Finland (FIN) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Finland-Belgium Trade: In 2023, Finland exported $2.02B to Belgium. The main products that Finland exported to Belgium were Refined Petroleum ($507M), Kaolin Coated Paper ($127M), and Inedible Fats and Oils ($92M). Over the past 5 years the exports of Finland to Belgium have increased at an annualized rate of 0.54%, from $1.97B in 2018 to $2.02B in 2023.

In 2020, Finland exported services to Belgium worth $299M, with Computer and information services ($103M), Other business services ($95.9M), and Transportation ($67.4M) being the largest in terms of value.

Belgium-Finland Trade: In 2023, Belgium exported $1.98B to Finland. The main products that Belgium exported to Finland were Cars ($202M), Refined Copper ($173M), and Refined Petroleum ($145M). Over the past 5 years the exports of Belgium to Finland have increased at an annualized rate of 5.38%, from $1.44B in 2018 to $1.98B in 2023.

In 2020, Belgium exported services to Finland worth $691M, with Other business services ($432M), Transportation ($130M), and Computer and information services ($68.5M) being the largest in terms of value.

Comparison: In 2023, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B). That same year, Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Finland exported $2.02B to Belgium. The main products exported from Finland to Belgium were Refined Petroleum ($507M), Kaolin Coated Paper ($127M), and Inedible Fats and Oils ($92M). During the last 5 years the exports of Finland to Belgium have increased at an annualized rate of 0.54%, from $1.97B in 2018 to $2.02B in 2023.

In 2018, Belgium exported $1.98B to Finland. The main products exported from Belgium to Finland were Cars ($202M), Refined Copper ($173M), and Refined Petroleum ($145M). During the last 5 years the exports of Belgium to Finland have increased at an annualized rate of 5.38%, from $1.44B in 2023 to $1.98B in 2018.

Exports from Finland () to Belgium () (2023)

Exports from Belgium () to Finland () (2023)

Latest Data

Trade between Finland () and Belgium ()

Finland Exports

Date

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationUnited States$9.68B

Belgium
Top DestinationFrance$85.6B

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

In 2023, countries that imported more from Finland than Belgium included Estonia ($2.4B), Latvia ($1.1B), and Lithuania ($1.09B).

In 2023, countries that imported more from Belgium than Finland included France ($85.6B), Netherlands ($67.3B), and Germany ($60.8B).

Difference in imports from Belgium () and Finland () (2023)

Comparative Advantage Finland - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Finland had a large net trade with Belgium in the exports of Mineral Products ($623M), Paper Goods ($291M), and Chemical Products ($283M).

During 2018, Belgium had a large net trade with Finland in the exports of Chemical Products ($321M), Machines ($284M), and Metals ($280M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland Belgium+$23.6MPackaged Medicaments

Top Product Potential Belgium Finland+$56MRefined Petroleum

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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Bilateral Service Trade

Bel Year

Fin Year

In 2020, Finland exported services to Belgium worth $299M, with Computer and information services ($103M), Other business services ($95.9M), and Transportation ($67.4M) being the largest in terms of value.

In 2020, Belgium exported services to Finland worth $691M, with Other business services ($432M), Transportation ($130M), and Computer and information services ($68.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Finland () to Belgium () (2020)

Services Exports from Belgium () to Finland () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Finland () to Belgium () (2023)

Exports from Belgium () to Finland () (2023)

Latest Data

Trade between Finland () and Belgium ()

Finland Exports

Belgium Exports

Market Competitiveness

Difference in imports from Belgium () and Finland () (2023)

Comparative Advantage Finland - Belgium

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Finland () to Belgium () (2020)

Services Exports from Belgium () to Finland () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Finland () and Belgium () (2023)

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