NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $27.7BRnk 4 / 220
2023
Flag → Flag
Top Product $3.79BPackaged Medicaments
2023
Flag → Flag
Exports $17.8BRnk 9 / 219
2023
Flag → Flag
Top Product $5.9BPackaged Medicaments
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 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$39,003CURRENT US$
Rnk 32 / 196
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195

About

Belgium-Italy Trade: In 2023, Belgium exported $27.7B to Italy. The main products that Belgium exported to Italy were Packaged Medicaments ($3.79B), Vaccines, blood, antisera, toxins and cultures ($2.13B), and Cars ($1.36B). Over the past 5 years the exports of Belgium to Italy have increased at an annualized rate of 5.07%, from $21.6B in 2018 to $27.7B in 2023.

In 2020, Belgium exported services to Italy worth $2.83B, with Other business services ($1.04B), Transportation ($716M), and Computer and information services ($545M) being the largest in terms of value.

Italy-Belgium Trade: In 2023, Italy exported $17.8B to Belgium. The main products that Italy exported to Belgium were Packaged Medicaments ($5.9B), Cars ($757M), and Vaccines, blood, antisera, toxins and cultures ($655M). Over the past 5 years the exports of Italy to Belgium have increased at an annualized rate of 4.69%,  from $14.2B in 2018 to $17.8B in 2023.

In 2020, Italy exported services to Belgium worth $2.19B, with Other business services ($1.21B), Travel ($640M), and Computer and information services ($140M) being the largest in terms of value.

Comparison: In 2023,  Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €1.54B and imported €1.47B from Italy, resulting in a positive trade balance of €73.9M. Between October 2023 and October 2024 the exports of Belgium have increased by €116M (8.17%) from €1.42B to €1.54B, while imports increased by €121M (8.99%) from €1.35B to €1.47B.

Trade In October 2024, the top exports of Belgium to Italy were Pharmaceutical products (€264M), Plastics & articles thereof (€127M), Organic chemicals (€122M), Machinery, mechanical appliances, & parts (€110M), and Cars, tractors, trucks & parts thereof. (€108M). In October 2024 the top imports of Belgium from Italy were Pharmaceutical products (€608M), Machinery, mechanical appliances, & parts (€126M), Cars, tractors, trucks & parts thereof. (€101M), Plastics & articles thereof (€43.2M), and Electrical machinery and electronics (€38.7M).

Growth In October 2024, the increase in Belgium's year-by-year exports to Italy was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. (€50.8M or 89.5%), Precious stones, metals, & pearls (€37.4M or 183%), and Electrical machinery and electronics (€24.4M or 53.7%). In October 2024, the increase in Belgium's year-by-year imports  from Italy was explained primarily by an increase in product imports  in Pharmaceutical products (€49.2M or 8.81%), Cars, tractors, trucks & parts thereof. (€24.7M or 32.5%), and Chemical products n.e.s. (€15.9M or 108%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€116M(8.17%)
IMPORT GROWTH (October 2023 - October 2024)€121M(8.99%)

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 Italy and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Italy and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $27.7B to Italy. The main products exported from Belgium to Italy were Packaged Medicaments ($3.79B), Vaccines, blood, antisera, toxins and cultures ($2.13B), and Cars ($1.36B). During the last 5 years the exports of Belgium to Italy have increased at an annualized rate of 5.07%, from $21.6B in 2018 to $27.7B in 2023.

In 2018, Italy exported $17.8B to Belgium. The main products exported from Italy to Belgium were Packaged Medicaments ($5.9B), Cars ($757M), and Vaccines, blood, antisera, toxins and cultures ($655M). During the last 5 years the exports of Italy to Belgium have increased at an annualized rate of 4.69%, from $14.2B in 2023 to $17.8B in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Belgium than Italy included Netherlands ($67.3B), France ($85.6B), and Luxembourg ($6.65B).

In 2023, countries that imported more from Italy than Belgium included United States ($70.9B), Switzerland ($29.3B), and Spain ($30.1B).

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

Comparative Advantage Belgium - Italy

Flow
Scale

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

During 2023, Belgium had a large net trade with Italy in the exports of Chemical Products ($10.5B), Machines ($3.08B), and Plastics and Rubbers ($2.76B).

During 2018, Italy had a large net trade with Belgium in the exports of Chemical Products ($7.27B), Machines ($2.74B), and Transportation ($1.73B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Italy+$327MCars
Top Product Potential Italy Belgium+$238MCars

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

In 2020, Belgium exported services to Italy worth $2.83B, with Other business services ($1.04B), Transportation ($716M), and Computer and information services ($545M) being the largest in terms of value.

In 2020, Italy exported services to Belgium worth $2.19B, with Other business services ($1.21B), Travel ($640M), and Computer and information services ($140M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Belgium (Flag) to Italy (Flag) (2020)

Services Exports from Italy (Flag) to Belgium (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms