Belgium (BEL) and Switzerland (CHE) Trade | The Observatory of Economic Complexity

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Belgium (BEL) and Switzerland (CHE) Trade

2022

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Exports $4.92BRnk 16 / 222

2022

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About

Belgium-Switzerland Trade: In 2022, Belgium exported $4.92B to Switzerland. The main products that Belgium exported to Switzerland were Diamonds ($634M), Vaccines, blood, antisera, toxins and cultures ($524M), and Gold ($301M). Over the past 5 years the exports of Belgium to Switzerland have decreased at an annualized rate of 1.13%, from $5.21B in 2017 to $4.92B in 2022.

In 2020, Belgium exported services to Switzerland worth $6.32B, with Transportation ($2.53B), Other business services ($2.51B), and Computer and information services ($455M) being the largest in terms of value.

Switzerland-Belgium Trade: In 2022, Switzerland exported $5.4B to Belgium. The main products that Switzerland exported to Belgium were Vaccines, blood, antisera, toxins and cultures ($1.61B), Packaged Medicaments ($713M), and Orthopedic Appliances ($438M). Over the past 5 years the exports of Switzerland to Belgium have decreased at an annualized rate of 3.72%, from $6.53B in 2017 to $5.4B in 2022.

In 2019, Switzerland exported services to Belgium worth $1.03B, with Financial services ($261M), Transportation ($214M), and Royalties and license fees ($214M) being the largest in terms of value.

Comparison: In 2022, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Switzerland ranked 2 in the Economic Complexity Index (ECI 1.97), and 17 in total exports ($402B).

Latest Trends

July, 2024

About

Overview In July 2024, Belgium exported €398M and imported €781M from Switzerland, resulting in a negative trade balance of €383M. Between July 2023 and July 2024 the exports of Belgium have increased by €112M (39.3%) from €286M to €398M, while imports decreased by €-49.5M (-5.96%) from €830M to €781M.

Trade In July 2024, the top exports of Belgium to Switzerland were Pharmaceutical products (€74.2M), Precious stones, metals, & pearls (€56M), Mineral fuels, mineral oils and products... (€35.8M), Machinery, mechanical appliances, & parts (€25.1M), and Cars, tractors, trucks & parts thereof. (€25M). In July 2024 the top imports of Belgium from Switzerland were Pharmaceutical products (€758M), Optical, photo, & film equipment; medical... (€43.2M), Machinery, mechanical appliances, & parts (€19.4M), Clocks, watches, & parts (€10.3M), and Electrical machinery and electronics (€10.1M).

Growth In July 2024, the increase in Belgium's year-by-year exports to Switzerland was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... (€26.9M or 300%), Precious stones, metals, & pearls (€10.3M or 22.6%), and Machinery, mechanical appliances, & parts (€8.48M or 50.9%). In July 2024, the decrease in Belgium's year-by-year imports from Switzerland was explained primarily by an decrease in product imports in Precious stones, metals, & pearls (€-30.4M or -79.3%), Perfumery & cosmetics (€-4.33M or -64.5%), and Art & antiques (€-1.76M or -74.7%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (July 2023 - July 2024)€112M(39.3%)

IMPORT GROWTH (July 2023 - July 2024)€-49.5M(-5.96%)

This section shows exports and imports data at subnational level for Belgium. Click any date in the line plot or any product to explore the exports or imports behavior of Belgium over time.

To check Switzerland and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Belgium exported $4.92B to Switzerland. The main products exported from Belgium to Switzerland were Diamonds ($634M), Vaccines, blood, antisera, toxins and cultures ($524M), and Gold ($301M). During the last 5 years the exports of Belgium to Switzerland have decreased at an annualized rate of 1.13%, from $5.21B in 2017 to $4.92B in 2022.

In 2017, Switzerland exported $5.4B to Belgium. The main products exported from Switzerland to Belgium were Vaccines, blood, antisera, toxins and cultures ($1.61B), Packaged Medicaments ($713M), and Orthopedic Appliances ($438M). During the last 5 years the exports of Switzerland to Belgium have decreased at an annualized rate of 3.72%, from $6.53B in 2022 to $5.4B in 2017.

Exports from Belgium () to Switzerland () (2022)

Exports from Switzerland () to Belgium () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Belgium
Top DestinationGermany$91.9B

Switzerland
Top DestinationUnited States$61.7B

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

In 2022, countries that imported more from Belgium than Switzerland included Netherlands ($65.7B), France ($71.1B), and Germany ($91.9B).

In 2022, countries that imported more from Switzerland than Belgium included China ($44.1B), United States ($61.7B), and Slovenia ($11.7B).

Difference in imports from Switzerland () and Belgium () (2022)

Comparative Advantage Belgium - Switzerland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Belgium had a large net trade with Switzerland in the exports of Chemical Products ($1.35B), Precious Metals ($1.12B), and Plastics and Rubbers ($401M).

During 2017, Switzerland had a large net trade with Belgium in the exports of Chemical Products ($2.86B), Instruments ($925M), and Machines ($552M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Belgium Switzerland+$308MVaccines, blood, antisera, toxins and cultures

Top Product Potential Switzerland Belgium+$412MPackaged 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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Bilateral Service Trade

Che Year

Bel Year

In 2019, Switzerland exported services to Belgium worth $1.03B, with Financial services ($261M), Transportation ($214M), and Royalties and license fees ($214M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Belgium () to Switzerland () (2020)

Services Exports from Switzerland () to Belgium () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of Belgium () and Switzerland () (2022)

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