Iraq (IRQ) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Iraq-Belgium Trade: In 2023, Iraq exported $81.3M to Belgium. The main products that Iraq exported to Belgium were Refined Petroleum ($60.9M), Petroleum Coke ($19.1M), and Non-Iron and Steel Slag, Ash and Residues ($1.06M). Over the past 5 years the exports of Iraq to Belgium have increased at an annualized rate of 56%, from $8.8M in 2018 to $81.3M in 2023.

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

Belgium-Iraq Trade: In 2023, Belgium exported $300M to Iraq. The main products that Belgium exported to Iraq were Vaccines, blood, antisera, toxins and cultures ($77M), Packaged Medicaments ($52.9M), and Animal Food ($28.3M). Over the past 5 years the exports of Belgium to Iraq have increased at an annualized rate of 13.9%, from $157M in 2018 to $300M in 2023.

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

Comparison: In 2023, Iraq ranked 97 in the Economic Complexity Index (ECI -0.71), and 40 in total exports ($107B). 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, Iraq exported $81.3M to Belgium. The main products exported from Iraq to Belgium were Refined Petroleum ($60.9M), Petroleum Coke ($19.1M), and Non-Iron and Steel Slag, Ash and Residues ($1.06M). During the last 5 years the exports of Iraq to Belgium have increased at an annualized rate of 56%, from $8.8M in 2018 to $81.3M in 2023.

In 2018, Belgium exported $300M to Iraq. The main products exported from Belgium to Iraq were Vaccines, blood, antisera, toxins and cultures ($77M), Packaged Medicaments ($52.9M), and Animal Food ($28.3M). During the last 5 years the exports of Belgium to Iraq have increased at an annualized rate of 13.9%, from $157M in 2023 to $300M in 2018.

Exports from Iraq () to Belgium () (2023)

Exports from Belgium () to Iraq () (2023)

Latest Data

Trade between Iraq () and Belgium ()

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iraq
Top DestinationChina$35.5B

Belgium
Top DestinationFrance$85.6B

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

In 2023, countries that imported more from Iraq than Belgium included China ($35.5B), India ($29.8B), and Greece ($5.68B).

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

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

Comparative Advantage Iraq - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Iraq had a large net trade with Belgium in the exports of Mineral Products ($81.1M), Machines ($135k), and Instruments ($12.8k).

During 2018, Belgium had a large net trade with Iraq in the exports of Chemical Products ($158M), Machines ($40.7M), and Foodstuffs ($37.3M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Iraq Belgium+$95.5MRefined Petroleum

Top Product Potential Belgium Iraq+$28.2MPackaged Medicaments

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

About

Historical Data

Bilateral Trade by Products

Exports from Iraq () to Belgium () (2023)

Exports from Belgium () to Iraq () (2023)

Latest Data

Trade between Iraq () and Belgium ()

Belgium Exports

Market Competitiveness

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

Comparative Advantage Iraq - Belgium

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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