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Pricing

2022
Flag → Flag
Exports $30.6MRnk 141 / 222
2022
Flag → Flag
Top Product $12.9MMalt
2022
Flag → Flag
Exports $15.8MRnk 26 / 126
2022
Flag → Flag
Top Product $11MScrap Copper
2022
Flag
Economic Complexity (ECI) ECI 1.28Rnk 17 / 124
2022
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Economic Complexity (ECI) ECI -0.9Rnk 99 / 124
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 PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186

About

Belgium-Venezuela In 2022, Belgium exported $30.6M to Venezuela. The main products that Belgium exported to Venezuela are Malt ($12.9M), Other Frozen Vegetables ($4.47M), and Refined Petroleum ($1.17M). During the last 23 years the exports of Belgium to Venezuela have decreased at an annualized rate of 5.94%, from $125M in 1999 to $30.6M in 2022.

In 2019, Belgium exported services to Venezuela worth $2.24M, with Other business services ($2.24M) being the largest in terms of value.

Venezuela-Belgium In 2022, Venezuela exported $15.8M to Belgium. The main products that Venezuela exported to Belgium were Scrap Copper ($11M), Carbides ($2.28M), and Hard Liquor ($1.44M). During the last 23 years the exports of Venezuela to Belgium have decreased at an annualized rate of 8.41%, from $119M in 1999 to $15.8M in 2022.

In 2022, Venezuela did not export any services to Belgium.

Comparison In 2022,  Belgium ranked 17 in the Economic Complexity Index (ECI 1.28), and 13 in total exports ($475B). That same year, Venezuela ranked 99 in the Economic Complexity Index (ECI -0.9), and 132 in total exports ($4.3B).

Latest Trends

December, 2023

About

Overview In December 2023, Belgium exported €1.96M and imported €112k from Venezuela, resulting in a positive trade balance of €1.85M. Between December 2022 and December 2023 the exports of Belgium have decreased by €-3.26M (-62.4%) from €5.22M to €1.96M, while imports decreased by €-147k (-56.8%) from €260k to €112k.

Trade In December 2023, the top exports of Belgium to Venezuela were Preparations of vegetables, fruit, nuts or... (€423k), Unclassified (€321k), Optical, photo, & film equipment; medical... (€197k), Used clothes & textile articles (€175k), and Paper articles (€161k). In December 2023 the top imports of Belgium from Venezuela were Inorganic chemicals (€6.77M), Copper articles (€423k), Coffee, tea, mate & spices (€92.3k), and Toys, games, & sports (€188).

Growth In December 2023, the decrease in Belgium's year-by-year exports to Venezuela was explained primarily by an decrease in product exports in Plastics & articles thereof (€-75.4k or -93.6%), Furniture, bedding, lamps, & prefab buildings (€-9.97k or -75.9%), and Unclassified (€-8.49k or -2.57%). In December 2023, the decrease in Belgium's year-by-year imports  from Venezuela was explained primarily by an decrease in product imports  in .

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (December 2022 - December 2023)€-3.26M(-62.4%)
IMPORT GROWTH (December 2022 - December 2023)€-147k(-56.8%)

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 Venezuela and Belgium trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $30.6M to Venezuela. The main products exported from Belgium to Venezuela were Malt ($12.9M), Other Frozen Vegetables ($4.47M), and Refined Petroleum ($1.17M). During the last 23 years the exports of Belgium to Venezuela have decreased at an annualized rate of 5.94%, from $125M in 1999 to $30.6M in 2022.

In 2022, Venezuela exported $15.8M to Belgium. The main products exported from Venezuela to Belgium were Scrap Copper ($11M), Carbides ($2.28M), and Hard Liquor ($1.44M). During the last 23 years the exports of Venezuela to Belgium have decreased at an annualized rate of 8.41%, from $119M in 1999 to $15.8M in 2022.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Venezuela
Top DestinationChina$703M

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

In 2021, countries that imported more from Belgium than Venezuela were Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

In 2021, countries that imported more from Venezuela than Belgium were Montenegro ($75.9M) and Guyana ($28.9M).

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

Comparative Advantage Belgium - Venezuela

Flow
Scale

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

During 2022, Belgium had a large net trade with Venezuela in the exports of Vegetable Products ($13.2M), Foodstuffs ($5.98M), and Chemical Products ($2.98M).

During 2022, Venezuela had a large net trade with Belgium in the exports of Metals ($11M), Chemical Products ($2.28M), and Foodstuffs ($1.64M).

Service Trade

Bilateral Service Trade

In 2019, Belgium exported services to Venezuela worth $2.24M, with Other business services ($2.24M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Belgium (Flag) to Venezuela (Flag) (2019)

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Belgium has comparative advantage over Venezuela. Similarly, the more yellow a dot/product is, the more Venezuela has comparative advantage over Belgium.

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

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