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2022
Flag → Flag
Exports $233MRnk 84 / 222
2022
Flag → Flag
Top Product $73.4MRefined Petroleum
2022
Flag → Flag
Exports $7.14MRnk 20 / 105
2022
Flag → Flag
Top Product $3.15MDiamonds
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag
Economic Complexity (ECI) ECI -2.2Rnk 132 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$21.2BCURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP GROWTH178%CURRENT US$
Rnk 4 / 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$1,532CURRENT US$
Rnk 157 / 186
2012-2022
Flag
GDP PC GROWTH116%CURRENT US$
Rnk 6 / 186

About

Belgium-Guinea Trade: In 2022, Belgium exported $233M to Guinea. The main products that Belgium exported to Guinea were Refined Petroleum ($73.4M), Cars ($44.5M), and Sauces and Seasonings ($21.7M). Over the past 5 years the exports of Belgium to Guinea have increased at an annualized rate of 13%, from $126M in 2017 to $233M in 2022.

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

Guinea-Belgium Trade: In 2022, Guinea exported $7.14M to Belgium. The main products that Guinea exported to Belgium were Diamonds ($3.15M), Cocoa Beans ($1.54M), and Scrap Copper ($1.37M). Over the past 5 years the exports of Guinea to Belgium have decreased at an annualized rate of 11.3%,  from $13M in 2017 to $7.14M in 2022.

In 2022, Guinea 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, Guinea ranked 132 in the Economic Complexity Index (ECI -2.2), and 101 in total exports ($10.4B).

Latest Trends

July, 2024

About

Overview In July 2024, Belgium exported €11.4M and imported €1.73M from Guinea, resulting in a positive trade balance of €9.63M. Between July 2023 and July 2024 the exports of Belgium have decreased by €-36.2M (-76.1%) from €47.6M to €11.4M, while imports increased by €1.73M (25.8k%) from €6.69k to €1.73M.

Trade In July 2024, the top exports of Belgium to Guinea were Cars, tractors, trucks & parts thereof. (€5.23M), Miscellaneous edible preparations (€2.87M), Pharmaceutical products (€2.25M), Machinery, mechanical appliances, & parts (€987k), and Electrical machinery and electronics (€342k). In July 2024 the top imports of Belgium from Guinea were Coffee, tea, mate & spices (€81.8k), Soap, cleaners, candles, dental, modelling pastes (€7.04k), Coated, covered, & laminated fabrics for... (€3.37k), Non-knitted clothing accesories (€2.52k), and Edible vegetables, roots, & tubers (€784).

Growth In July 2024, the decrease in Belgium's year-by-year exports to Guinea was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. (€-1.15M or -18%), Electrical machinery and electronics (€-599k or -63.6%), and Iron or steel articles (€-433k or -69%). In July 2024, the increase in Belgium's year-by-year imports  from Guinea was explained primarily by an increase in product imports  in Coffee, tea, mate & spices (€81.6k or 33.3k%), Coated, covered, & laminated fabrics for... (€2.72k or 417%), and Perfumery & cosmetics (€37 or 88.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)€-36.2M(-76.1%)
IMPORT GROWTH (July 2023 - July 2024)€1.73M(25.8k%)

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 Guinea and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Guinea and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $233M to Guinea. The main products exported from Belgium to Guinea were Refined Petroleum ($73.4M), Cars ($44.5M), and Sauces and Seasonings ($21.7M). During the last 5 years the exports of Belgium to Guinea have increased at an annualized rate of 13%, from $126M in 2017 to $233M in 2022.

In 2017, Guinea exported $7.14M to Belgium. The main products exported from Guinea to Belgium were Diamonds ($3.15M), Cocoa Beans ($1.54M), and Scrap Copper ($1.37M). During the last 5 years the exports of Guinea to Belgium have decreased at an annualized rate of 11.3%, from $13M in 2022 to $7.14M in 2017.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Guinea
Top DestinationChina$3.81B

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

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

In 2022, countries that imported more from Guinea than Belgium included Brunei ($36.8M).

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

Comparative Advantage Belgium - Guinea

Flow
Scale

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

During 2022, Belgium had a large net trade with Guinea in the exports of Mineral Products ($86.7M), Transportation ($70.9M), and Foodstuffs ($27.8M).

During 2017, Guinea had a large net trade with Belgium in the exports of Precious Metals ($3.15M), Foodstuffs ($1.54M), and Metals ($1.37M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Guinea+$13.3MRefined Petroleum
Top Product Potential Guinea Belgium+$2.1MDiamonds

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

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

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