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2022
Flag → Flag
Exports $7.63BRnk 13 / 222
2022
Flag → Flag
Top Product $4.96BDiamonds
2022
Flag → Flag
Exports $9.2BRnk 15 / 217
2022
Flag → Flag
Top Product $2.91BDiamonds
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
Flag
GDP GROWTH85.2%CURRENT US$
Rnk 24 / 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$2,389CURRENT US$
Rnk 140 / 186
2012-2022
Flag
GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 186

About

Belgium-India Trade: In 2022, Belgium exported $7.63B to India. The main products that Belgium exported to India were Diamonds ($4.96B), Orthopedic Appliances ($107M), and Vaccines, blood, antisera, toxins and cultures ($101M). Over the past 5 years the exports of Belgium to India have decreased at an annualized rate of 1.43%, from $8.2B in 2017 to $7.63B in 2022.

In 2020, Belgium exported services to India worth $312M, with Other business services ($109M), Computer and information services ($82.2M), and Transportation ($80M) being the largest in terms of value.

India-Belgium Trade: In 2022, India exported $9.2B to Belgium. The main products that India exported to Belgium were Diamonds ($2.91B), Refined Petroleum ($1.35B), and Packaged Medicaments ($474M). Over the past 5 years the exports of India to Belgium have increased at an annualized rate of 9.6%,  from $5.82B in 2017 to $9.2B in 2022.

In 2022, India 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, India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B).

Latest Trends

August, 2024

About

Overview In August 2024, Belgium exported €212M and imported €276M from India, resulting in a negative trade balance of €64M. Between August 2023 and August 2024 the exports of Belgium have decreased by €-80.8M (-27.6%) from €293M to €212M, while imports decreased by €-56.4M (-17%) from €332M to €276M.

Trade In August 2024, the top exports of Belgium to India were Precious stones, metals, & pearls (€215M), Machinery, mechanical appliances, & parts (€27.8M), Organic chemicals (€13.9M), Plastics & articles thereof (€12.6M), and Iron & steel (€12.4M). In August 2024 the top imports of Belgium from India were Precious stones, metals, & pearls (€290M), Organic chemicals (€38.5M), Pharmaceutical products (€27.8M), Iron & steel (€10.5M), and Machinery, mechanical appliances, & parts (€9.89M).

Growth In August 2024, the decrease in Belgium's year-by-year exports to India was explained primarily by an decrease in product exports in Precious stones, metals, & pearls (€-161M or -42.8%), Tools & cutlery (€-4.9M or -94.3%), and Rubber & articles thereof (€-2.77M or -55.6%). In August 2024, the decrease in Belgium's year-by-year imports  from India was explained primarily by an decrease in product imports  in Iron & steel (€-78.3M or -88.2%), Iron/Steel Articles (€-3.09M or -36.2%), and Ores, slag and ash (€-2.68M or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)€-80.8M(-27.6%)
IMPORT GROWTH (August 2023 - August 2024)€-56.4M(-17%)

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 India and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore India and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $7.63B to India. The main products exported from Belgium to India were Diamonds ($4.96B), Orthopedic Appliances ($107M), and Vaccines, blood, antisera, toxins and cultures ($101M). During the last 5 years the exports of Belgium to India have decreased at an annualized rate of 1.43%, from $8.2B in 2017 to $7.63B in 2022.

In 2017, India exported $9.2B to Belgium. The main products exported from India to Belgium were Diamonds ($2.91B), Refined Petroleum ($1.35B), and Packaged Medicaments ($474M). During the last 5 years the exports of India to Belgium have increased at an annualized rate of 9.6%, from $5.82B in 2022 to $9.2B in 2017.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
India
Top DestinationUnited States$82.9B

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

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

In 2022, countries that imported more from India than Belgium included United States ($82.9B), United Arab Emirates ($31.6B), and Bangladesh ($13.8B).

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

Comparative Advantage Belgium - India

Flow
Scale

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

During 2022, Belgium had a large net trade with India in the exports of Precious Metals ($5.03B), Chemical Products ($696M), and Machines ($638M).

During 2017, India had a large net trade with Belgium in the exports of Precious Metals ($3.03B), Chemical Products ($1.63B), and Mineral Products ($1.38B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium India+$224MRefined Petroleum
Top Product Potential India Belgium+$827MRefined 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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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Belgium and India. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over India. Similarly, a dot/product with the flag of India indicates it has a comparative advantage over Belgium.

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

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