Iron & steel in Belgium 2020 Exports | Imports : $11.4B | $8.29B, World Rnk 7 / 221 Rnk 8 / 96 | World Rnk 12 / 225 Rnk 10 / 96
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $40.3M | $71.8M, Turkey | Turkey
2020 ECONOMIC COMPLEXITY of Belgium: 1.33, Rnk 17 / 127
2020 PRODUCT COMPLEXITY IN Iron & steel: 1.68, Rnk 28 / 1029
Exports In 2020, Belgium exported $11.4B in Iron & steel, making it the 7th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 8th most exported product in Belgium. The main destination of Iron & steel exports from Belgium are: France ($2.71B), Germany ($2.51B), Netherlands ($1.39B), Turkey ($643M), and Italy ($603M).
The fastest growing export markets for Iron & steel of Belgium between 2019 and 2020 were Turkey ($40.3M), Luxembourg ($24.6M), and Greece ($7.43M).
Imports In 2020, Belgium imported $8.29B in Iron & steel, becoming the 12th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 10th most imported product in Belgium. Belgium imports Iron & steel primarily from: Germany ($1.78B), France ($1.48B), Netherlands ($1.26B), Russia ($699M), and India ($311M).
The fastest growing import markets in Iron & steel for Belgium between 2019 and 2020 were Turkey ($71.8M), Guatemala ($5.56M), and Romania ($5.07M).
Tariffs In 2017, the average tariff for Belgium in Iron & steel was 0.15%. The countries with the highest import tariffs for Iron & steel were Ukraine (European Union Generalized System of Preference, 3.11%), Republic of the Congo (European Union Generalized System of Preference, 1.35%), Nigeria (European Union Generalized System of Preference, 1.35%), Indonesia (European Union Generalized System of Preference, 1.35%), and India (European Union Generalized System of Preference, 1.35%).
Overview In October 2022 Belgium's Iron & steel exports accounted up to €1.15B and imports accounted up to €764M, resulting in a positive trade balance of €385M. Between October 2021 and October 2022 the exports of Belgium's Iron & steel have decreased by €-172M (-13%) from €1.32B to €1.15B, while imports decreased by €-354M (-31.7%) from €1.12B to €764M.
Destinations In October 2022, Iron & steel were exported mostly to Germany (€291M), France (€214M), Netherlands (€167M), Turkey (€50.9M), and Italy (€45M), and were imported mostly from Netherlands (€162M), France (€122M), Germany (€110M), China (€47.9M), and South Africa (€42.7M).
Growth In October 2022, the decrease in Iron & steel's year-by-year exports was explained primarily by a decrease in exports to Germany (€-49.7M or -18.9%), Luxembourg (€-7.19M or -23.1%), and Poland (€-5.81M or -16.9%). In October 2022, the decrease in Iron & steel's year-by-year imports was explained primarily by a decrease in imports from United Kingdom (€-11.8M or -74.5%), South Africa (€-6.99M or -77.7%), and Russia (€-6.32M or -7.53%).
EXPORT GROWTH (October 2021 - October 2022): €-172M, (-13%)
IMPORT GROWTH (October 2021 - October 2022): €-354M, (-31.7%)
MAIN DESTINATION (October 2022): Germany, €291M
This section shows Iron & steel'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 Iron & steel over time.
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EXPORTS (2020): $11.4B
IMPORTS (2020): $8.29B
NET TRADE (2020): $3.1B
In 2020, Belgium exported $11.4B in Iron & steel. The main destinations of Belgium exports on Iron & steel were France ($2.71B), Germany ($2.51B), Netherlands ($1.39B), Turkey ($643M), and Italy ($603M).
In 2020, Belgium imported $8.29B in Iron & steel, mainly from Germany ($1.78B), France ($1.48B), Netherlands ($1.26B), Russia ($699M), and India ($311M).
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Belgium WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Belgium WERE (2019 - 2020):
In 2020, Belgium's main exporting competitors in Iron & steel were:
In 2020, Belgium's main importing competitors in Iron & steel were:
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