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2022
Flag → Flag
Exports $3.17BRnk 24 / 222
2022
Flag → Flag
Top Product $373MCars
2022
Flag → Flag
Exports $1.93BRnk 8 / 208
2022
Flag → Flag
Top Product $92.5MCars
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
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Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
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 GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
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GDP GROWTH16.5%CURRENT US$
Rnk 132 / 186
2022
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GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
Flag
GDP PC$24,275CURRENT US$
Rnk 46 / 186
2012-2022
Flag
GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186

About

Belgium-Portugal Trade: In 2022, Belgium exported $3.17B to Portugal. The main products that Belgium exported to Portugal were Cars ($373M), Vaccines, blood, antisera, toxins and cultures ($325M), and Refined Petroleum ($204M). Over the past 5 years the exports of Belgium to Portugal have increased at an annualized rate of 9.72%, from $1.99B in 2017 to $3.17B in 2022.

In 2020, Belgium exported services to Portugal worth $556M, with Travel ($188M), Other business services ($122M), and Transportation ($93.7M) being the largest in terms of value.

Portugal-Belgium Trade: In 2022, Portugal exported $1.93B to Belgium. The main products that Portugal exported to Belgium were Cars ($92.5M), Amino-resins ($90.1M), and Packaged Medicaments ($66.3M). Over the past 5 years the exports of Portugal to Belgium have increased at an annualized rate of 2.5%,  from $1.43B in 2017 to $1.93B in 2022.

In 2020, Portugal exported services to Belgium worth $764M, with Other business services ($234M), Travel ($230M), and Transportation ($142M) 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, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B).

Latest Trends

August, 2024

About

Overview In August 2024, Belgium exported €161M and imported €73.9M from Portugal, resulting in a positive trade balance of €86.8M. Between August 2023 and August 2024 the exports of Belgium have increased by €22.2M (16%) from €139M to €161M, while imports decreased by €-36.4M (-33%) from €110M to €73.9M.

Trade In August 2024, the top exports of Belgium to Portugal were Cars, tractors, trucks & parts thereof. (€33.8M), Pharmaceutical products (€27.3M), Machinery, mechanical appliances, & parts (€18.5M), Iron & steel (€13M), and Plastics & articles thereof (€12M). In August 2024 the top imports of Belgium from Portugal were Electrical machinery and electronics (€20.1M), Cars, tractors, trucks & parts thereof. (€9.9M), Organic chemicals (€5.61M), Pharmaceutical products (€4.96M), and Plastics & articles thereof (€4.74M).

Growth In August 2024, the increase in Belgium's year-by-year exports to Portugal was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. (€9.71M or 40.3%), Iron & steel (€8.87M or 217%), and Machinery, mechanical appliances, & parts (€8.68M or 88.5%). In August 2024, the decrease in Belgium's year-by-year imports  from Portugal was explained primarily by an decrease in product imports  in Miscellaneous metal products (€-2.09M or -94.4%), Wood, wood articles, & charcoal (€-1.33M or -72.3%), and Cars, tractors, trucks & parts thereof. (€-790k or -7.39%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)€22.2M(16%)
IMPORT GROWTH (August 2023 - August 2024)€-36.4M(-33%)

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 Portugal and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Portugal and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $3.17B to Portugal. The main products exported from Belgium to Portugal were Cars ($373M), Vaccines, blood, antisera, toxins and cultures ($325M), and Refined Petroleum ($204M). During the last 5 years the exports of Belgium to Portugal have increased at an annualized rate of 9.72%, from $1.99B in 2017 to $3.17B in 2022.

In 2017, Portugal exported $1.93B to Belgium. The main products exported from Portugal to Belgium were Cars ($92.5M), Amino-resins ($90.1M), and Packaged Medicaments ($66.3M). During the last 5 years the exports of Portugal to Belgium have increased at an annualized rate of 2.5%, from $1.43B in 2022 to $1.93B in 2017.

Exports from Belgium (Flag) to Portugal (Flag) (2022)

Exports from Portugal (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Portugal
Top DestinationSpain$20.5B

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

In 2022, countries that imported more from Belgium than Portugal included Germany ($91.9B), Netherlands ($65.7B), and France ($71.1B).

In 2022, countries that imported more from Portugal than Belgium included Spain ($20.5B), Angola ($1.59B), and Gibraltar ($561M).

Difference in imports from Portugal (Flag) and Belgium (Flag) (2022)

Comparative Advantage Belgium - Portugal

Flow
Scale

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

During 2022, Belgium had a large net trade with Portugal in the exports of Chemical Products ($790M), Transportation ($555M), and Machines ($352M).

During 2017, Portugal had a large net trade with Belgium in the exports of Machines ($319M), Chemical Products ($232M), and Plastics and Rubbers ($232M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Portugal+$69.6MRefined Petroleum
Top Product Potential Portugal Belgium+$74.7MCars

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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Bilateral Service Trade

In 2020, Belgium exported services to Portugal worth $556M, with Travel ($188M), Other business services ($122M), and Transportation ($93.7M) being the largest in terms of value.

In 2020, Portugal exported services to Belgium worth $764M, with Other business services ($234M), Travel ($230M), and Transportation ($142M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Portugal (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 Portugal. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Portugal. Similarly, a dot/product with the flag of Portugal indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Portugal (Flag) (2022)

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