Georgia (GEO) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Georgia-Belgium Trade: In 2023, Georgia exported $60.4M to Belgium. The main products that Georgia exported to Belgium were Cars ($19.6M), Molybdenum Ore ($16.8M), and Cyclic Hydrocarbons ($13.1M). Over the past 5 years the exports of Georgia to Belgium have increased at an annualized rate of 28.4%, from $17.3M in 2018 to $60.4M in 2023.

In 2023, Georgia did not export any services to Belgium.

Belgium-Georgia Trade: In 2023, Belgium exported $144M to Georgia. The main products that Belgium exported to Georgia were Cars ($28M), Medical Instruments ($14.2M), and Delivery Trucks ($6.81M). Over the past 5 years the exports of Belgium to Georgia have increased at an annualized rate of 11.4%, from $83.6M in 2018 to $144M in 2023.

In 2023, Belgium did not export any services to Georgia.

Comparison: In 2023, Georgia ranked 55 in the Economic Complexity Index (ECI 0.13), and 123 in total exports ($6.39B). 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, Georgia exported $60.4M to Belgium. The main products exported from Georgia to Belgium were Cars ($19.6M), Molybdenum Ore ($16.8M), and Cyclic Hydrocarbons ($13.1M). During the last 5 years the exports of Georgia to Belgium have increased at an annualized rate of 28.4%, from $17.3M in 2018 to $60.4M in 2023.

In 2018, Belgium exported $144M to Georgia. The main products exported from Belgium to Georgia were Cars ($28M), Medical Instruments ($14.2M), and Delivery Trucks ($6.81M). During the last 5 years the exports of Belgium to Georgia have increased at an annualized rate of 11.4%, from $83.6M in 2023 to $144M in 2018.

Exports from Georgia () to Belgium () (2023)

Exports from Belgium () to Georgia () (2023)

Latest Data

Trade between Georgia () and Belgium ()

Georgia Exports

Date

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Georgia
Top DestinationAzerbaijan$828M

Belgium
Top DestinationFrance$85.6B

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

In 2023, countries that imported more from Georgia than Belgium included Azerbaijan ($828M), Armenia ($712M), and Kyrgyzstan ($519M).

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

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

Comparative Advantage Georgia - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Georgia had a large net trade with Belgium in the exports of Mineral Products ($23.2M), Transportation ($19.6M), and Chemical Products ($13.3M).

During 2018, Belgium had a large net trade with Georgia in the exports of Transportation ($43.8M), Foodstuffs ($20.5M), and Chemical Products ($17.8M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Georgia Belgium+$7.34MRefined Petroleum

Top Product Potential Belgium Georgia+$15.4MCars

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 Georgia and Belgium. This means that a dot/product with the flag of Georgia indicates it has a comparative advantage over Belgium. Similarly, a dot/product with the flag of Belgium indicates it has a comparative advantage over Georgia.

About

Historical Data

Bilateral Trade by Products

Exports from Georgia () to Belgium () (2023)

Exports from Belgium () to Georgia () (2023)

Latest Data

Trade between Georgia () and Belgium ()

Georgia Exports

Belgium Exports

Market Competitiveness

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

Comparative Advantage Georgia - Belgium

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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