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2023
Flag → Flag
Exports $3.09BRnk 25 / 220
2023
Flag → Flag
Top Product $980MPassenger and Cargo Ships
2023
Flag → Flag
Exports $9.55BRnk 7 / 205
2023
Flag → Flag
Top Product $8.29BPetroleum Gas
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.47Rnk 44 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$485BCURRENT US$
Rnk 31 / 195
2013-2023
Flag
GDP GROWTH-7.74%CURRENT US$
Rnk 180 / 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$87,925CURRENT US$
Rnk 7 / 196
2013-2023
Flag
GDP PC GROWTH-15.1%CURRENT US$
Rnk 171 / 195

About

Belgium-Norway Trade: In 2023, Belgium exported $3.09B to Norway. The main products that Belgium exported to Norway were Passenger and Cargo Ships ($980M), Refined Petroleum ($498M), and Cars ($141M). Over the past 5 years the exports of Belgium to Norway have increased at an annualized rate of 16.9%, from $1.42B in 2018 to $3.09B in 2023.

In 2020, Belgium exported services to Norway worth $509M, with Other business services ($211M), Transportation ($172M), and Insurance services ($46.8M) being the largest in terms of value.

Norway-Belgium Trade: In 2023, Norway exported $9.55B to Belgium. The main products that Norway exported to Belgium were Petroleum Gas ($8.29B), Refined Petroleum ($505M), and Acyclic Hydrocarbons ($274M). Over the past 5 years the exports of Norway to Belgium have increased at an annualized rate of 9.43%,  from $6.09B in 2018 to $9.55B in 2023.

In 2009, Norway exported services to Belgium worth $1.53B, with Other business services ($753M), Transportation ($549M), and Computer and information services ($79.8M) 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, Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €158M and imported €558M from Norway, resulting in a negative trade balance of €400M. Between October 2023 and October 2024 the exports of Belgium have decreased by €-58.9M (-27.1%) from €217M to €158M, while imports increased by €120M (27.5%) from €438M to €558M.

Trade In October 2024, the top exports of Belgium to Norway were Cars, tractors, trucks & parts thereof. (€104M), Machinery, mechanical appliances, & parts (€22.5M), Animal or vegetable fats, oils, &... (€19.9M), Inorganic chemicals (€15.1M), and Organic chemicals (€10.8M). In October 2024 the top imports of Belgium from Norway were Mineral fuels, mineral oils and products... (€1.6B), Organic chemicals (€11.7M), Iron & steel (€7.39M), Pharmaceutical products (€5.46M), and Cars, tractors, trucks & parts thereof. (€3.16M).

Growth In October 2024, the decrease in Belgium's year-by-year exports to Norway was explained primarily by an decrease in product exports in Organic chemicals (€-5.87M or -35.2%), Products of the milling industry (€-1.79M or -80.7%), and Pharmaceutical products (€-773k or -11.4%). In October 2024, the increase in Belgium's year-by-year imports  from Norway was explained primarily by an increase in product imports  in Mineral fuels, mineral oils and products... (€156M or 10.8%), Iron & steel (€7.1M or 2.49k%), and Organic chemicals (€4.61M or 64.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-58.9M(-27.1%)
IMPORT GROWTH (October 2023 - October 2024)€120M(27.5%)

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 Norway and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Norway and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $3.09B to Norway. The main products exported from Belgium to Norway were Passenger and Cargo Ships ($980M), Refined Petroleum ($498M), and Cars ($141M). During the last 5 years the exports of Belgium to Norway have increased at an annualized rate of 16.9%, from $1.42B in 2018 to $3.09B in 2023.

In 2018, Norway exported $9.55B to Belgium. The main products exported from Norway to Belgium were Petroleum Gas ($8.29B), Refined Petroleum ($505M), and Acyclic Hydrocarbons ($274M). During the last 5 years the exports of Norway to Belgium have increased at an annualized rate of 9.43%, from $6.09B in 2023 to $9.55B in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Norway
Top DestinationGermany$33.8B

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

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

In 2023, countries that imported more from Norway than Belgium included United Kingdom ($32.6B), Denmark ($12.7B), and Sweden ($15.9B).

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

Comparative Advantage Belgium - Norway

Flow
Scale

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

During 2023, Belgium had a large net trade with Norway in the exports of Transportation ($1.31B), Mineral Products ($528M), and Chemical Products ($313M).

During 2018, Norway had a large net trade with Belgium in the exports of Mineral Products ($8.84B), Chemical Products ($368M), and Metals ($111M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Norway+$97.7MRefined Petroleum
Top Product Potential Norway Belgium+$205MRefined 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 Norway. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Norway. Similarly, a dot/product with the flag of Norway indicates it has a comparative advantage over Belgium.

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

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