Pharmaceutical products in Belgium | The Observatory of Economic Complexity

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Exports In 2022, Belgium exported $73.5B in Pharmaceutical products, making it the 5th largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 2nd most exported product in Belgium. The main destination of Pharmaceutical products exports from Belgium are: United States ($14.8B), Germany ($10.2B), Japan ($6.65B), Italy ($5.15B), and France ($4.13B).

The fastest growing export markets for Pharmaceutical products of Belgium between 2021 and 2022 were United States ($2.95B), Vietnam ($1.24B), and Japan ($1.18B).

Imports In 2022, Belgium imported $46.9B in Pharmaceutical products, becoming the 4th largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 3rd most imported product in Belgium. Belgium imports Pharmaceutical products primarily from: Ireland ($10.6B), Italy ($10.3B), Germany ($5.71B), France ($5.24B), and United States ($4.2B).

The fastest growing import markets in Pharmaceutical products for Belgium between 2021 and 2022 were Ireland ($3.81B), Italy ($2.87B), and Germany ($824M).

COMPANIES In 2023, leading companies such as THE DOW CHEMICAL COMPANY (26) were at the forefront of shipping Pharmaceutical products from Belgium to the United States.

Latest Trends

December 2023

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Overview In December 2023 Belgium's Pharmaceutical products exports accounted up to €3.96B and imports accounted up to €3.32B, resulting in a positive trade balance of €641M. Between December 2022 and December 2023 the exports of Belgium's Pharmaceutical products have decreased by €-858M (-17.8%) from €4.82B to €3.96B, while imports increased by €519M (18.5%) from €2.8B to €3.32B.

Destinations In December 2023, Pharmaceutical products were exported mostly to United States (€982M), Italy (€405M), Germany (€402M), United Kingdom (€279M), and France (€187M), and were imported mostly from Ireland (€666M), United States (€644M), Switzerland (€502M), Italy (€397M), and Germany (€368M).

Growth In December 2023, the decrease in Pharmaceutical products's year-by-year exports was explained primarily by a decrease in exports to Vietnam (€-198M or -62.3%), Italy (€-168M or -39%), and France (€-119M or -26.1%). In December 2023, the increase in Pharmaceutical products's year-by-year imports was explained primarily by an increase in imports from United States (€1.01B or 442%), Switzerland (€339M or 81%), and Germany (€286M or 166%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2022 - December 2023)€-858M(-17.8%)

IMPORT GROWTH (December 2022 - December 2023)€519M(18.5%)

MAIN DESTINATION (December 2023)United States€982M

This section shows Pharmaceutical products'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 Pharmaceutical products over time.

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