About

Overview In 2022, Belgium was the number 25 economy in the world in terms of GDP (current US$), the number 13 in total exports, the number 14 in total imports, the number 19 economy in terms of GDP per capita (current US$) and the number 19 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Belgium are Petroleum Gas ($54.7B), Vaccines, blood, antisera, toxins and cultures ($47.1B), Refined Petroleum ($32.4B), Packaged Medicaments ($24.8B), and Cars ($22.6B), exporting mostly to Germany ($91.9B), France ($71.1B), Netherlands ($65.7B), United States ($29B), and Italy ($22.5B).

In 2022, Belgium was the world's biggest exporter of Other Frozen Vegetables ($3.05B), Looms ($706M), Hydrogen peroxide ($133M), Felt Carpets ($128M), and Zinc Powder ($123M)

Imports The top imports of Belgium are Petroleum Gas ($44.8B), Refined Petroleum ($28.5B), Cars ($28.2B), Packaged Medicaments ($24.3B), and Vaccines, blood, antisera, toxins and cultures ($20.7B), importing mostly from Netherlands ($94.3B), Germany ($61.6B), France ($47.8B), United States ($30.7B), and China ($30.5B).

In 2022, Belgium was the world's biggest importer of Raw Tobacco ($1.37B), Potatoes ($524M), Other Nitrogen Compounds ($406M), Nonmetal Sulfides ($39.5M), and Chalk ($15.8M)

Location Belgium borders France, Germany, Luxembourg, and Netherlands by land and United Kingdom by sea.

Latest Trends

June, 2024

Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Petroleum Gas$54.7B
Top Destination (2022)Germany$91.9B

In 2022, Belgium exported a total of $475B, making it the number 13 exporter in the world. During the last five reported years the exports of Belgium have changed by $170B from $305B in 2017 to $475B in 2022.

The most recent exports are led by Petroleum Gas ($54.7B), Vaccines, blood, antisera, toxins and cultures ($47.1B), Refined Petroleum ($32.4B), Packaged Medicaments ($24.8B), and Cars ($22.6B). The most common destination for the exports of Belgium are Germany ($91.9B), France ($71.1B), Netherlands ($65.7B), United States ($29B), and Italy ($22.5B).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
Germany$28.7B (+ 45.4%)
Netherlands$15B (+ 29.5%)
France$10.2B (+ 16.7%)
Fastest Growing Import Markets (2021 - 2022)
Netherlands$14.5B (+ 18.3%)
Norway$10.1B (+ 99.6%)
United Kingdom$5.77B (+ 31.4%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Belgium Exports Services (2020)$93.3B
Belgium Imports Services (2020)$96.4B

In 2020, Belgium exported $93.3B worth of services. The top services exported by Belgium in 2020 were Miscellaneous business, professional, and technical services ($38B), Other transport ($12.8B), Sea transport ($8.29B), Personal travel ($5.94B), and Financial services ($5.49B).

The top services imported by Belgium in 2020 were Miscellaneous business, professional, and technical services ($38.8B), Other transport ($14.3B), Personal travel ($11.4B), Sea transport ($7.18B), and Financial services ($6.12B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)1.25Rank 19 of 133
Economic Complexity (Technology)1.08Rank 15 of 96
Economic Complexity (Research)1.84Rank 10 of 135

Most Specialized Products by RCA Index

Belgium has a high level of specialization in Looms (15.5), Other Frozen Vegetables (12.7), Flax Fibers (11.4), Nitric Acids (11.4), and Zinc Powder (9.73). Specialization is measured using RCA, an index that takes the ratio between Belgium observed and expected exports in each product.

Most Complex Products by PCI

Export Opportunities by Relatedness

The top export opportunities for Belgium according to the relatedness index, were Petroleum Coke (0.36), Ammonia (0.36), Bulbs and Roots (0.36), Casein (0.36), and Whey and other milk products (0.35). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Belgium is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Belgium. These are products that tend to be co-exported with the products that Belgium exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

Filter
Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Belgium's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨12th to the 19th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

ECI (Trade) Ranking by Country

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