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ExportsBelgium-South Korea Trade: In 2023, Belgium exported $2B to South Korea. The main products that Belgium exported to South Korea were Packaged Medicaments ($433M), Vaccines, blood, antisera, toxins and cultures ($198M), and Platinum ($137M). Over the past 5 years the exports of Belgium to South Korea have increased at an annualized rate of 5.63%, from $1.52B in 2018 to $2B in 2023.
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 2023, South Korea exported $3.19B to Belgium. The main products that South Korea exported to Belgium were Large Construction Vehicles ($581M), Cars ($473M), and Passenger and Cargo Ships ($280M). Over the past 5 years the exports of South Korea to Belgium have increased at an annualized rate of 9.2%, from $2.06B in 2018 to $3.19B in 2023.
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 2023, Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).
