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2022
Exports $78.8MWorld Rnk 77 / 149
Flag Rnk 480 / 1213
2022
Destination $30.2M Netherlands
2021 - 2022
FASTEST GROWING MARKET $30.2MNetherlands
2022
PRODUCT COMPLEXITY IN Crude Petroleum-2.25Rnk 1011 / 1025
2022
Imports $15.1BWorld Rnk 18 / 158
Flag Rnk 6 / 1214
2022
Origin $7.77B Netherlands
2021 - 2022
FASTEST GROWING ORIGIN $7.77BNetherlands
2022
ECONOMIC COMPLEXITY of Belgium1.25Rnk 19 / 133

About

Exports In 2022, Belgium exported $78.8M in Crude Petroleum, making it the 77th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 480th most exported product in Belgium. The main destination of Crude Petroleum exports from Belgium are: Netherlands ($60.7M), Spain ($14.2M), Gibraltar ($3.51M), France ($431k), and Denmark ($11.1k).

The fastest growing export markets for Crude Petroleum of Belgium between 2021 and 2022 were Netherlands ($30.2M), Gibraltar ($3.51M), and Moldova ($2.74k).

Imports In 2022, Belgium imported $15.1B in Crude Petroleum, becoming the 18th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 6th most imported product in Belgium. Belgium imports Crude Petroleum primarily from: Netherlands ($14.5B), United Kingdom ($174M), Nigeria ($148M), United States ($66.9M), and Algeria ($56.7M).

The fastest growing import markets in Crude Petroleum for Belgium between 2021 and 2022 were Netherlands ($7.77B), Nigeria ($90M), and Algeria ($34M).

Latest Trends

August 2024

About

Overview In August 2024 Belgium's Crude Petroleum exports accounted up to €4.05M and imports accounted up to €1.87B, resulting in a negative trade balance of €1.86B. Between August 2023 and August 2024 the exports of Belgium's   Crude Petroleum have increased by €229k (5.98%) from €3.82M to €4.05M, while imports decreased by €-36.8M (-1.93%) from €1.9B to €1.87B.

Destinations In August 2024, Crude Petroleum were exported mostly to Netherlands (€4.05M), Switzerland (€707), France (€104), South Korea (€12), and United Kingdom (€4), and were imported mostly from Netherlands (€1.83B), Nigeria (€17.9M), United States (€8.36M), United Kingdom (€7.78M), and Algeria (€3.25M).

Growth In August 2024, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to France (€34 or 309%) and United Kingdom (€3 or 60%). In August 2024, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from United Kingdom (€-2.91M or -87%) and United States (€-1.81M or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)€229k(5.98%)
IMPORT GROWTH (August 2023 - August 2024)€-36.8M(-1.93%)
MAIN DESTINATION (August 2024)Netherlands€4.05M

This section shows Crude Petroleum's exports and imports data at subnational level for Belgium. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Crude Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$78.8M
IMPORTS (2022)$15.1B
NET TRADE (2022)-$15B

In 2022, Belgium exported $78.8M in Crude Petroleum. The main destinations of Belgium exports on Crude Petroleum were Netherlands ($60.7M), Spain ($14.2M), Gibraltar ($3.51M), France ($431k), and Denmark ($11.1k).

In 2022, Belgium imported $15.1B in Crude Petroleum, mainly from Netherlands ($14.5B), United Kingdom ($174M), Nigeria ($148M), United States ($66.9M), and Algeria ($56.7M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Belgium WERE (2021 - 2022):
Netherlands$30.2M (99.2%)
Gibraltar$3.51M (1%)
Moldova$2.74k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Belgium WERE (2021 - 2022):
Spain-$19.1M (-57.3%)
United States-$7.77M (-100%)
Germany-$1.36M (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Belgium's main exporting competitors in Crude Petroleum were:
Saudi Arabia $236B
Russia $133B
Canada $123B
In 2022, Belgium's main importing competitors in Crude Petroleum were:
China $287B
United States $199B
India $170B

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $181M
TOP IMPORT POTENTIALNigeria+ $279M

Crude Petroleum’s highest export potential is Netherlands. With an export gap of $181M.   Crude Petroleum’s highest import potential is Nigeria with an import gap of $279M.

See methodology.

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