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2023
Exports $37.1BWorld Rnk 11 / 214
Flag Rnk 1 / 1216
2023
Destination $812M Netherlands
2022 - 2023
FASTEST GROWING MARKET $812MFrance
2023
PRODUCT COMPLEXITY IN Refined Petroleum-0.94Rnk 813 / 1025
2023
Imports $17.9BWorld Rnk 15 / 226
Flag Rnk 6 / 1213
2023
Origin $1.15B Netherlands
2022 - 2023
FASTEST GROWING ORIGIN $1.15BUnited Kingdom
2023
ECONOMIC COMPLEXITY of Belgium1.23Rnk 20 / 132

About

Exports In 2023, Belgium exported $37.1B in Refined Petroleum, making it the 11th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most exported product in Belgium. The main destination of Refined Petroleum exports from Belgium are: Netherlands ($7.85B), Germany ($5.5B), Nigeria ($4.97B), France ($4.61B), and United Kingdom ($1.96B).

The fastest growing export markets for Refined Petroleum of Belgium between 2022 and 2023 were France ($812M), Germany ($606M), and Poland ($405M).

Imports In 2023, Belgium imported $17.9B in Refined Petroleum, becoming the 15th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 6th most imported product in Belgium. Belgium imports Refined Petroleum primarily from: Netherlands ($7.09B), United Kingdom ($2.74B), France ($1.34B), United States ($982M), and Germany ($541M).

The fastest growing import markets in Refined Petroleum for Belgium between 2022 and 2023 were United Kingdom ($1.15B), China ($290M), and Algeria ($204M).

COMPANIES In 2023, leading companies such as Toyota (36), Chevron (4), and Givaudan Fragrances (2) were at the forefront of shipping Refined Petroleum from Belgium to the United States.

Latest Trends

October 2024

About

Overview In October 2024 Belgium's Refined Petroleum exports accounted up to €1.96B and imports accounted up to €1.01B, resulting in a positive trade balance of €950M. Between October 2023 and October 2024 the exports of Belgium's   Refined Petroleum have decreased by €-720M (-26.9%) from €2.68B to €1.96B, while imports decreased by €-739M (-42.3%) from €1.75B to €1.01B.

Destinations In October 2024, Refined Petroleum were exported mostly to Netherlands (€411M), Germany (€333M), Nigeria (€228M), France (€174M), and Areas (€160M), and were imported mostly from Netherlands (€408M), United States (€115M), France (€105M), United Kingdom (€61.5M), and United Arab Emirates (€50.9M).

Growth In October 2024, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Senegal (€-159M or -95%), Angola (€-61.8M or -99.7%), and Libya (€-50.4M or -36.7%). In October 2024, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from United Kingdom (€-70M or -43.8%), Algeria (€-21.9M or -100%), and Italy (€-11M or -97%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)€-720M(-26.9%)
IMPORT GROWTH (October 2023 - October 2024)€-739M(-42.3%)
MAIN DESTINATION (October 2024)Netherlands€411M

This section shows Refined 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 Refined Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$37.1B
IMPORTS (2023)$17.9B
NET TRADE (2023)$19.2B

In 2023, Belgium exported $37.1B in Refined Petroleum. The main destinations of Belgium exports on Refined Petroleum were Netherlands ($7.85B), Germany ($5.5B), Nigeria ($4.97B), France ($4.61B), and United Kingdom ($1.96B).

In 2023, Belgium imported $17.9B in Refined Petroleum, mainly from Netherlands ($7.09B), United Kingdom ($2.74B), France ($1.34B), United States ($982M), and Germany ($541M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Belgium WERE (2022 - 2023):
France$812M (21.4%)
Germany$606M (12.4%)
Poland$405M (285%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Belgium WERE (2022 - 2023):
Nigeria-$1.43B (-22.3%)
United Kingdom-$907M (-31.7%)
Libya-$864M (-77.6%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Belgium's main exporting competitors in Refined Petroleum were:
United States $107B
Singapore $55.9B
India $55.8B
In 2023, Belgium's main importing competitors in Refined Petroleum were:
United States $68.8B
Singapore $55.7B
Australia $35.3B

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $2.47B
TOP IMPORT POTENTIALNetherlands+ $1.42B

Refined Petroleum’s highest export potential is Germany. With an export gap of $2.47B.   Refined Petroleum’s highest import potential is Netherlands with an import gap of $1.42B.

See methodology.

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