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2023
Flag → Flag
Exports $441MRnk 63 / 220
2023
Flag → Flag
Top Product $59.1MIntegrated Circuits
2023
Flag → Flag
Exports $161MRnk 33 / 201
2023
Flag → Flag
Top Product $63.8MIntegrated Circuits
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 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$3,805CURRENT US$
Rnk 133 / 196
2013-2023
Flag
GDP PC GROWTH36.8%CURRENT US$
Rnk 65 / 195

About

Belgium-Philippines Trade: In 2023, Belgium exported $441M to Philippines. The main products that Belgium exported to Philippines were Integrated Circuits ($59.1M), Packaged Medicaments ($47.1M), and Concentrated Milk ($33.9M). Over the past 5 years the exports of Belgium to Philippines have decreased at an annualized rate of 5.76%, from $594M in 2018 to $441M in 2023.

In 2020, Belgium exported services to Philippines worth $17.1M, with Transportation ($9.14M), Other business services ($3.43M), and Computer and information services ($2.28M) being the largest in terms of value.

Philippines-Belgium Trade: In 2023, Philippines exported $161M to Belgium. The main products that Philippines exported to Belgium were Integrated Circuits ($63.8M), Carbonates ($11M), and Nickel Powder ($10.4M). Over the past 5 years the exports of Philippines to Belgium have decreased at an annualized rate of 9.12%,  from $260M in 2018 to $161M in 2023.

In 2023, Philippines did not export any services to Belgium.

Comparison: In 2023,  Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B). That same year, Philippines ranked 40 in the Economic Complexity Index (ECI 0.64), and 42 in total exports ($101B).

Latest Trends

October, 2024

About

Overview In October 2024, Belgium exported €26.2M and imported €12.4M from Philippines, resulting in a positive trade balance of €13.8M. Between October 2023 and October 2024 the exports of Belgium have decreased by €-5.32M (-16.9%) from €31.5M to €26.2M, while imports increased by €1.63M (15.1%) from €10.8M to €12.4M.

Trade In October 2024, the top exports of Belgium to Philippines were Pharmaceutical products (€8.27M), Electrical machinery and electronics (€6.73M), Edible products of animal origin, n.e.s. (€5.61M), Preparations of vegetables, fruit, nuts or... (€2.01M), and Machinery, mechanical appliances, & parts (€1.19M). In October 2024 the top imports of Belgium from Philippines were Electrical machinery and electronics (€6.14M), Inorganic chemicals (€2.12M), Edible fruits, nuts & fruit peels (€870k), Plastics & articles thereof (€734k), and Optical, photo, & film equipment; medical... (€700k).

Growth In October 2024, the decrease in Belgium's year-by-year exports to Philippines was explained primarily by an decrease in product exports in Inorganic chemicals (€-1.77M or -72.1%), Cars, tractors, trucks & parts thereof. (€-1.18M or -87.6%), and Electrical machinery and electronics (€-486k or -6.73%). In October 2024, the increase in Belgium's year-by-year imports  from Philippines was explained primarily by an increase in product imports  in Inorganic chemicals (€1.56M or 278%), Edible fruits, nuts & fruit peels (€426k or 96.2%), and Plastics & articles thereof (€324k or 78.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-5.32M(-16.9%)
IMPORT GROWTH (October 2023 - October 2024)€1.63M(15.1%)

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 Philippines and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Philippines and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $441M to Philippines. The main products exported from Belgium to Philippines were Integrated Circuits ($59.1M), Packaged Medicaments ($47.1M), and Concentrated Milk ($33.9M). During the last 5 years the exports of Belgium to Philippines have decreased at an annualized rate of 5.76%, from $594M in 2018 to $441M in 2023.

In 2018, Philippines exported $161M to Belgium. The main products exported from Philippines to Belgium were Integrated Circuits ($63.8M), Carbonates ($11M), and Nickel Powder ($10.4M). During the last 5 years the exports of Philippines to Belgium have decreased at an annualized rate of 9.12%, from $260M in 2023 to $161M in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Philippines
Top DestinationChina$19B

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

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

In 2023, countries that imported more from Philippines than Belgium included China ($19B), Hong Kong ($11.7B), and Japan ($11.4B).

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

Comparative Advantage Belgium - Philippines

Flow
Scale

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

During 2023, Belgium had a large net trade with Philippines in the exports of Machines ($124M), Chemical Products ($98.7M), and Animal Products ($87.4M).

During 2018, Philippines had a large net trade with Belgium in the exports of Machines ($89.6M), Chemical Products ($16.2M), and Instruments ($11.9M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Philippines+$30.7MVaccines, blood, antisera, toxins and cultures
Top Product Potential Philippines Belgium+$77.1MIntegrated Circuits

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 Philippines. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Philippines. Similarly, a dot/product with the flag of Philippines indicates it has a comparative advantage over Belgium.

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

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