Iron & steel in Belgium | The Observatory of Economic Complexity

About

Exports In 2022, Belgium exported $18.2B in Iron & steel, making it the 10th 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: Germany ($4.41B), France ($4.32B), Netherlands ($2.22B), Italy ($970M), and Turkey ($894M).

The fastest growing export markets for Iron & steel of Belgium between 2021 and 2022 were Germany ($682M), France ($429M), and Italy ($209M).

Imports In 2022, Belgium imported $14.9B in Iron & steel, becoming the 12th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 9th most imported product in Belgium. Belgium imports Iron & steel primarily from: Germany ($2.76B), France ($2.27B), Netherlands ($1.92B), Russia ($1.06B), and China ($922M).

The fastest growing import markets in Iron & steel for Belgium between 2021 and 2022 were China ($349M), Brazil ($265M), and South Korea ($178M).

COMPANIES In 2023, leading companies such as FORD MOTOR COMPANY (600), LOREAL USA (252), and SIGMA CORPORATION (52) were at the forefront of shipping Iron & steel from Belgium to the United States.

Latest Trends

December 2023

About

Overview In December 2023 Belgium's Iron & steel exports accounted up to €848M and imports accounted up to €568M, resulting in a positive trade balance of €280M. Between December 2022 and December 2023 the exports of Belgium's Iron & steel have decreased by €-52M (-5.77%) from €900M to €848M, while imports decreased by €-19.9M (-3.39%) from €588M to €568M.

Destinations In December 2023, Iron & steel were exported mostly to France (€221M), Germany (€154M), Netherlands (€103M), Italy (€62.3M), and Turkey (€45.3M), and were imported mostly from Germany (€131M), Netherlands (€121M), France (€115M), Russia (€46.5M), and Brazil (€27.3M).

Growth In December 2023, the decrease in Iron & steel's year-by-year exports was explained primarily by a decrease in exports to Turkey (€-37.2M or -42.2%), France (€-27.7M or -9.01%), and Poland (€-24.3M or -38.6%). In December 2023, the decrease in Iron & steel's year-by-year imports was explained primarily by a decrease in imports from France (€-90.6M or -38.9%), India (€-78.3M or -88.2%), and Russia (€-71.1M or -50.7%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2022 - December 2023)€-52M(-5.77%)

IMPORT GROWTH (December 2022 - December 2023)€-19.9M(-3.39%)

MAIN DESTINATION (December 2023)France€221M

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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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$18.2B

IMPORTS (2022)$14.9B

NET TRADE (2022)$3.31B

In 2022, Belgium exported $18.2B in Iron & steel. The main destinations of Belgium exports on Iron & steel were Germany ($4.41B), France ($4.32B), Netherlands ($2.22B), Italy ($970M), and Turkey ($894M).

In 2022, Belgium imported $14.9B in Iron & steel, mainly from Germany ($2.76B), France ($2.27B), Netherlands ($1.92B), Russia ($1.06B), and China ($922M).

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