2022
Flag  
GDP
$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH
16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP
$467BCURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP GROWTH
58.2%CURRENT US$
Rnk 42 / 186
2022
Flag
GDP PC 
$49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH
11%CURRENT US$
Rnk 112 / 186
2022
Flag
GDP PC
$82,808CURRENT US$
Rnk 7 / 186
2012-2022
Flag
GDP PC GROWTH
49.1%CURRENT US$
Rnk 37 / 186

About

Belgium-Singapore Trade: In 2022, Belgium exported $1.68B to Singapore. The main products that Belgium exported to Singapore were Diamonds ($290M), Non-Iron and Steel Slag, Ash and Residues ($276M), and Vaccines, blood, antisera, toxins and cultures ($180M). Over the past 5 years the exports of Belgium to Singapore have increased at an annualized rate of 7.33%, from $1.18B in 2017 to $1.68B in 2022.

In 2020, Belgium exported services to Singapore worth $1.54B, with Transportation ($668M), Other business services ($661M), and Royalties and license fees ($86.8M) being the largest in terms of value.

Singapore-Belgium Trade: In 2022, Singapore exported $4.49B to Belgium. The main products that Singapore exported to Belgium were Nitrogen Heterocyclic Compounds ($1.05B), Oxygen Amino Compounds ($785M), and Glass Working Machines ($651M). Over the past 5 years the exports of Singapore to Belgium have increased at an annualized rate of 2.59%,  from $3.96B in 2017 to $4.49B in 2022.

In 2022, Singapore 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, Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $1.68B to Singapore. The main products exported from Belgium to Singapore were Diamonds ($290M), Non-Iron and Steel Slag, Ash and Residues ($276M), and Vaccines, blood, antisera, toxins and cultures ($180M). During the last 5 years the exports of Belgium to Singapore have increased at an annualized rate of 7.33%, from $1.18B in 2017 to $1.68B in 2022.

In 2017, Singapore exported $4.49B to Belgium. The main products exported from Singapore to Belgium were Nitrogen Heterocyclic Compounds ($1.05B), Oxygen Amino Compounds ($785M), and Glass Working Machines ($651M). During the last 5 years the exports of Singapore to Belgium have increased at an annualized rate of 2.59%, from $3.96B in 2022 to $4.49B in 2017.

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

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

Market Competitiveness

Color
Belgium
Top Destination
Germany$91.9B
Singapore
Top Destination
Hong Kong$51.6B

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

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

In 2022, countries that imported more from Singapore than Belgium included Hong Kong ($51.6B), China ($51.2B), and Malaysia ($35.9B).

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

Comparative Advantage Belgium - Singapore

Flow
Scale

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

During 2022, Belgium had a large net trade with Singapore in the exports of Mineral Products ($420M), Chemical Products ($417M), and Precious Metals ($295M).

During 2017, Singapore had a large net trade with Belgium in the exports of Chemical Products ($2.84B), Machines ($952M), and Metals ($239M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Singapore+$206MRefined Petroleum
Top Product Potential Singapore Belgium+N/AN/A

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

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

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