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2023
Flag → Flag
Exports $2.43BRnk 28 / 220
2023
Flag → Flag
Top Product $1.19BDiamonds
2023
Flag → Flag
Exports $277MRnk 36 / 198
2023
Flag → Flag
Top Product $169MDiamonds
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.12Rnk 23 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$381BCURRENT US$
Rnk 39 / 195
2013-2023
Flag
GDP GROWTH38.1%CURRENT US$
Rnk 97 / 195
2023
Flag
GDP PC $54,701CURRENT US$
Rnk 20 / 195
2013-2023
Flag
GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
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GDP PC$50,532CURRENT US$
Rnk 25 / 196
2013-2023
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GDP PC GROWTH31.6%CURRENT US$
Rnk 75 / 195

About

Belgium-Hong Kong Trade: In 2023, Belgium exported $2.43B to Hong Kong. The main products that Belgium exported to Hong Kong were Diamonds ($1.19B), Packaged Medicaments ($245M), and Gas Turbines ($166M). Over the past 5 years the exports of Belgium to Hong Kong have decreased at an annualized rate of 5.13%, from $3.17B in 2018 to $2.43B in 2023.

In 2020, Belgium exported services to Hong Kong worth $513M, with Transportation ($182M), Other business services ($147M), and Communications services ($132M) being the largest in terms of value.

Hong Kong-Belgium Trade: In 2023, Hong Kong exported $277M to Belgium. The main products that Hong Kong exported to Belgium were Diamonds ($169M), Jewellery ($12.3M), and Gas Turbines ($10.1M). Over the past 5 years the exports of Hong Kong to Belgium have decreased at an annualized rate of 21.3%,  from $919M in 2018 to $277M in 2023.

In 2023, Hong Kong did not export any services to Belgium.

Comparison: In 2023,  Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B). That same year, Hong Kong ranked 23 in the Economic Complexity Index (ECI 1.12), and 38 in total exports ($117B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €61.6M and imported €7.99M from Hong Kong, resulting in a positive trade balance of €53.6M. Between October 2023 and October 2024 the exports of Belgium have decreased by €-7.04M (-10.3%) from €68.6M to €61.6M, while imports decreased by €-24.3M (-75.2%) from €32.3M to €7.99M.

Trade In October 2024, the top exports of Belgium to Hong Kong were Precious stones, metals, & pearls (€39.2M), Pharmaceutical products (€12.7M), Electrical machinery and electronics (€10.6M), Optical, photo, & film equipment; medical... (€2.7M), and Machinery, mechanical appliances, & parts (€2.3M). In October 2024 the top imports of Belgium from Hong Kong were Precious stones, metals, & pearls (€12M), Electrical machinery and electronics (€1.52M), Knitted clothing accesories (€486k), Plastics & articles thereof (€426k), and Optical, photo, & film equipment; medical... (€298k).

Growth In October 2024, the decrease in Belgium's year-by-year exports to Hong Kong was explained primarily by an decrease in product exports in Precious stones, metals, & pearls (€-14.3M or -26.8%), Plastics & articles thereof (€-1.5M or -73.4%), and Optical, photo, & film equipment; medical... (€-1.28M or -32.1%). In October 2024, the decrease in Belgium's year-by-year imports  from Hong Kong was explained primarily by an decrease in product imports  in Precious stones, metals, & pearls (€-6.97M or -36.8%), Plastics & articles thereof (€-3.52M or -89.2%), and Electrical machinery and electronics (€-802k or -34.5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-7.04M(-10.3%)
IMPORT GROWTH (October 2023 - October 2024)€-24.3M(-75.2%)

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 Hong Kong and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Hong Kong and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $2.43B to Hong Kong. The main products exported from Belgium to Hong Kong were Diamonds ($1.19B), Packaged Medicaments ($245M), and Gas Turbines ($166M). During the last 5 years the exports of Belgium to Hong Kong have decreased at an annualized rate of 5.13%, from $3.17B in 2018 to $2.43B in 2023.

In 2018, Hong Kong exported $277M to Belgium. The main products exported from Hong Kong to Belgium were Diamonds ($169M), Jewellery ($12.3M), and Gas Turbines ($10.1M). During the last 5 years the exports of Hong Kong to Belgium have decreased at an annualized rate of 21.3%, from $919M in 2023 to $277M in 2018.

Exports from Belgium (Flag) to Hong Kong (Flag) (2023)

Exports from Hong Kong (Flag) to Belgium (Flag) (2023)

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Hong Kong
Top DestinationChina$25.3B

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

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

In 2023, countries that imported more from Hong Kong than Belgium included China ($25.3B), Vietnam ($14.4B), and South Korea ($9.5B).

Difference in imports from Hong Kong (Flag) and Belgium (Flag) (2023)

Comparative Advantage Belgium - Hong Kong

Flow
Scale

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

During 2023, Belgium had a large net trade with Hong Kong in the exports of Precious Metals ($1.23B), Chemical Products ($391M), and Machines ($377M).

During 2018, Hong Kong had a large net trade with Belgium in the exports of Precious Metals ($185M), Machines ($40.3M), and Instruments ($7.12M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Hong Kong+$46.5MIntegrated Circuits
Top Product Potential Hong Kong Belgium+$34.8MDiamonds

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

Product Space of Belgium (Flag) and Hong Kong (Flag) (2023)

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