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Overview In 2021, Belgium was the number 23 economy in the world in terms of GDP (current US$), the number 15 in total exports, the number 14 in total imports, the number 25 economy in terms of GDP per capita (current US$) and the number 18 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Belgium are Vaccines, blood, antisera, toxins and cultures ($47.2B), Cars ($23B), Packaged Medicaments ($22.3B), Refined Petroleum ($18.1B), and Diamonds ($13.9B), exporting mostly to Germany ($62.7B), France ($59.9B), Netherlands ($50.4B), United Kingdom ($26B), and United States ($24.7B).

In 2021, Belgium was the world's biggest exporter of Vaccines, blood, antisera, toxins and cultures ($47.2B), Other Frozen Vegetables ($2.34B), Looms ($708M), Vegetable and Mineral Carvings ($223M), and Zinc Powder ($138M)

Imports The top imports of Belgium are Cars ($25.4B), Vaccines, blood, antisera, toxins and cultures ($22.5B), Refined Petroleum ($21.1B), Packaged Medicaments ($19.8B), and Petroleum Gas ($19.7B), importing mostly from Netherlands ($80.2B), Germany ($59.1B), France ($43.8B), United States ($28.7B), and China ($26.4B).

In 2021, Belgium was the world's biggest importer of Non-Iron and Steel Slag, Ash and Residues ($3.26B), Raw Tobacco ($864M), Potatoes ($518M), Linseed ($348M), and Antimony ($107M)

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

Latest Trends

October, 2023

Historical Data

Yearly Trade

Flow
Color
Depth
Top Destination (2021)Germany$62.7B

In 2021, Belgium exported a total of $403B, making it the number 15 exporter in the world. During the last five reported years the exports of Belgium have changed by $121B from $282B in 2016 to $403B in 2021.

The most recent exports are led by Vaccines, blood, antisera, toxins and cultures ($47.2B), Cars ($23B), Packaged Medicaments ($22.3B), Refined Petroleum ($18.1B), and Diamonds ($13.9B). The most common destination for the exports of Belgium are Germany ($62.7B), France ($59.9B), Netherlands ($50.4B), United Kingdom ($26B), and United States ($24.7B).

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Exports (2021)
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Destinations (2021)
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Market Growth

Flow
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Fastest Growing Export Markets (2020 - 2021)
Germany$17B (+ 37.1%)
France$15.3B (+ 34.2%)
Netherlands$11.9B (+ 30.8%)
Fastest Growing Import Markets (2020 - 2021)
Netherlands$23.6B (+ 41.8%)
Germany$11.3B (+ 23.7%)
France$9.19B (+ 26.6%)

Total Export Growth by Market (2020 - 2021)

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)1.28Rank 18 of 131
Economic Complexity (Technology)1.08Rank 15 of 96
Economic Complexity (Research)1.8Rank 9 of 140

Most Specialized Products by RCA Index

Belgium has a high level of specialization in Looms (16.4), Flax Fibers (14.4), Other Frozen Vegetables (12.5), Zinc Powder (12.2), and Cobalt Oxides and Hydroxides (10.7). 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

The highest complexity exports of Belgium according to the product complexity index (PCI) are Chemical preparations for photographic uses (other than varnishes, glues, adhesives and similar... (2.02), Esters of other inorganic acids of non-metals (other than of hydrogen halides)... (1.92), Photographic film in rolls, sensitised, unexposed, of any material other than paper,... (1.87), Silicones in primary forms (1.68), and Tools; plates, sticks, tips and the like for tools, unmounted, of sintered... (1.63). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Belgium according to the relatedness index, were Lard stearin and oils (0.4), Casein (0.39), Typewriters (0.39), Sheet Music (0.39), and X-Ray Equipment (0.38). 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.

Diversification Frontier

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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.

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Belgium's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨12th to the 18th⁩ 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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