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Pricing

2022
Flag → Flag
Exports $288MRnk 81 / 222
2022
Flag → Flag
Top Product $79.9MVaccines, blood, antisera, toxins and cultures
2022
Flag → Flag
Exports $111MRnk 24 / 101
2022
Flag → Flag
Top Product $108MRefined Petroleum
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.84Rnk 103 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$264BCURRENT US$
Rnk 48 / 186
2012-2022
Flag
GDP GROWTH21.2%CURRENT US$
Rnk 118 / 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$5,937CURRENT US$
Rnk 104 / 186
2012-2022
Flag
GDP PC GROWTH-7.77%CURRENT US$
Rnk 158 / 186

About

Belgium-Iraq Trade: In 2022, Belgium exported $288M to Iraq. The main products that Belgium exported to Iraq were Vaccines, blood, antisera, toxins and cultures ($79.9M), Packaged Medicaments ($42.4M), and Animal Food ($27.3M). Over the past 5 years the exports of Belgium to Iraq have increased at an annualized rate of 17.1%, from $131M in 2017 to $288M in 2022.

In 2022, Belgium did not export any services to Iraq.

Iraq-Belgium Trade: In 2022, Iraq exported $111M to Belgium. The main products that Iraq exported to Belgium were Refined Petroleum ($108M), Non-Iron and Steel Slag, Ash and Residues ($2.89M), and X-Ray Equipment ($79k). Over the past 5 years the exports of Iraq to Belgium have increased at an annualized rate of 41.2%,  from $19.9M in 2017 to $111M in 2022.

In 2022, Iraq 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, Iraq ranked 103 in the Economic Complexity Index (ECI -0.84), and 36 in total exports ($123B).

Latest Trends

July, 2024

About

Overview In July 2024, Belgium exported €17.3M and imported €2.04k from Iraq, resulting in a positive trade balance of €17.3M. Between July 2023 and July 2024 the exports of Belgium have decreased by €-249k (-1.42%) from €17.5M to €17.3M, while imports decreased by €-6.69M (-100%) from €6.69M to €2.04k.

Trade In July 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 July 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 July 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 July 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 (July 2023 - July 2024)€-249k(-1.42%)
IMPORT GROWTH (July 2023 - July 2024)€-6.69M(-100%)

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 2022, Belgium exported $288M to Iraq. The main products exported from Belgium to Iraq were Vaccines, blood, antisera, toxins and cultures ($79.9M), Packaged Medicaments ($42.4M), and Animal Food ($27.3M). During the last 5 years the exports of Belgium to Iraq have increased at an annualized rate of 17.1%, from $131M in 2017 to $288M in 2022.

In 2017, Iraq exported $111M to Belgium. The main products exported from Iraq to Belgium were Refined Petroleum ($108M), Non-Iron and Steel Slag, Ash and Residues ($2.89M), and X-Ray Equipment ($79k). During the last 5 years the exports of Iraq to Belgium have increased at an annualized rate of 41.2%, from $19.9M in 2022 to $111M in 2017.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Iraq
Top DestinationIndia$38.8B

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

In 2022, countries that imported more from Iraq than Belgium included India ($38.8B), China ($34B), and South Korea ($8.21B).

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

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 2022, Belgium had a large net trade with Iraq in the exports of Chemical Products ($140M), Machines ($59.8M), and Foodstuffs ($33.2M).

During 2017, Iraq had a large net trade with Belgium in the exports of Mineral Products ($111M), Machines ($83.5k), and Instruments ($81.5k).

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) (2022)

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