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2022
Flag → Flag
Exports $679MRnk 54 / 222
2022
Flag → Flag
Top Product $447MRefined Petroleum
2022
Flag → Flag
Exports $106MRnk 19 / 133
2022
Flag → Flag
Top Product $49.1MCocoa Beans
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.32Rnk 122 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$72.8BCURRENT US$
Rnk 77 / 186
2012-2022
Flag
GDP GROWTH76.5%CURRENT US$
Rnk 26 / 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$2,176CURRENT US$
Rnk 147 / 186
2012-2022
Flag
GDP PC GROWTH41.6%CURRENT US$
Rnk 46 / 186

About

Belgium-Ghana Trade: In 2022, Belgium exported $679M to Ghana. The main products that Belgium exported to Ghana were Refined Petroleum ($447M), Delivery Trucks ($20.3M), and Vaccines, blood, antisera, toxins and cultures ($19M). Over the past 5 years the exports of Belgium to Ghana have increased at an annualized rate of 16.5%, from $317M in 2017 to $679M in 2022.

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

Ghana-Belgium Trade: In 2022, Ghana exported $106M to Belgium. The main products that Ghana exported to Belgium were Cocoa Beans ($49.1M), Other Pure Vegetable Oils ($27.4M), and Cocoa Paste ($5.98M). Over the past 5 years the exports of Ghana to Belgium have decreased at an annualized rate of 7.46%,  from $157M in 2017 to $106M in 2022.

In 2022, Ghana 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, Ghana ranked 122 in the Economic Complexity Index (ECI -1.32), and 79 in total exports ($20B).

Latest Trends

June, 2024

About

Overview In June 2024, Belgium exported €14.3M and imported €14.4M from Ghana, resulting in a negative trade balance of €111k. Between June 2023 and June 2024 the exports of Belgium have increased by €2.44M (20.6%) from €11.9M to €14.3M, while imports increased by €9.25M (179%) from €5.17M to €14.4M.

Trade In June 2024, the top exports of Belgium to Ghana were Mineral fuels, mineral oils and products... (€29.5M), Pharmaceutical products (€12.1M), Copper articles (€1.77M), Cars, tractors, trucks & parts thereof. (€1.23M), and Machinery, mechanical appliances, & parts (€1.15M). In June 2024 the top imports of Belgium from Ghana were Cocoa & cocoa preparations (€4.33M), Animal or vegetable fats, oils, &... (€2.07M), Wood, wood articles, & charcoal (€675k), Machinery, mechanical appliances, & parts (€393k), and Cars, tractors, trucks & parts thereof. (€202k).

Growth In June 2024, the increase in Belgium's year-by-year exports to Ghana was explained primarily by an increase in product exports in Pharmaceutical products (€3.46M or 39.9%), Mineral fuels, mineral oils and products... (€2.11M or 7.71%), and Copper articles (€1.3M or 277%). In June 2024, the increase in Belgium's year-by-year imports  from Ghana was explained primarily by an increase in product imports  in Cocoa & cocoa preparations (€500k or 13.1%), Machinery, mechanical appliances, & parts (€386k or 5.82k%), and Wood, wood articles, & charcoal (€340k or 101%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (June 2023 - June 2024)€2.44M(20.6%)
IMPORT GROWTH (June 2023 - June 2024)€9.25M(179%)

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 Ghana and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Ghana and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $679M to Ghana. The main products exported from Belgium to Ghana were Refined Petroleum ($447M), Delivery Trucks ($20.3M), and Vaccines, blood, antisera, toxins and cultures ($19M). During the last 5 years the exports of Belgium to Ghana have increased at an annualized rate of 16.5%, from $317M in 2017 to $679M in 2022.

In 2017, Ghana exported $106M to Belgium. The main products exported from Ghana to Belgium were Cocoa Beans ($49.1M), Other Pure Vegetable Oils ($27.4M), and Cocoa Paste ($5.98M). During the last 5 years the exports of Ghana to Belgium have decreased at an annualized rate of 7.46%, from $157M in 2022 to $106M in 2017.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Ghana
Top DestinationUnited Arab Emirates$4.72B

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

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

In 2022, countries that imported more from Ghana than Belgium included United Arab Emirates ($4.72B) and Burkina Faso ($285M).

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

Comparative Advantage Belgium - Ghana

Flow
Scale

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

During 2022, Belgium had a large net trade with Ghana in the exports of Mineral Products ($447M), Chemical Products ($72.1M), and Transportation ($40M).

During 2017, Ghana had a large net trade with Belgium in the exports of Foodstuffs ($62.5M), Animal and Vegetable Bi-Products ($27.7M), and Wood Products ($4.84M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Ghana+$10.7MVaccines, blood, antisera, toxins and cultures
Top Product Potential Ghana Belgium+$4.13MCocoa Paste

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

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

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