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2022
Flag → Flag
Exports $9.2BRnk 15 / 217
2022
Flag → Flag
Top Product $2.91BDiamonds
2022
Flag → Flag
Exports $7.63BRnk 13 / 222
2022
Flag → Flag
Top Product $4.96BDiamonds
2022
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag  
GDP$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
Flag
GDP GROWTH85.2%CURRENT US$
Rnk 24 / 186
2022
Flag
 GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC $2,389CURRENT US$
Rnk 140 / 186
2012-2022
Flag
GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC$49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186

About

India-Belgium Trade: In 2022, India exported $9.2B to Belgium. The main products that India exported to Belgium were Diamonds ($2.91B), Refined Petroleum ($1.35B), and Packaged Medicaments ($474M). Over the past 5 years the exports of India to Belgium have increased at an annualized rate of 9.6%, from $5.82B in 2017 to $9.2B in 2022.

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

Belgium-India Trade: In 2022, Belgium exported $7.63B to India. The main products that Belgium exported to India were Diamonds ($4.96B), Orthopedic Appliances ($107M), and Vaccines, blood, antisera, toxins and cultures ($101M). Over the past 5 years the exports of Belgium to India have decreased at an annualized rate of 1.19%,  from $8.2B in 2017 to $7.63B in 2022.

In 2020, Belgium exported services to India worth $312M, with Other business services ($109M), Computer and information services ($82.2M), and Transportation ($80M) being the largest in terms of value.

Comparison: In 2022,  India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Latest Trends

September, 2024

About

Overview In September 2024, India exported $559M and imported $627M from Belgium, resulting in a negative trade balance of $68.5M. Between September 2023 and September 2024 the exports of India have decreased by $-100M (-15.2%) from $659M to $559M, while imports increased by $90.3M (16.8%) from $537M to $627M.

Trade In September 2024, the top exports of India to Belgium were Pearl, Precs, Semiprecs Stones ($254M), Iron And Steel ($94.4M), Residul Chemicl And Alled Prod ($63.1M), Drug Formulations, Biologicals ($58M), and Castor Oil ($47.6M). In September 2024 the top imports of India from Belgium were Pearl, Precs, Semiprecs Stones ($173M), Indl. Machnry For Dairy Etc ($48.2M), Electric Machinery And Equipme ($36.5M), Plastic Raw Materials ($34.4M), and Iron And Steel ($30.6M).

Growth In September 2024, the decrease in India's year-by-year exports to Belgium was explained primarily by an decrease in product exports in Petroleum Products ($-77.7M or -99.3%), Consumer Electronics ($-28M or -96.1%), and Organic Chemicals ($-24.6M or -52.1%). In September 2024, the increase in India's year-by-year imports  from Belgium was explained primarily by an increase in product imports  in Electric Machinery And Equipme ($28.5M or 356%), Indl. Machnry For Dairy Etc ($18.4M or 61.6%), and Bulk Drugs, Drug Intermediates ($9.52M or 366%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (September 2023 - September 2024)$-100M(-15.2%)
IMPORT GROWTH (September 2023 - September 2024)$90.3M(16.8%)

This section shows exports and imports data at subnational level for India. Click any date in the line plot or any product to explore the exports or imports behavior of India over time.

To check Belgium and India trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Belgium and India Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, India exported $9.2B to Belgium. The main products exported from India to Belgium were Diamonds ($2.91B), Refined Petroleum ($1.35B), and Packaged Medicaments ($474M). During the last 5 years the exports of India to Belgium have increased at an annualized rate of 9.6%, from $5.82B in 2017 to $9.2B in 2022.

In 2017, Belgium exported $7.63B to India. The main products exported from Belgium to India were Diamonds ($4.96B), Orthopedic Appliances ($107M), and Vaccines, blood, antisera, toxins and cultures ($101M). During the last 5 years the exports of Belgium to India have decreased at an annualized rate of 1.19%, from $8.2B in 2022 to $7.63B in 2017.

Exports from India (Flag) to Belgium (Flag) (2022)

Exports from Belgium (Flag) to India (Flag) (2022)

Market Competitiveness

Color
India
Top DestinationUnited States$82.9B
Belgium
Top DestinationGermany$91.9B

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

In 2022, countries that imported more from India than Belgium included United States ($82.9B), United Arab Emirates ($31.6B), and Bangladesh ($13.8B).

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

Difference in imports from Belgium (Flag) and India (Flag) (2022)

Comparative Advantage India - Belgium

Flow
Scale

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

During 2022, India had a large net trade with Belgium in the exports of Precious Metals ($3.03B), Chemical Products ($1.63B), and Mineral Products ($1.38B).

During 2017, Belgium had a large net trade with India in the exports of Precious Metals ($5.03B), Chemical Products ($696M), and Machines ($638M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Belgium+$827MRefined Petroleum
Top Product Potential Belgium India+$224MRefined 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

In 2020, Belgium exported services to India worth $312M, with Other business services ($109M), Computer and information services ($82.2M), and Transportation ($80M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Belgium (Flag) to India (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of India (Flag) and Belgium (Flag) (2022)

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