NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $2.08BRnk 32 / 220
2023
Flag → Flag
Top Product $801MPackaged Medicaments
2023
Flag → Flag
Exports $3.73BRnk 19 / 137
2023
Flag → Flag
Top Product $1.84BPetroleum Gas
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.3Rnk 50 / 132
2023
Flag  
GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
Flag
 GDP$2.02TCURRENT US$
Rnk 11 / 195
2013-2023
Flag
GDP GROWTH-11.8%CURRENT US$
Rnk 183 / 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$13,817CURRENT US$
Rnk 74 / 196
2013-2023
Flag
GDP PC GROWTH-13.3%CURRENT US$
Rnk 170 / 195

About

Belgium-Russia Trade: In 2023, Belgium exported $2.08B to Russia. The main products that Belgium exported to Russia were Packaged Medicaments ($801M), Vaccines, blood, antisera, toxins and cultures ($360M), and Raw Tobacco ($125M). Over the past 5 years the exports of Belgium to Russia have decreased at an annualized rate of 4.7%, from $2.65B in 2018 to $2.08B in 2023.

In 2020, Belgium exported services to Russia worth $321M, with Other business services ($185M), Transportation ($51.4M), and Royalties and license fees ($24M) being the largest in terms of value.

Russia-Belgium Trade: In 2023, Russia exported $3.73B to Belgium. The main products that Russia exported to Belgium were Petroleum Gas ($1.84B), Semi-Finished Iron ($657M), and Refined Petroleum ($351M). Over the past 5 years the exports of Russia to Belgium have decreased at an annualized rate of 16.3%,  from $9.07B in 2018 to $3.73B in 2023.

In 2020, Russia exported services to Belgium worth $532M, with Other business services ($232M), Transportation ($227M), and Computer and information services ($24.5M) 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, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Latest Trends

November, 2024

About

Overview In November 2024, Belgium exported €216M and imported €100M from Russia, resulting in a positive trade balance of €116M. Between November 2023 and November 2024 the exports of Belgium have increased by €59.4M (37.8%) from €157M to €216M, while imports decreased by €-38.9M (-28%) from €139M to €100M.

Trade In November 2024, the top exports of Belgium to Russia were Pharmaceutical products (€112M), Optical, photo, & film equipment; medical... (€23.3M), Tobacco & substitutes (€18.7M), Cocoa & cocoa preparations (€7.94M), and Plastics & articles thereof (€7.45M). In November 2024 the top imports of Belgium from Russia were Mineral fuels, mineral oils and products... (€664M), Precious stones, metals, & pearls (€135M), Iron & steel (€69.2M), Oils seeds, oleaginous fruits, grains, straw... (€17.5M), and Salt, sulphur, cement, lime, stone, &... (€8.93M).

Growth In November 2024, the increase in Belgium's year-by-year exports to Russia was explained primarily by an increase in product exports in Tobacco & substitutes (€12.7M or 216%), Optical, photo, & film equipment; medical... (€8.33M or 55.8%), and Cocoa & cocoa preparations (€3.09M or 63.6%). In November 2024, the decrease in Belgium's year-by-year imports  from Russia was explained primarily by an decrease in product imports  in Iron & steel (€-71.1M or -50.7%), Inorganic chemicals (€-31.6M or -98.4%), and Organic chemicals (€-12.4M or -97.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€59.4M(37.8%)
IMPORT GROWTH (November 2023 - November 2024)€-38.9M(-28%)

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 Russia and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Russia and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $2.08B to Russia. The main products exported from Belgium to Russia were Packaged Medicaments ($801M), Vaccines, blood, antisera, toxins and cultures ($360M), and Raw Tobacco ($125M). During the last 5 years the exports of Belgium to Russia have decreased at an annualized rate of 4.7%, from $2.65B in 2018 to $2.08B in 2023.

In 2018, Russia exported $3.73B to Belgium. The main products exported from Russia to Belgium were Petroleum Gas ($1.84B), Semi-Finished Iron ($657M), and Refined Petroleum ($351M). During the last 5 years the exports of Russia to Belgium have decreased at an annualized rate of 16.3%, from $9.07B in 2023 to $3.73B in 2018.

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

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

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Russia
Top DestinationChina$129B

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

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

In 2023, countries that imported more from Russia than Belgium included China ($129B), India ($66.1B), and Turkey ($31B).

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

Comparative Advantage Belgium - Russia

Flow
Scale

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

During 2023, Belgium had a large net trade with Russia in the exports of Chemical Products ($1.31B), Foodstuffs ($272M), and Instruments ($184M).

During 2018, Russia had a large net trade with Belgium in the exports of Mineral Products ($2.26B), Metals ($862M), and Precious Metals ($312M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Russia+$191MVaccines, blood, antisera, toxins and cultures
Top Product Potential Russia Belgium+$772MPetroleum Gas

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

In 2020, Belgium exported services to Russia worth $321M, with Other business services ($185M), Transportation ($51.4M), and Royalties and license fees ($24M) being the largest in terms of value.

In 2020, Russia exported services to Belgium worth $532M, with Other business services ($232M), Transportation ($227M), and Computer and information services ($24.5M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms