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2023
Exports $540MWorld Rnk 9 / 168
Flag Rnk 144 / 1216
2023
Destination $84.6M Germany
2022 - 2023
FASTEST GROWING MARKET $84.6MJapan
2023
PRODUCT COMPLEXITY IN Unpackaged Medicaments0.55Rnk 344 / 1025
2023
Imports $3.73BWorld Rnk 1 / 220
Flag Rnk 14 / 1213
2023
Origin $2.63BN/A
2022 - 2023
FASTEST GROWING ORIGIN $2.63BIreland
2023
ECONOMIC COMPLEXITY of Belgium1.23Rnk 20 / 132

About

Exports In 2023, Belgium exported $540M in Unpackaged Medicaments, making it the 9th largest exporter of Unpackaged Medicaments in the world. At the same year, Unpackaged Medicaments was the 144th most exported product in Belgium. The main destination of Unpackaged Medicaments exports from Belgium are: Germany ($90.2M), Japan ($86.1M), Ireland ($81.4M), Hungary ($68.5M), and Italy ($38.1M).

The fastest growing export markets for Unpackaged Medicaments of Belgium between 2022 and 2023 were Japan ($84.6M), Germany ($82.4M), and Hungary ($64.7M).

Imports In 2023, Belgium imported $3.73B in Unpackaged Medicaments, becoming the 1st largest importer of Unpackaged Medicaments in the world. At the same year, Unpackaged Medicaments was the 14th most imported product in Belgium. Belgium imports Unpackaged Medicaments primarily from: N/A.

The fastest growing import markets in Unpackaged Medicaments for Belgium between 2022 and 2023 were Ireland ($2.63B), United States ($607M), and Singapore ($264M).

Latest Trends

October 2024

About

Overview In October 2024 Belgium's Unpackaged Medicaments exports accounted up to €121M and imports accounted up to €258M, resulting in a negative trade balance of €138M. Between October 2023 and October 2024 the exports of Belgium's   Unpackaged Medicaments have decreased by €-6.68M (-5.24%) from €127M to €121M, while imports decreased by €-17.1M (-6.19%) from €275M to €258M.

Destinations In October 2024, Unpackaged Medicaments were exported mostly to Germany (€73.4M), Czechia (€28.1M), Japan (€5.52M), Italy (€3.14M), and United States (€3.03M), and were imported mostly from Ireland (€240M), United States (€9.78M), India (€3.9M), Netherlands (€2.12M), and Italy (€1.3M).

Growth In October 2024, the decrease in Unpackaged Medicaments's year-by-year exports was explained primarily by a decrease in exports to Ireland (€-9.3M or -93.8%), Italy (€-6.62M or -76.6%), and Switzerland (€-906k or -100%). In October 2024, the decrease in Unpackaged Medicaments's year-by-year imports was explained primarily by a decrease in imports from Japan (€-4.92M or -71.4%), United States (€-126k or -45.3%), and India (€-51.9k or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)€-6.68M(-5.24%)
IMPORT GROWTH (October 2023 - October 2024)€-17.1M(-6.19%)
MAIN DESTINATION (October 2024)Germany€73.4M

This section shows Unpackaged 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 Unpackaged Medicaments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$540M
IMPORTS (2023)$3.73B
NET TRADE (2023)-$3.19B

In 2023, Belgium exported $540M in Unpackaged Medicaments. The main destinations of Belgium exports on Unpackaged Medicaments were Germany ($90.2M), Japan ($86.1M), Ireland ($81.4M), Hungary ($68.5M), and Italy ($38.1M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Unpackaged Medicaments EXPORT MARKETS FOR Belgium WERE (2022 - 2023):
Japan$84.6M (5.49k%)
Germany$82.4M (1.06k%)
Hungary$64.7M (1.67k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Unpackaged Medicaments BY Belgium WERE (2022 - 2023):
Italy-$45.7M (-54.5%)
United States-$14M (-30.5%)
Spain-$7.22M (-51.5%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Belgium's main exporting competitors in Unpackaged Medicaments were:
Ireland $3.03B
Portugal $2.97B
United States $2.92B
In 2023, Belgium's main importing competitors in Unpackaged Medicaments were:
United States $2.15B
Canada $1.87B

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Trade Value of Unpackaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $15.8M
TOP IMPORT POTENTIALGermany+ $10.7M

Unpackaged Medicaments’s highest export potential is Germany. With an export gap of $15.8M.   Unpackaged Medicaments’s highest import potential is Germany with an import gap of $10.7M.

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