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Pricing

2022
Flag → Flag
Exports $980MRnk 47 / 222
2022
Flag → Flag
Top Product $244MVaccines, blood, antisera, toxins and cultures
2022
Flag → Flag
Exports $1.87BRnk 31 / 218
2022
Flag → Flag
Top Product $365MMotorcycles and cycles
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$495BCURRENT US$
Rnk 29 / 186
2012-2022
Flag
GDP GROWTH24.6%CURRENT US$
Rnk 111 / 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$6,909CURRENT US$
Rnk 93 / 186
2012-2022
Flag
GDP PC GROWTH20.2%CURRENT US$
Rnk 87 / 186

About

Belgium-Thailand Trade: In 2022, Belgium exported $980M to Thailand. The main products that Belgium exported to Thailand were Vaccines, blood, antisera, toxins and cultures ($244M), Diamonds ($92.8M), and Packaged Medicaments ($67.6M). Over the past 5 years the exports of Belgium to Thailand have decreased at an annualized rate of 3.71%, from $1.18B in 2017 to $980M in 2022.

In 2020, Belgium exported services to Thailand worth $66.2M, with Other business services ($40M), Transportation ($13.7M), and Travel ($6.85M) being the largest in terms of value.

Thailand-Belgium Trade: In 2022, Thailand exported $1.87B to Belgium. The main products that Thailand exported to Belgium were Motorcycles and cycles ($365M), Diamonds ($165M), and Integrated Circuits ($75M). Over the past 5 years the exports of Thailand to Belgium have increased at an annualized rate of 5.82%,  from $1.41B in 2017 to $1.87B in 2022.

In 2022, Thailand 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, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 27 in total exports ($312B).

Latest Trends

July, 2024

About

Overview In July 2024, Belgium exported €67M and imported €67.7M from Thailand, resulting in a negative trade balance of €728k. Between July 2023 and July 2024 the exports of Belgium have decreased by €-9.19M (-12.1%) from €76.2M to €67M, while imports increased by €16.8M (32.9%) from €51M to €67.7M.

Trade In July 2024, the top exports of Belgium to Thailand were Pharmaceutical products (€13.4M), Plastics & articles thereof (€5.54M), Electrical machinery and electronics (€3.69M), Precious stones, metals, & pearls (€3.56M), and Machinery, mechanical appliances, & parts (€3.27M). In July 2024 the top imports of Belgium from Thailand were Electrical machinery and electronics (€27.9M), Machinery, mechanical appliances, & parts (€14.7M), Cars, tractors, trucks & parts thereof. (€13M), Rubber & articles thereof (€8.38M), and Precious stones, metals, & pearls (€7.75M).

Growth In July 2024, the decrease in Belgium's year-by-year exports to Thailand was explained primarily by an decrease in product exports in Electrical machinery and electronics (€-6.85M or -65%), Machinery, mechanical appliances, & parts (€-3.15M or -49.1%), and Edible products of animal origin, n.e.s. (€-2.38M or -73.6%). In July 2024, the increase in Belgium's year-by-year imports  from Thailand was explained primarily by an increase in product imports  in Electrical machinery and electronics (€6.44M or 30%), Machinery, mechanical appliances, & parts (€3.23M or 28.2%), and Cars, tractors, trucks & parts thereof. (€2.8M or 27.6%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)€-9.19M(-12.1%)
IMPORT GROWTH (July 2023 - July 2024)€16.8M(32.9%)

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 Thailand and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Thailand and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $980M to Thailand. The main products exported from Belgium to Thailand were Vaccines, blood, antisera, toxins and cultures ($244M), Diamonds ($92.8M), and Packaged Medicaments ($67.6M). During the last 5 years the exports of Belgium to Thailand have decreased at an annualized rate of 3.71%, from $1.18B in 2017 to $980M in 2022.

In 2017, Thailand exported $1.87B to Belgium. The main products exported from Thailand to Belgium were Motorcycles and cycles ($365M), Diamonds ($165M), and Integrated Circuits ($75M). During the last 5 years the exports of Thailand to Belgium have increased at an annualized rate of 5.82%, from $1.41B in 2022 to $1.87B in 2017.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Thailand
Top DestinationUnited States$53.4B

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

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

In 2022, countries that imported more from Thailand than Belgium included China ($35.3B), United States ($53.4B), and Japan ($24.6B).

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

Comparative Advantage Belgium - Thailand

Flow
Scale

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

During 2022, Belgium had a large net trade with Thailand in the exports of Chemical Products ($444M), Machines ($115M), and Precious Metals ($103M).

During 2017, Thailand had a large net trade with Belgium in the exports of Transportation ($447M), Machines ($432M), and Plastics and Rubbers ($200M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Thailand+$45.4MVaccines, blood, antisera, toxins and cultures
Top Product Potential Thailand Belgium+$52.2MIntegrated 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 Thailand. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Thailand. Similarly, a dot/product with the flag of Thailand indicates it has a comparative advantage over Belgium.

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

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