Belgium (BEL) and British Virgin Islands (VGB) Trade | The Observatory of Economic Complexity

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Belgium-British Virgin Islands Trade: In 2022, Belgium exported $594k to British Virgin Islands. The main products that Belgium exported to British Virgin Islands were Acrylic Polymers ($307k), Other Frozen Vegetables ($86.4k), and Machinery Having Individual Functions ($78.7k). Over the past 5 years the exports of Belgium to British Virgin Islands have increased at an annualized rate of 14.1%, from $307k in 2017 to $594k in 2022.

In 2022, Belgium did not export any services to British Virgin Islands.

British Virgin Islands-Belgium Trade: In 2022, British Virgin Islands exported $158k to Belgium. The main products that British Virgin Islands exported to Belgium were Machinery Having Individual Functions ($74.4k), Other Heating Machinery ($67.7k), and Iron Stovetops ($10.1k). Over the past 5 years the exports of British Virgin Islands to Belgium have increased at an annualized rate of 53.3%, from $12.2k in 2017 to $158k in 2022.

In 2022, British Virgin Islands 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, British Virgin Islands ranked 185 in total exports ($206M), and does not have data regarding Economic Complexity Index.

Latest Trends

June, 2024

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Overview In June 2024, Belgium exported €5.19k and imported €15.9k from British Virgin Islands, resulting in a negative trade balance of €10.7k. Between June 2023 and June 2024 the exports of Belgium have increased by €2.88k (125%) from €2.31k to €5.19k, while imports increased by €6.73k (73.4%) from €9.17k to €15.9k.

Trade In June 2024, the top exports of Belgium to British Virgin Islands were Machinery, mechanical appliances, & parts (€8.09k) and Rubber & articles thereof (€178). In June 2024 the top imports of Belgium from British Virgin Islands were .

Growth In June 2024, the increase in Belgium's year-by-year exports to British Virgin Islands was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts (€970 or 13.6%) and Rubber & articles thereof (€32 or 21.9%). In July 2024, the increase in Belgium's year-by-year imports from British Virgin Islands was explained primarily by an increase in product imports in .

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Belgium exported $594k to British Virgin Islands. The main products exported from Belgium to British Virgin Islands were Acrylic Polymers ($307k), Other Frozen Vegetables ($86.4k), and Machinery Having Individual Functions ($78.7k). During the last 5 years the exports of Belgium to British Virgin Islands have increased at an annualized rate of 14.1%, from $307k in 2017 to $594k in 2022.

In 2017, British Virgin Islands exported $158k to Belgium. The main products exported from British Virgin Islands to Belgium were Machinery Having Individual Functions ($74.4k), Other Heating Machinery ($67.7k), and Iron Stovetops ($10.1k). During the last 5 years the exports of British Virgin Islands to Belgium have increased at an annualized rate of 53.3%, from $12.2k in 2022 to $158k in 2017.

Exports from Belgium () to British Virgin Islands () (2022)

Exports from British Virgin Islands () to Belgium () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Belgium
Top DestinationGermany$91.9B

British Virgin Islands
Top DestinationMalta$85.8M

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

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

In 2022, countries that imported more from British Virgin Islands than Belgium included Montserrat ($24.9k).

Difference in imports from British Virgin Islands () and Belgium () (2022)

Comparative Advantage Belgium - British Virgin Islands

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Belgium and British Virgin Islands by product, considering products traded by both, Belgium and British Virgin Islands.

During 2022, Belgium had a large net trade with British Virgin Islands in the exports of Plastics and Rubbers ($312k), Machines ($115k), and Foodstuffs ($103k).

During 2017, British Virgin Islands had a large net trade with Belgium in the exports of Machines ($142k), Metals ($10.1k), and Animal Hides ($3.21k).

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Belgium and British Virgin Islands. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over British Virgin Islands. Similarly, a dot/product with the flag of British Virgin Islands indicates it has a comparative advantage over Belgium.

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from Belgium () to British Virgin Islands () (2022)

Exports from British Virgin Islands () to Belgium () (2022)

Market Competitiveness

Difference in imports from British Virgin Islands () and Belgium () (2022)

Comparative Advantage Belgium - British Virgin Islands

Economic Complexity

Competitive Landscape

Product Space of Belgium () and British Virgin Islands () (2022)

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from Belgium () to British Virgin Islands () (2022)

Exports from British Virgin Islands () to Belgium () (2022)

Market Competitiveness

Difference in imports from British Virgin Islands () and Belgium () (2022)

Comparative Advantage Belgium - British Virgin Islands

Economic Complexity

Competitive Landscape

Product Space of Belgium () and British Virgin Islands () (2022)

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