Flag Belgium-Luxembourg

Product Exports (2018): $442B, Rank 10 of 222

Product Imports (2018): $432B, Rank 12 of 221

Overview: In 2018 Belgium-Luxembourg was the number 10 in total exports and the number 12 in total imports. In 2018, Belgium-Luxembourg exported $442B and imported $432B, resulting in a positive trade balance of $9.59B.

Trade: The top exports of Belgium-Luxembourg are Cars ($29.4B), Refined Petroleum ($27.1B), Packaged Medicaments ($23.5B), Diamonds ($16.6B), and Blood, antisera, vaccines, toxins and cultures ($16.2B). The top imports of Belgium-Luxembourg are Cars ($29.4B), Refined Petroleum ($24B), Packaged Medicaments ($16.6B), Diamonds ($16.4B), and Blood, antisera, vaccines, toxins and cultures ($16.3B).

Destinations: Belgium-Luxembourg exports mostly to Germany ($77.4B), France ($62.3B), Netherlands ($57.5B), United Kingdom ($36.7B), and Italy ($23.8B), and imports mostly from Netherlands ($71.3B), Germany ($59B), France ($42.9B), United States ($32B), and United Kingdom ($20.1B).

Product Exports

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Top Export (2018): Cars, $29.4B

Top Destination (2018): Germany, $77.4B

In 2018 Belgium-Luxembourg exported a total of $442B, making it the number 10 exporter in the world. During the last five reported years the exports of Belgium-Luxembourg have changed by $48.6B from $393B in 2013 to $442B in 2018.

The most recent exports are led by Cars ($29.4B), Refined Petroleum ($27.1B), Packaged Medicaments ($23.5B), Diamonds ($16.6B), and Blood, antisera, vaccines, toxins and cultures ($16.2B). The most common destination for the exports of Belgium-Luxembourg are Germany ($77.4B), France ($62.3B), Netherlands ($57.5B), United Kingdom ($36.7B), and Italy ($23.8B).

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Product Imports

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Top Import (2018): Cars, $29.4B

Top Origin (2018): Netherlands, $71.3B

In 2018 Belgium-Luxembourg imported $432B, making it the number 12 trade destination in the world. During the last five reported years the imports of Belgium-Luxembourg changed by -$52.9B from $485B in 2013 to $432B in 2018.

The most recent imports of Belgium-Luxembourg are led by Cars ($29.4B), Refined Petroleum ($24B), Packaged Medicaments ($16.6B), Diamonds ($16.4B), and Blood, antisera, vaccines, toxins and cultures ($16.3B). The most common import partners for Belgium-Luxembourg are Netherlands ($71.3B), Germany ($59B), France ($42.9B), United States ($32B), and United Kingdom ($20.1B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Trade Forecasts

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This section shows forecasts for total product exports and imports for Belgium-Luxembourg. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Most Specialized Products by RCA Index

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Belgium-Luxembourg has a high level of specialization in Looms (12.7), Zinc Powder (12.2), Flax Fibers (11.9), Other Frozen Vegetables (9.58), and Vegetable and Mineral Carvings (9.27). Specialization is measured using RCA, an index that takes the ratio between Belgium-Luxembourg observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Belgium-Luxembourg according to the product complexity index (PCI) are Machining centre, single/multistation transfer machine (2.58), Photograph film, rolls, unexposed, not paper (2.02), Machine-tools for non-mechanical removal of material (2.01), Lathes for removing metal (1.9), and Gaskets and similar joints of metal sheet (1.86). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Belgium-Luxembourg according to the relatedness index, are Leather Used in Machinery (0.47), Tin Plating (0.46), Bovine, Sheep, and Goat Fat (0.43), Laboratory Reagents (0.42), and Petroleum Coke (0.41). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Belgium-Luxembourg is not specialized in.

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 it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.