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2022
Flag → Flag
Exports $116MRnk 110 / 222
2022
Flag → Flag
Top Product $19.8MCars
2022
Flag → Flag
Exports $54.9MRnk 22 / 154
2022
Flag → Flag
Top Product $24.7MCars
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.036Rnk 64 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$24.6BCURRENT US$
Rnk 109 / 186
2012-2022
Flag
GDP GROWTH49.2%CURRENT US$
Rnk 64 / 186
2022
Flag
GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
Flag
GDP PC$6,628CURRENT US$
Rnk 99 / 186
2012-2022
Flag
GDP PC GROWTH49.9%CURRENT US$
Rnk 36 / 186

About

Belgium-Georgia Trade: In 2022, Belgium exported $116M to Georgia. The main products that Belgium exported to Georgia were Cars ($19.8M), Medical Instruments ($8.85M), and Vaccines, blood, antisera, toxins and cultures ($5.84M). Over the past 5 years the exports of Belgium to Georgia have increased at an annualized rate of 10.7%, from $69.8M in 2017 to $116M in 2022.

In 2022, Belgium did not export any services to Georgia.

Georgia-Belgium Trade: In 2022, Georgia exported $54.9M to Belgium. The main products that Georgia exported to Belgium were Cars ($24.7M), Refined Petroleum ($14.8M), and Molybdenum Ore ($4.83M). Over the past 5 years the exports of Georgia to Belgium have increased at an annualized rate of 17.6%,  from $24.4M in 2017 to $54.9M in 2022.

In 2022, Georgia did not export any services to Belgium.

Comparison: In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Georgia ranked 64 in the Economic Complexity Index (ECI 0.036), and 118 in total exports ($6.82B).

Latest Trends

August, 2024

About

Overview In August 2024, Belgium exported €7.7M and imported €254k from Georgia, resulting in a positive trade balance of €7.44M. Between August 2023 and August 2024 the exports of Belgium have increased by €687k (9.8%) from €7.01M to €7.7M, while imports decreased by €-18.4M (-98.6%) from €18.6M to €254k.

Trade In August 2024, the top exports of Belgium to Georgia were Cars, tractors, trucks & parts thereof. (€1.4M), Tobacco & substitutes (€1.07M), Optical, photo, & film equipment; medical... (€875k), Chemical products n.e.s. (€450k), and Pharmaceutical products (€432k). In August 2024 the top imports of Belgium from Georgia were Edible fruits, nuts & fruit peels (€118k), Iron/Steel Articles (€116k), Beverages, spirits, & vinegar (€62.1k), Knitted clothing accesories (€62k), and Plastics & articles thereof (€20.5k).

Growth In August 2024, the increase in Belgium's year-by-year exports to Georgia was explained primarily by an increase in product exports in Tobacco & substitutes (€1.05M or 9.23k%), Machinery, mechanical appliances, & parts (€320k or 471%), and Chemical products n.e.s. (€281k or 167%). In August 2024, the decrease in Belgium's year-by-year imports  from Georgia was explained primarily by an decrease in product imports  in Organic chemicals (€-4.35M or -99.8%), Plastics & articles thereof (€-65.6k or -76.2%), and Chemical products n.e.s. (€-2.16k or -98.6%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)€687k(9.8%)
IMPORT GROWTH (August 2023 - August 2024)€-18.4M(-98.6%)

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 Georgia and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Georgia and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $116M to Georgia. The main products exported from Belgium to Georgia were Cars ($19.8M), Medical Instruments ($8.85M), and Vaccines, blood, antisera, toxins and cultures ($5.84M). During the last 5 years the exports of Belgium to Georgia have increased at an annualized rate of 10.7%, from $69.8M in 2017 to $116M in 2022.

In 2017, Georgia exported $54.9M to Belgium. The main products exported from Georgia to Belgium were Cars ($24.7M), Refined Petroleum ($14.8M), and Molybdenum Ore ($4.83M). During the last 5 years the exports of Georgia to Belgium have increased at an annualized rate of 17.6%, from $24.4M in 2022 to $54.9M in 2017.

Exports from Belgium (Flag) to Georgia (Flag) (2022)

Exports from Georgia (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Georgia
Top DestinationChina$759M

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

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

In 2022, countries that imported more from Georgia than Belgium included Azerbaijan ($668M), Armenia ($571M), and Kyrgyzstan ($92.5M).

Difference in imports from Georgia (Flag) and Belgium (Flag) (2022)

Comparative Advantage Belgium - Georgia

Flow
Scale

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

During 2022, Belgium had a large net trade with Georgia in the exports of Transportation ($31.3M), Chemical Products ($24.5M), and Foodstuffs ($13.7M).

During 2017, Georgia had a large net trade with Belgium in the exports of Transportation ($24.7M), Mineral Products ($21.4M), and Chemical Products ($4.51M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Georgia+$15.4MCars
Top Product Potential Georgia Belgium+$7.34MRefined Petroleum

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 Georgia. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Georgia. Similarly, a dot/product with the flag of Georgia indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Georgia (Flag) (2022)

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