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Pricing

2022
Flag → Flag
Exports $2.21BRnk 31 / 222
2022
Flag → Flag
Top Product $235MVaccines, blood, antisera, toxins and cultures
2022
Flag → Flag
Exports $646MRnk 20 / 208
2022
Flag → Flag
Top Product $53MRefined Petroleum
2022
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Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
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Economic Complexity (ECI) ECI 0.33Rnk 50 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
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 GDP$219BCURRENT US$
Rnk 54 / 186
2012-2022
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GDP GROWTH-9.49%CURRENT US$
Rnk 174 / 186
2022
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GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
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GDP PC$20,732CURRENT US$
Rnk 50 / 186
2012-2022
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GDP PC GROWTH-5.39%CURRENT US$
Rnk 154 / 186

About

Belgium-Greece Trade: In 2022, Belgium exported $2.21B to Greece. The main products that Belgium exported to Greece were Vaccines, blood, antisera, toxins and cultures ($235M), Packaged Medicaments ($208M), and Refined Petroleum ($109M). Over the past 5 years the exports of Belgium to Greece have increased at an annualized rate of 5.1%, from $1.72B in 2017 to $2.21B in 2022.

In 2020, Belgium exported services to Greece worth $279M, with Other business services ($138M), Transportation ($37.7M), and Insurance services ($34.3M) being the largest in terms of value.

Greece-Belgium Trade: In 2022, Greece exported $646M to Belgium. The main products that Greece exported to Belgium were Refined Petroleum ($53M), Petroleum Coke ($49.9M), and Copper Pipes ($42.2M). Over the past 5 years the exports of Greece to Belgium have increased at an annualized rate of 9.05%,  from $419M in 2017 to $646M in 2022.

In 2020, Greece exported services to Belgium worth $388M, with Other business services ($129M), Travel ($105M), and Transportation ($79.5M) 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, Greece ranked 50 in the Economic Complexity Index (ECI 0.33), and 57 in total exports ($55.7B).

Latest Trends

July, 2024

About

Overview In July 2024, Belgium exported €120M and imported €26.6M from Greece, resulting in a positive trade balance of €93.1M. Between July 2023 and July 2024 the exports of Belgium have decreased by €-4.78M (-3.84%) from €124M to €120M, while imports increased by €6.09M (29.8%) from €20.5M to €26.6M.

Trade In July 2024, the top exports of Belgium to Greece were Pharmaceutical products (€33.1M), Cars, tractors, trucks & parts thereof. (€17.3M), Machinery, mechanical appliances, & parts (€10.4M), Plastics & articles thereof (€9.44M), and Sugars & confectioneries (€9.34M). In July 2024 the top imports of Belgium from Greece were Mineral fuels, mineral oils and products... (€3.9M), Preparations of vegetables, fruit, nuts or... (€2.57M), Aluminum articles (€2.16M), Plastics & articles thereof (€1.79M), and Pharmaceutical products (€1.59M).

Growth In July 2024, the decrease in Belgium's year-by-year exports to Greece was explained primarily by an decrease in product exports in Pharmaceutical products (€-14.2M or -30.1%), Iron & steel (€-4.42M or -70.5%), and Organic chemicals (€-1.48M or -33.2%). In July 2024, the increase in Belgium's year-by-year imports  from Greece was explained primarily by an increase in product imports  in Mineral fuels, mineral oils and products... (€3.9M or 969k%), Edible products of animal origin, n.e.s. (€766k or 166%), and Copper articles (€605k or 81.2%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)€-4.78M(-3.84%)
IMPORT GROWTH (July 2023 - July 2024)€6.09M(29.8%)

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 Greece and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Greece and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $2.21B to Greece. The main products exported from Belgium to Greece were Vaccines, blood, antisera, toxins and cultures ($235M), Packaged Medicaments ($208M), and Refined Petroleum ($109M). During the last 5 years the exports of Belgium to Greece have increased at an annualized rate of 5.1%, from $1.72B in 2017 to $2.21B in 2022.

In 2017, Greece exported $646M to Belgium. The main products exported from Greece to Belgium were Refined Petroleum ($53M), Petroleum Coke ($49.9M), and Copper Pipes ($42.2M). During the last 5 years the exports of Greece to Belgium have increased at an annualized rate of 9.05%, from $419M in 2022 to $646M in 2017.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Greece
Top DestinationItaly$5.82B

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

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

In 2022, countries that imported more from Greece than Belgium included Cyprus ($2.92B), Bulgaria ($3.62B), and North Macedonia ($1.7B).

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

Comparative Advantage Belgium - Greece

Flow
Scale

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

During 2022, Belgium had a large net trade with Greece in the exports of Chemical Products ($714M), Machines ($185M), and Foodstuffs ($182M).

During 2017, Greece had a large net trade with Belgium in the exports of Metals ($142M), Mineral Products ($124M), and Foodstuffs ($115M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Greece+$83.4MRefined Petroleum
Top Product Potential Greece Belgium+$78.4MRefined 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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Bilateral Service Trade

In 2020, Belgium exported services to Greece worth $279M, with Other business services ($138M), Transportation ($37.7M), and Insurance services ($34.3M) being the largest in terms of value.

In 2020, Greece exported services to Belgium worth $388M, with Other business services ($129M), Travel ($105M), and Transportation ($79.5M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Greece (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 Greece. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Greece. Similarly, a dot/product with the flag of Greece indicates it has a comparative advantage over Belgium.

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

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