Guatemala (GTM) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Guatemala-Belgium Trade: In 2022, Guatemala exported $106M to Belgium. The main products that Guatemala exported to Belgium were Coffee ($83.3M), Bananas ($3.88M), and Raw Sugar ($2.95M). Over the past 5 years the exports of Guatemala to Belgium have increased at an annualized rate of 1.78%, from $97.5M in 2017 to $106M in 2022.

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

Belgium-Guatemala Trade: In 2022, Belgium exported $186M to Guatemala. The main products that Belgium exported to Guatemala were Vaccines, blood, antisera, toxins and cultures ($99.1M), Malt ($15M), and Organo-Sulfur Compounds ($10.8M). Over the past 5 years the exports of Belgium to Guatemala have increased at an annualized rate of 1.53%, from $172M in 2017 to $186M in 2022.

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

Comparison: In 2022, Guatemala ranked 76 in the Economic Complexity Index (ECI -0.2), and 84 in total exports ($16.4B). 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, Guatemala exported $106M to Belgium. The main products exported from Guatemala to Belgium were Coffee ($83.3M), Bananas ($3.88M), and Raw Sugar ($2.95M). During the last 5 years the exports of Guatemala to Belgium have increased at an annualized rate of 1.78%, from $97.5M in 2017 to $106M in 2022.

In 2017, Belgium exported $186M to Guatemala. The main products exported from Belgium to Guatemala were Vaccines, blood, antisera, toxins and cultures ($99.1M), Malt ($15M), and Organo-Sulfur Compounds ($10.8M). During the last 5 years the exports of Belgium to Guatemala have increased at an annualized rate of 1.53%, from $172M in 2022 to $186M in 2017.

Exports from Guatemala () to Belgium () (2022)

Exports from Belgium () to Guatemala () (2022)

Latest Data

Trade between Guatemala () and Belgium ()

Guatemala Exports

Date

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Guatemala
Top DestinationUnited States$5.23B

Belgium
Top DestinationGermany$91.9B

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

In 2022, countries that imported more from Guatemala than Belgium included El Salvador ($2.03B), Honduras ($1.58B), and Nicaragua ($1B).

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

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

Comparative Advantage Guatemala - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Guatemala had a large net trade with Belgium in the exports of Vegetable Products ($90.6M), Foodstuffs ($7.46M), and Animal and Vegetable Bi-Products ($2.6M).

During 2017, Belgium had a large net trade with Guatemala in the exports of Chemical Products ($133M), Vegetable Products ($15.9M), and Foodstuffs ($11.2M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Guatemala Belgium+$4.58MBananas

Top Product Potential Belgium Guatemala+$6.25MCars

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

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Historical Data

Bilateral Trade by Products

Exports from Guatemala () to Belgium () (2022)

Exports from Belgium () to Guatemala () (2022)

Latest Data

Trade between Guatemala () and Belgium ()

Guatemala Exports

Belgium Exports

Market Competitiveness

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

Comparative Advantage Guatemala - Belgium

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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