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2023
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Exports $1.98BRnk 34 / 220
2023
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Top Product $202MCars
2023
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Exports $2.02BRnk 12 / 206
2023
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Top Product $507MRefined Petroleum
2023
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Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
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Economic Complexity (ECI) ECI 1.46Rnk 13 / 132
2023
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GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
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GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
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 GDP$296BCURRENT US$
Rnk 47 / 195
2013-2023
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GDP GROWTH9.35%CURRENT US$
Rnk 158 / 195
2023
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GDP PC $54,701CURRENT US$
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2013-2023
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GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
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GDP PC$52,926CURRENT US$
Rnk 23 / 196
2013-2023
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GDP PC GROWTH6.51%CURRENT US$
Rnk 144 / 195

About

Belgium-Finland Trade: In 2023, Belgium exported $1.98B to Finland. The main products that Belgium exported to Finland were Cars ($202M), Refined Copper ($173M), and Refined Petroleum ($145M). Over the past 5 years the exports of Belgium to Finland have increased at an annualized rate of 6.49%, from $1.44B in 2018 to $1.98B in 2023.

In 2020, Belgium exported services to Finland worth $691M, with Other business services ($432M), Transportation ($130M), and Computer and information services ($68.5M) being the largest in terms of value.

Finland-Belgium Trade: In 2023, Finland exported $2.02B to Belgium. The main products that Finland exported to Belgium were Refined Petroleum ($507M), Kaolin Coated Paper ($127M), and Inedible Fats and Oils ($92M). Over the past 5 years the exports of Finland to Belgium have increased at an annualized rate of 0.54%,  from $1.97B in 2018 to $2.02B in 2023.

In 2020, Finland exported services to Belgium worth $299M, with Computer and information services ($103M), Other business services ($95.9M), and Transportation ($67.4M) 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, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €166M and imported €133M from Finland, resulting in a positive trade balance of €32.6M. Between October 2023 and October 2024 the exports of Belgium have increased by €25.8M (18.4%) from €140M to €166M, while imports increased by €7.4M (5.88%) from €126M to €133M.

Trade In October 2024, the top exports of Belgium to Finland were Cars, tractors, trucks & parts thereof. (€25.6M), Machinery, mechanical appliances, & parts (€18.2M), Pharmaceutical products (€14.6M), Plastics & articles thereof (€12.1M), and Electrical machinery and electronics (€5.96M). In October 2024 the top imports of Belgium from Finland were Mineral fuels, mineral oils and products... (€80.7M), Paper articles (€10.1M), Machinery, mechanical appliances, & parts (€10M), Inorganic chemicals (€4.8M), and Ores, slag and ash (€4.72M).

Growth In October 2024, the increase in Belgium's year-by-year exports to Finland was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. (€13M or 103%), Cermet articles (€4.36M or 13.5k%), and Machinery, mechanical appliances, & parts (€3.38M or 22.8%). In October 2024, the increase in Belgium's year-by-year imports  from Finland was explained primarily by an increase in product imports  in Mineral fuels, mineral oils and products... (€42.6M or 112%), Ores, slag and ash (€4.31M or 1.03k%), and Nickel articles (€3.96M or 65.1k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€25.8M(18.4%)
IMPORT GROWTH (October 2023 - October 2024)€7.4M(5.88%)

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 Finland and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Finland and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $1.98B to Finland. The main products exported from Belgium to Finland were Cars ($202M), Refined Copper ($173M), and Refined Petroleum ($145M). During the last 5 years the exports of Belgium to Finland have increased at an annualized rate of 6.49%, from $1.44B in 2018 to $1.98B in 2023.

In 2018, Finland exported $2.02B to Belgium. The main products exported from Finland to Belgium were Refined Petroleum ($507M), Kaolin Coated Paper ($127M), and Inedible Fats and Oils ($92M). During the last 5 years the exports of Finland to Belgium have increased at an annualized rate of 0.54%, from $1.97B in 2023 to $2.02B in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Finland
Top DestinationUnited States$9.68B

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

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

In 2023, countries that imported more from Finland than Belgium included Estonia ($2.4B), Latvia ($1.1B), and Lithuania ($1.09B).

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

Comparative Advantage Belgium - Finland

Flow
Scale

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

During 2023, Belgium had a large net trade with Finland in the exports of Chemical Products ($321M), Machines ($284M), and Metals ($280M).

During 2018, Finland had a large net trade with Belgium in the exports of Mineral Products ($623M), Paper Goods ($291M), and Chemical Products ($283M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Finland+$56MRefined Petroleum
Top Product Potential Finland Belgium+$23.6MPackaged 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

In 2020, Belgium exported services to Finland worth $691M, with Other business services ($432M), Transportation ($130M), and Computer and information services ($68.5M) being the largest in terms of value.

In 2020, Finland exported services to Belgium worth $299M, with Computer and information services ($103M), Other business services ($95.9M), and Transportation ($67.4M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Belgium (Flag) to Finland (Flag) (2020)

Services Exports from Finland (Flag) to Belgium (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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