Bangladesh (BGD) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Bangladesh-Belgium Trade: In 2022, Bangladesh exported $623M to Belgium. The main products that Bangladesh exported to Belgium were Knit T-shirts ($207M), Knit Sweaters ($136M), and Crustaceans ($45.6M). Over the past 5 years the exports of Bangladesh to Belgium have increased at an annualized rate of 9.06%, from $404M in 2017 to $623M in 2022.

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

Belgium-Bangladesh Trade: In 2022, Belgium exported $296M to Bangladesh. The main products that Belgium exported to Bangladesh were Vaccines, blood, antisera, toxins and cultures ($80.3M), Electric Generating Sets ($32.1M), and Looms ($30.4M). Over the past 5 years the exports of Belgium to Bangladesh have increased at an annualized rate of 5.94%, from $166M in 2017 to $296M in 2022.

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

Comparison: In 2022, Bangladesh ranked 101 in the Economic Complexity Index (ECI -0.82), and 52 in total exports ($64.2B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Bangladesh exported $623M to Belgium. The main products exported from Bangladesh to Belgium were Knit T-shirts ($207M), Knit Sweaters ($136M), and Crustaceans ($45.6M). During the last 5 years the exports of Bangladesh to Belgium have increased at an annualized rate of 9.06%, from $404M in 2017 to $623M in 2022.

In 2017, Belgium exported $296M to Bangladesh. The main products exported from Belgium to Bangladesh were Vaccines, blood, antisera, toxins and cultures ($80.3M), Electric Generating Sets ($32.1M), and Looms ($30.4M). During the last 5 years the exports of Belgium to Bangladesh have increased at an annualized rate of 5.94%, from $166M in 2022 to $296M in 2017.

Exports from Bangladesh () to Belgium () (2022)

Exports from Belgium () to Bangladesh () (2022)

Latest Data

Trade between Bangladesh () and Belgium ()

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bangladesh
Top DestinationUnited States$11.7B

Belgium
Top DestinationGermany$91.9B

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

In 2022, countries that imported more from Bangladesh than Belgium included Sri Lanka ($84.2M), Nepal ($55.1M), and Kuwait ($448M).

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

Difference in imports from Belgium () and Bangladesh () (2022)

Comparative Advantage Bangladesh - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Bangladesh had a large net trade with Belgium in the exports of Textiles ($541M), Animal Products ($45.6M), and Footwear and Headwear ($11M).

During 2017, Belgium had a large net trade with Bangladesh in the exports of Machines ($111M), Chemical Products ($102M), and Metals ($28.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Bangladesh Belgium+$58MKnit Sweaters

Top Product Potential Belgium Bangladesh+$48.1MVaccines, blood, antisera, toxins and cultures

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

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Bangladesh () to Belgium () (2022)

Exports from Belgium () to Bangladesh () (2022)

Latest Data

Trade between Bangladesh () and Belgium ()

Belgium Exports

Market Competitiveness

Difference in imports from Belgium () and Bangladesh () (2022)

Comparative Advantage Bangladesh - Belgium

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Bangladesh () and Belgium () (2022)

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