Belgium / South Korea

Belgium-South Korea Trade: In 2022, Belgium exported $3.04B to South Korea. The main products that Belgium exported to South Korea were Vaccines, blood, antisera, toxins and cultures ($1.16B), Platinum ($153M), and Cars ($140M). Over the past 5 years the exports of Belgium to South Korea have increased at an annualized rate of 18.6%, from $1.3B in 2017 to $3.04B in 2022.

In 2020, Belgium exported services to South Korea worth $381M, with Royalties and license fees ($155M), Other business services ($122M), and Transportation ($66.2M) being the largest in terms of value.

South Korea-Belgium Trade: In 2022, South Korea exported $4.69B to Belgium. The main products that South Korea exported to Belgium were Large Construction Vehicles ($719M), Cars ($683M), and Refined Petroleum ($291M). Over the past 5 years the exports of South Korea to Belgium have increased at an annualized rate of 11.3%,  from $2.75B in 2017 to $4.69B in 2022.

In 2005, South Korea exported services to Belgium worth $206M, with Transportation ($149M), Other business services ($23.1M), and Insurance services ($20.1M) being the largest in terms of value.

Comparison: In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).