2022
Exports
$24.8BWorld Rnk 7 / 217
Flag Rnk 4 / 1213
2022
PRODUCT COMPLEXITY IN Packaged Medicaments
0.67Rnk 291 / 1025
2022
Imports
$24.3BWorld Rnk 4 / 224
Flag Rnk 4 / 1214
2022
ECONOMIC COMPLEXITY of Belgium
1.25Rnk 19 / 133

About

Exports In 2022, Belgium exported $24.8B in Packaged Medicaments, making it the 7th largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 4th most exported product in Belgium. The main destination of Packaged Medicaments exports from Belgium are: United States ($5.23B), Italy ($2.9B), Germany ($2.09B), Netherlands ($2.08B), and France ($1.44B).

The fastest growing export markets for Packaged Medicaments of Belgium between 2021 and 2022 were Vietnam ($1.3B), Germany ($869M), and United States ($661M).

Imports In 2022, Belgium imported $24.3B in Packaged Medicaments, becoming the 4th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 4th most imported product in Belgium. Belgium imports Packaged Medicaments primarily from: Italy ($8.88B), Germany ($4.2B), United Kingdom ($2.63B), France ($2.46B), and United States ($2B).

The fastest growing import markets in Packaged Medicaments for Belgium between 2021 and 2022 were Italy ($2.81B), Germany ($1.09B), and United Kingdom ($377M).

COMPANIES In 2023, leading companies such as Baxter Healthcare (28) and L'Oreal (19) were at the forefront of shipping Packaged Medicaments from Belgium to the United States.

Latest Trends

May 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (May 2023 - May 2024)€-1.81B(-86%)
IMPORT GROWTH (May 2023 - May 2024)€-1.37B(-91.3%)
MAIN DESTINATION (May 2024)China€102M

This section shows Packaged Medicaments'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 Packaged Medicaments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$24.8B
IMPORTS (2022)$24.3B
NET TRADE (2022)$518M

In 2022, Belgium exported $24.8B in Packaged Medicaments. The main destinations of Belgium exports on Packaged Medicaments were United States ($5.23B), Italy ($2.9B), Germany ($2.09B), Netherlands ($2.08B), and France ($1.44B).

In 2022, Belgium imported $24.3B in Packaged Medicaments, mainly from Italy ($8.88B), Germany ($4.2B), United Kingdom ($2.63B), France ($2.46B), and United States ($2B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR Belgium WERE (2021 - 2022):
Vietnam$1.3B (956%)
Germany$869M (71%)
United States$661M (14.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY Belgium WERE (2021 - 2022):
United Kingdom-$595M (-52%)
Japan-$158M (-20.5%)
Luxembourg-$131M (-28.2%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Belgium's main exporting competitors in Packaged Medicaments were:
In 2022, Belgium's main importing competitors in Packaged Medicaments were:

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Trade Value of Packaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $1.41B
TOP IMPORT POTENTIALGermany+ $1.8B

Packaged Medicaments’s highest export potential is Germany. With an export gap of $1.41B.   Packaged Medicaments’s highest import potential is Germany with an import gap of $1.8B.

See methodology.

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