2023
Flag  
GDP
$645BCURRENT US$
Rnk 23 / 195
2013-2023
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GDP GROWTH
23%CURRENT US$
Rnk 132 / 195
2023
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 GDP
$1.73TCURRENT US$
Rnk 13 / 195
2013-2023
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GDP GROWTH
9.57%CURRENT US$
Rnk 156 / 195
2023
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GDP PC 
$54,701CURRENT US$
Rnk 20 / 195
2013-2023
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GDP PC GROWTH
16.5%CURRENT US$
Rnk 113 / 195
2023
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GDP PC
$64,821CURRENT US$
Rnk 16 / 196
2013-2023
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GDP PC GROWTH
-4.94%CURRENT US$
Rnk 159 / 195

About

Belgium-Australia Trade: In 2023, Belgium exported $2.15B to Australia. The main products that Belgium exported to Australia were Vaccines, blood, antisera, toxins and cultures ($748M), Packaged Medicaments ($187M), and Other Frozen Vegetables ($135M). Over the past 5 years the exports of Belgium to Australia have increased at an annualized rate of 5.3%, from $1.66B in 2018 to $2.15B in 2023.

In 2020, Belgium exported services to Australia worth $298M, with Other business services ($155M), Transportation ($57.1M), and Communications services ($32M) being the largest in terms of value.

Australia-Belgium Trade: In 2023, Australia exported $1.14B to Belgium. The main products that Australia exported to Belgium were Rapeseed ($509M), Coal Briquettes ($357M), and Non-Iron and Steel Slag, Ash and Residues ($37.7M). Over the past 5 years the exports of Australia to Belgium have increased at an annualized rate of 6.16%,  from $847M in 2018 to $1.14B in 2023.

In 2009, Australia exported services to Belgium worth $99M, with Travel ($60.2M), Transportation ($16.6M), and Other business services ($8.71M) being the largest in terms of value.

Comparison: In 2023,  Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B). That same year, Australia ranked 75 in the Economic Complexity Index (ECI -0.28), and 20 in total exports ($374B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $2.15B to Australia. The main products exported from Belgium to Australia were Vaccines, blood, antisera, toxins and cultures ($748M), Packaged Medicaments ($187M), and Other Frozen Vegetables ($135M). During the last 5 years the exports of Belgium to Australia have increased at an annualized rate of 5.3%, from $1.66B in 2018 to $2.15B in 2023.

In 2018, Australia exported $1.14B to Belgium. The main products exported from Australia to Belgium were Rapeseed ($509M), Coal Briquettes ($357M), and Non-Iron and Steel Slag, Ash and Residues ($37.7M). During the last 5 years the exports of Australia to Belgium have increased at an annualized rate of 6.16%, from $847M in 2023 to $1.14B in 2018.

Exports from Belgium (Flag) to Australia (Flag) (2023)

Exports from Australia (Flag) to Belgium (Flag) (2023)

Market Competitiveness

Color
Belgium
Top Destination
France$85.6B
Australia
Top Destination
China$137B

This map shows whether countries import more from Belgium or Australia. Each country is colored based on the difference in imports they receive from Belgium and Australia or the difference in the growth in imports.

In 2023, countries that imported more from Belgium than Australia included France ($85.6B), Netherlands ($67.3B), and Germany ($60.8B).

In 2023, countries that imported more from Australia than Belgium included China ($137B), Japan ($59B), and South Korea ($20.9B).

Difference in imports from Australia (Flag) and Belgium (Flag) (2023)

Comparative Advantage Belgium - Australia

Flow
Scale

This chart compares trade between Belgium and Australia by product, considering products traded by both, Belgium and Australia.

During 2023, Belgium had a large net trade with Australia in the exports of Chemical Products ($1.08B), Machines ($320M), and Foodstuffs ($279M).

During 2018, Australia had a large net trade with Belgium in the exports of Vegetable Products ($540M), Mineral Products ($425M), and Metals ($41.7M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Australia+$71.7MPackaged Medicaments
Top Product Potential Australia Belgium+$18.8MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Belgium and Australia. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Australia. Similarly, a dot/product with the flag of Australia indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Australia (Flag) (2023)

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