
Top Product $373MCars
2022
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag  
GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
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GDP GROWTH16.5%CURRENT US$
Rnk 132 / 186
2022
Flag
 GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC $24,275CURRENT US$
Rnk 46 / 186
2012-2022
Flag
GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186
2022
Flag
GDP PC$49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186

About

Portugal-Belgium Trade: In 2022, Portugal exported $1.93B to Belgium. The main products that Portugal exported to Belgium were Cars ($92.5M), Amino-resins ($90.1M), and Packaged Medicaments ($66.3M). Over the past 5 years the exports of Portugal to Belgium have increased at an annualized rate of 6.1%, from $1.43B in 2017 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 Trade: 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). Over the past 5 years the exports of Belgium to Portugal have increased at an annualized rate of 9.72%,  from $1.99B in 2017 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 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Latest Trends

August, 2024

About

Overview In August 2024, Portugal exported €116M and imported €254M from Belgium, resulting in a negative trade balance of €138M. Between August 2023 and August 2024 the exports of Portugal have decreased by €-22M (-16%) from €138M to €116M, while imports increased by €16.3M (6.85%) from €237M to €254M.

Trade In August 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 August 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 August 2024, the decrease in Portugal's year-by-year exports to Belgium was explained primarily by an decrease in product exports in Mineral fuels, mineral oils and products... (€-11.7M or -95.4%), Cars, tractors, trucks & parts thereof. (€-2.99M or -23%), and Pharmaceutical products (€-1.93M or -45.6%). In August 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

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)€-22M(-16%)
IMPORT GROWTH (August 2023 - August 2024)€16.3M(6.85%)

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.

For full datasets download visit Bulk Download page.

Explore Belgium and Portugal Data

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Historical Data

Bilateral Trade by Products

Depth
Value

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 5 years the exports of Portugal to Belgium have increased at an annualized rate of 6.1%, from $1.43B in 2017 to $1.93B in 2022.

In 2017, 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 5 years the exports of Belgium to Portugal have increased at an annualized rate of 9.72%, from $1.99B in 2022 to $3.17B in 2017.

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

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

Market Competitiveness

Color
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 2022, countries that imported more from Portugal than Belgium included Spain ($20.5B), Angola ($1.59B), and Gibraltar ($561M).

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

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

Comparative Advantage Portugal - Belgium

Flow
Scale

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 2017, Belgium had a large net trade with Portugal in the exports of Chemical Products ($790M), Transportation ($555M), and Machines ($352M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Portugal Belgium+$74.7MCars
Top Product Potential Belgium Portugal+$69.6MRefined Petroleum

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

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 (Flag) to Belgium (Flag) (2020)

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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