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2023
Flag → Flag
Exports $300MRnk 76 / 220
2023
Flag → Flag
Top Product $77MVaccines, blood, antisera, toxins and cultures
2023
Flag → Flag
Exports $81.3MRnk 25 / 100
2023
Flag → Flag
Top Product $60.9MRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.71Rnk 97 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$251BCURRENT US$
Rnk 52 / 195
2013-2023
Flag
GDP GROWTH6.91%CURRENT US$
Rnk 164 / 195
2023
Flag
GDP PC $54,701CURRENT US$
Rnk 20 / 195
2013-2023
Flag
GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
Flag
GDP PC$5,565CURRENT US$
Rnk 118 / 196
2013-2023
Flag
GDP PC GROWTH-16.3%CURRENT US$
Rnk 174 / 195

About

Belgium-Iraq Trade: In 2023, Belgium exported $300M to Iraq. The main products that Belgium exported to Iraq were Vaccines, blood, antisera, toxins and cultures ($77M), Packaged Medicaments ($52.9M), and Animal Food ($28.3M). Over the past 5 years the exports of Belgium to Iraq have increased at an annualized rate of 13.9%, from $157M in 2018 to $300M in 2023.

In 2023, Belgium did not export any services to Iraq.

Iraq-Belgium Trade: In 2023, Iraq exported $81.3M to Belgium. The main products that Iraq exported to Belgium were Refined Petroleum ($60.9M), Petroleum Coke ($19.1M), and Non-Iron and Steel Slag, Ash and Residues ($1.06M). Over the past 5 years the exports of Iraq to Belgium have increased at an annualized rate of 56%,  from $8.8M in 2018 to $81.3M in 2023.

In 2023, Iraq 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, Iraq ranked 97 in the Economic Complexity Index (ECI -0.71), and 40 in total exports ($107B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €13.1M and imported €812k from Iraq, resulting in a positive trade balance of €12.3M. Between October 2023 and October 2024 the exports of Belgium have decreased by €-14.9M (-53.2%) from €28M to €13.1M, while imports decreased by €-1.88M (-69.8%) from €2.69M to €812k.

Trade In October 2024, the top exports of Belgium to Iraq were Pharmaceutical products (€3.75M), Food residues & wastes; animal fodder (€2.56M), Machinery, mechanical appliances, & parts (€1.88M), Optical, photo, & film equipment; medical... (€1.07M), and Edible products of animal origin, n.e.s. (€819k). In October 2024 the top imports of Belgium from Iraq were Tools & cutlery (€4.7k), Non-knitted clothing accesories (€100), Machinery, mechanical appliances, & parts (€96), Footwear (€69), and Knitted clothing accesories (€18).

Growth In October 2024, the decrease in Belgium's year-by-year exports to Iraq was explained primarily by an decrease in product exports in Pharmaceutical products (€-5.12M or -57.7%), Electrical machinery and electronics (€-886k or -93.6%), and Edible products of animal origin, n.e.s. (€-768k or -48.4%). In October 2024, the decrease in Belgium's year-by-year imports  from Iraq was explained primarily by an decrease in product imports  in Machinery, mechanical appliances, & parts (€-788 or -89.1%), Paper articles (€-545 or -97.8%), and Perfumery & cosmetics (€-23 or -92%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-14.9M(-53.2%)
IMPORT GROWTH (October 2023 - October 2024)€-1.88M(-69.8%)

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 Iraq and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Iraq and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $300M to Iraq. The main products exported from Belgium to Iraq were Vaccines, blood, antisera, toxins and cultures ($77M), Packaged Medicaments ($52.9M), and Animal Food ($28.3M). During the last 5 years the exports of Belgium to Iraq have increased at an annualized rate of 13.9%, from $157M in 2018 to $300M in 2023.

In 2018, Iraq exported $81.3M to Belgium. The main products exported from Iraq to Belgium were Refined Petroleum ($60.9M), Petroleum Coke ($19.1M), and Non-Iron and Steel Slag, Ash and Residues ($1.06M). During the last 5 years the exports of Iraq to Belgium have increased at an annualized rate of 56%, from $8.8M in 2023 to $81.3M in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Iraq
Top DestinationChina$35.5B

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

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

In 2023, countries that imported more from Iraq than Belgium included China ($35.5B), India ($29.8B), and Greece ($5.68B).

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

Comparative Advantage Belgium - Iraq

Flow
Scale

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

During 2023, Belgium had a large net trade with Iraq in the exports of Chemical Products ($158M), Machines ($40.7M), and Foodstuffs ($37.3M).

During 2018, Iraq had a large net trade with Belgium in the exports of Mineral Products ($81.1M), Machines ($135k), and Instruments ($12.8k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Iraq+$28.2MPackaged Medicaments
Top Product Potential Iraq Belgium+$95.5MRefined 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 Iraq. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Iraq. Similarly, a dot/product with the flag of Iraq indicates it has a comparative advantage over Belgium.

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

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