Japan (JPN) and Belgium (BEL) Trade

Japan-Belgium Trade: In 2022, Japan exported $6.8B to Belgium. The main products that Japan exported to Belgium were Motor vehicles; parts and accessories (8701 to 8705) ($1.48B), Cars ($1.19B), and Medical Instruments ($285M). Over the past 5 years the exports of Japan to Belgium have increased at an annualized rate of 0.98%, from $6.47B in 2017 to $6.8B in 2022.

In 2009, Japan exported services to Belgium worth $4.62B, with Services not allocated ($2.31B), Other business services ($1.64B), and Royalties and license fees ($337M) being the largest in terms of value.

Belgium-Japan Trade: In 2022, Belgium exported $8.82B to Japan. The main products that Belgium exported to Japan were Vaccines, blood, antisera, toxins and cultures ($6.02B), Packaged Medicaments ($615M), and Cars ($266M). Over the past 5 years the exports of Belgium to Japan have increased at an annualized rate of 8.28%, from $2.9B in 2017 to $8.82B in 2022.

In 2020, Belgium exported services to Japan worth $1.08B, with Other business services ($535M), Royalties and license fees ($234M), and Transportation ($167M) being the largest in terms of value.

Comparison: In 2022, Japan ranked 1 in the Economic Complexity Index (ECI 2.07), and 4 in total exports ($728B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Latest Trends

August, 2024

About

Overview In August 2024, Japan exported ¥62.4B and imported ¥140B from Belgium, resulting in a negative trade balance of ¥77.9B. Between August 2023 and August 2024 the exports of Japan have decreased by ¥-10.5B (-14.5%) from ¥73B to ¥62.4B, while imports increased by ¥116B (488%) from ¥23.9B to ¥140B.

Trade In August 2024, the top exports of Japan to Belgium were Cars (¥10.9B), Motor vehicles; parts and accessories (8701... (¥3.97B), Medical Instruments (¥3B), Centrifuges (¥2.66B), and Motorcycles and cycles (¥2.01B). In August 2024 the top imports of Japan from Belgium were Packaged Medicaments (¥4.48B), Platinum (¥3.03B), Cars (¥2.95B), Vaccines, blood, antisera, toxins and cultures (¥2.39B), and Chocolate (¥1.15B).

Origins In August 2024 the exports of Japan were mainly from Aichi (¥13.8B), Chiba (¥7.36B), Mie (¥6.5B), Hyōgo (¥6.43B), and Fukuoka (¥5.04B), while imports destinations were mainly Osaka (¥121B), Chiba (¥6.36B), Aichi (¥4.52B), Tokyo (¥3.94B), and Kanagawa (¥2.33B).

Growth In August 2024, the decrease in Japan's year-by-year exports to Belgium was explained primarily by an decrease in product exports in Motor vehicles; parts and accessories (8701... (¥-13.9B or -77.8%), Cars (¥-4.23B or -28.1%), and Vaccines, blood, antisera, toxins and cultures (¥-1.22B or -89.8%). In August 2024, the increase in Japan's year-by-year imports from Belgium was explained primarily by an increase in product imports in Platinum (¥2.1B or 225%), Packaged Medicaments (¥1.19B or 36.1%), and Pesticides (¥869M or 1.18k%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (August 2023 - August 2024)¥-10.5B(-14.5%)

IMPORT GROWTH (August 2023 - August 2024)¥116B(488%)

MAIN EXPORTER (August 2024)Aichi¥13.8B

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Japan exported $6.8B to Belgium. The main products exported from Japan to Belgium were Motor vehicles; parts and accessories (8701 to 8705) ($1.48B), Cars ($1.19B), and Medical Instruments ($285M). During the last 5 years the exports of Japan to Belgium have increased at an annualized rate of 0.98%, from $6.47B in 2017 to $6.8B in 2022.

In 2017, Belgium exported $8.82B to Japan. The main products exported from Belgium to Japan were Vaccines, blood, antisera, toxins and cultures ($6.02B), Packaged Medicaments ($615M), and Cars ($266M). During the last 5 years the exports of Belgium to Japan have increased at an annualized rate of 8.28%, from $2.9B in 2022 to $8.82B in 2017.

Exports from Japan () to Belgium () (2022)

Exports from Belgium () to Japan () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Japan
Top DestinationUnited States$137B

Belgium
Top DestinationGermany$91.9B

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

In 2022, countries that imported more from Japan than Belgium included China ($135B), United States ($137B), and Chinese Taipei ($50.1B).

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

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

Comparative Advantage Japan - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Japan had a large net trade with Belgium in the exports of Transportation ($2.9B), Machines ($1.49B), and Chemical Products ($692M).

During 2017, Belgium had a large net trade with Japan in the exports of Chemical Products ($7.16B), Transportation ($331M), and Machines ($260M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Japan Belgium+$355MCars

Top Product Potential Belgium Japan+$242MPackaged 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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Bilateral Service Trade

Bel Year

Jpn Year

In 2020, Belgium exported services to Japan worth $1.08B, with Other business services ($535M), Royalties and license fees ($234M), and Transportation ($167M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Japan () to Belgium () (2009)

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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

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