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Pricing

2022
Flag → Flag
Exports $2.15BRnk 32 / 222
2022
Flag → Flag
Top Product $646MVaccines, blood, antisera, toxins and cultures
2022
Flag → Flag
Exports $1.46BRnk 33 / 138
2022
Flag → Flag
Top Product $346MCyclic Hydrocarbons
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.78Rnk 35 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$1.11TCURRENT US$
Rnk 17 / 186
2012-2022
Flag
GDP GROWTH49.4%CURRENT US$
Rnk 62 / 186
2022
Flag
GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
Flag
GDP PC$30,436CURRENT US$
Rnk 37 / 186
2012-2022
Flag
GDP PC GROWTH26.5%CURRENT US$
Rnk 71 / 186

About

Belgium-Saudi Arabia Trade: In 2022, Belgium exported $2.15B to Saudi Arabia. The main products that Belgium exported to Saudi Arabia were Vaccines, blood, antisera, toxins and cultures ($646M), Packaged Medicaments ($169M), and Other Frozen Vegetables ($119M). Over the past 5 years the exports of Belgium to Saudi Arabia have increased at an annualized rate of 12.2%, from $1.21B in 2017 to $2.15B in 2022.

In 2022, Belgium did not export any services to Saudi Arabia.

Saudi Arabia-Belgium Trade: In 2022, Saudi Arabia exported $1.46B to Belgium. The main products that Saudi Arabia exported to Belgium were Cyclic Hydrocarbons ($346M), Ethylene Polymers ($296M), and Refined Petroleum ($240M). Over the past 5 years the exports of Saudi Arabia to Belgium have decreased at an annualized rate of 6.37%,  from $2.03B in 2017 to $1.46B in 2022.

In 2022, Saudi Arabia did not export any services to Belgium.

Comparison: In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Saudi Arabia ranked 35 in the Economic Complexity Index (ECI 0.78), and 23 in total exports ($362B).

Latest Trends

August, 2024

About

Overview In August 2024, Belgium exported €141M and imported €72.9M from Saudi Arabia, resulting in a positive trade balance of €68.2M. Between August 2023 and August 2024 the exports of Belgium have decreased by €-24.1M (-14.6%) from €165M to €141M, while imports decreased by €-29M (-28.5%) from €102M to €72.9M.

Trade In August 2024, the top exports of Belgium to Saudi Arabia were Mineral fuels, mineral oils and products... (€50.1M), Pharmaceutical products (€43.9M), Preparations of vegetables, fruit, nuts or... (€18.1M), Plastics & articles thereof (€12.9M), and Machinery, mechanical appliances, & parts (€10.1M). In August 2024 the top imports of Belgium from Saudi Arabia were Organic chemicals (€43.5M), Plastics & articles thereof (€36.3M), Rubber & articles thereof (€5.94M), Copper articles (€885k), and Mineral fuels, mineral oils and products... (€676k).

Growth In August 2024, the decrease in Belgium's year-by-year exports to Saudi Arabia was explained primarily by an decrease in product exports in Organic chemicals (€-3.82M or -38.7%), Salt, sulphur, cement, lime, stone, &... (€-937k or -88.6%), and Miscellaneous edible preparations (€-874k or -46.5%). In August 2024, the decrease in Belgium's year-by-year imports  from Saudi Arabia was explained primarily by an decrease in product imports  in Ores, slag and ash (€-2.18M or -98.7%), Copper articles (€-1.28M or -59%), and Man-made filaments (€-518k or -46.5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)€-24.1M(-14.6%)
IMPORT GROWTH (August 2023 - August 2024)€-29M(-28.5%)

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 Saudi Arabia and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Saudi Arabia and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $2.15B to Saudi Arabia. The main products exported from Belgium to Saudi Arabia were Vaccines, blood, antisera, toxins and cultures ($646M), Packaged Medicaments ($169M), and Other Frozen Vegetables ($119M). During the last 5 years the exports of Belgium to Saudi Arabia have increased at an annualized rate of 12.2%, from $1.21B in 2017 to $2.15B in 2022.

In 2017, Saudi Arabia exported $1.46B to Belgium. The main products exported from Saudi Arabia to Belgium were Cyclic Hydrocarbons ($346M), Ethylene Polymers ($296M), and Refined Petroleum ($240M). During the last 5 years the exports of Saudi Arabia to Belgium have decreased at an annualized rate of 6.37%, from $2.03B in 2022 to $1.46B in 2017.

Exports from Belgium (Flag) to Saudi Arabia (Flag) (2022)

Exports from Saudi Arabia (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Saudi Arabia
Top DestinationChina$68B

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

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

In 2022, countries that imported more from Saudi Arabia than Belgium included China ($68B), India ($46.2B), and South Korea ($36B).

Difference in imports from Saudi Arabia (Flag) and Belgium (Flag) (2022)

Comparative Advantage Belgium - Saudi Arabia

Flow
Scale

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

During 2022, Belgium had a large net trade with Saudi Arabia in the exports of Chemical Products ($1.21B), Foodstuffs ($218M), and Machines ($195M).

During 2017, Saudi Arabia had a large net trade with Belgium in the exports of Chemical Products ($602M), Plastics and Rubbers ($553M), and Mineral Products ($255M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Saudi Arabia+$78.8MPackaged Medicaments
Top Product Potential Saudi Arabia Belgium+$226MRefined 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 Saudi Arabia. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Saudi Arabia. Similarly, a dot/product with the flag of Saudi Arabia indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Saudi Arabia (Flag) (2022)

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