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2023
Flag → Flag
Exports $696MRnk 52 / 220
2023
Flag → Flag
Top Product $77.2MTanks and Armored vehicles
2023
Flag → Flag
Exports $758MRnk 37 / 213
2023
Flag → Flag
Top Product $95.7MSemi-Finished Iron
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
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Economic Complexity (ECI) ECI -0.085Rnk 65 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
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GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
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 GDP$1.37TCURRENT US$
Rnk 16 / 195
2013-2023
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GDP GROWTH50.3%CURRENT US$
Rnk 75 / 195
2023
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GDP PC $54,701CURRENT US$
Rnk 20 / 195
2013-2023
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GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
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GDP PC$4,876CURRENT US$
Rnk 123 / 196
2013-2023
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GDP PC GROWTH36.7%CURRENT US$
Rnk 66 / 195

About

Belgium-Indonesia Trade: In 2023, Belgium exported $696M to Indonesia. The main products that Belgium exported to Indonesia were Tanks and Armored vehicles ($77.2M), Other Organo-Inorganic Compounds ($64.9M), and Concentrated Milk ($52M). Over the past 5 years the exports of Belgium to Indonesia have increased at an annualized rate of 2.99%, from $601M in 2018 to $696M in 2023.

In 2020, Belgium exported services to Indonesia worth $61.7M, with Other business services ($29.7M), Communications services ($10.3M), and Transportation ($6.85M) being the largest in terms of value.

Indonesia-Belgium Trade: In 2023, Indonesia exported $758M to Belgium. The main products that Indonesia exported to Belgium were Semi-Finished Iron ($95.7M), Rubber ($80.4M), and Hot-Rolled Iron ($76.3M). Over the past 5 years the exports of Indonesia to Belgium have increased at an annualized rate of 1.58%,  from $701M in 2018 to $758M in 2023.

In 2023, Indonesia 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, Indonesia ranked 65 in the Economic Complexity Index (ECI -0.085), and 27 in total exports ($299B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €51.1M and imported €47.6M from Indonesia, resulting in a positive trade balance of €3.57M. Between October 2023 and October 2024 the exports of Belgium have decreased by €-2.19M (-4.1%) from €53.3M to €51.1M, while imports increased by €7.75M (19.5%) from €39.8M to €47.6M.

Trade In October 2024, the top exports of Belgium to Indonesia were Cars, tractors, trucks & parts thereof. (€24.1M), Pharmaceutical products (€9.42M), Machinery, mechanical appliances, & parts (€8.09M), Edible products of animal origin, n.e.s. (€7.85M), and Organic chemicals (€7.48M). In October 2024 the top imports of Belgium from Indonesia were Iron & steel (€4.81M), Furniture, bedding, lamps, & prefab buildings (€3.79M), Tobacco & substitutes (€3.18M), Wood, wood articles, & charcoal (€2.35M), and Non-knitted clothing accesories (€2.02M).

Growth In October 2024, the decrease in Belgium's year-by-year exports to Indonesia was explained primarily by an decrease in product exports in Edible products of animal origin, n.e.s. (€-2.33M or -22.9%), Plastics & articles thereof (€-1.32M or -44.1%), and Products of the milling industry (€-1.23M or -67.3%). In October 2024, the increase in Belgium's year-by-year imports  from Indonesia was explained primarily by an increase in product imports  in Aluminum articles (€1.37M or 4.54k%), Wood, wood articles, & charcoal (€971k or 70.3%), and Optical, photo, & film equipment; medical... (€742k or 379%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-2.19M(-4.1%)
IMPORT GROWTH (October 2023 - October 2024)€7.75M(19.5%)

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 Indonesia and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Indonesia and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $696M to Indonesia. The main products exported from Belgium to Indonesia were Tanks and Armored vehicles ($77.2M), Other Organo-Inorganic Compounds ($64.9M), and Concentrated Milk ($52M). During the last 5 years the exports of Belgium to Indonesia have increased at an annualized rate of 2.99%, from $601M in 2018 to $696M in 2023.

In 2018, Indonesia exported $758M to Belgium. The main products exported from Indonesia to Belgium were Semi-Finished Iron ($95.7M), Rubber ($80.4M), and Hot-Rolled Iron ($76.3M). During the last 5 years the exports of Indonesia to Belgium have increased at an annualized rate of 1.58%, from $701M in 2023 to $758M in 2018.

Exports from Belgium (Flag) to Indonesia (Flag) (2023)

Exports from Indonesia (Flag) to Belgium (Flag) (2023)

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Indonesia
Top DestinationChina$70.7B

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

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

In 2023, countries that imported more from Indonesia than Belgium included China ($70.7B), India ($24B), and Japan ($23.7B).

Difference in imports from Indonesia (Flag) and Belgium (Flag) (2023)

Comparative Advantage Belgium - Indonesia

Flow
Scale

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

During 2023, Belgium had a large net trade with Indonesia in the exports of Chemical Products ($210M), Transportation ($109M), and Machines ($99.2M).

During 2018, Indonesia had a large net trade with Belgium in the exports of Metals ($206M), Plastics and Rubbers ($91.4M), and Machines ($68.5M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Indonesia+$36.5MVaccines, blood, antisera, toxins and cultures
Top Product Potential Indonesia Belgium+$79.8MPetroleum Gas

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

Product Space of Belgium (Flag) and Indonesia (Flag) (2023)

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