Thailand (THA) and Belgium (BEL) Trade | The Observatory of Economic Complexity

About

Thailand-Belgium Trade: In 2023, Thailand exported $1.17B to Belgium. The main products that Thailand exported to Belgium were Diamonds ($177M), Integrated Circuits ($114M), and Motorcycles and cycles ($99.6M). Over the past 5 years the exports of Thailand to Belgium have decreased at an annualized rate of 1.13%, from $1.23B in 2018 to $1.17B in 2023.

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

Belgium-Thailand Trade: In 2023, Belgium exported $739M to Thailand. The main products that Belgium exported to Thailand were Diamonds ($89M), Packaged Medicaments ($63M), and Vaccines, blood, antisera, toxins and cultures ($46.4M). Over the past 5 years the exports of Belgium to Thailand have decreased at an annualized rate of 9.58%, from $1.22B in 2018 to $739M in 2023.

In 2020, Belgium exported services to Thailand worth $66.2M, with Other business services ($40M), Transportation ($13.7M), and Travel ($6.85M) being the largest in terms of value.

Comparison: In 2023, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). 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, Thailand exported $1.17B to Belgium. The main products exported from Thailand to Belgium were Diamonds ($177M), Integrated Circuits ($114M), and Motorcycles and cycles ($99.6M). During the last 5 years the exports of Thailand to Belgium have decreased at an annualized rate of 1.13%, from $1.23B in 2018 to $1.17B in 2023.

In 2018, Belgium exported $739M to Thailand. The main products exported from Belgium to Thailand were Diamonds ($89M), Packaged Medicaments ($63M), and Vaccines, blood, antisera, toxins and cultures ($46.4M). During the last 5 years the exports of Belgium to Thailand have decreased at an annualized rate of 9.58%, from $1.22B in 2023 to $739M in 2018.

Exports from Thailand () to Belgium () (2023)

Exports from Belgium () to Thailand () (2023)

Latest Data

Trade between Thailand () and Belgium ()

Thailand Exports

Date

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Thailand
Top DestinationUnited States$58.5B

Belgium
Top DestinationFrance$85.6B

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

In 2023, countries that imported more from Thailand than Belgium included China ($44.1B), United States ($58.5B), and Japan ($24.9B).

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

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

Comparative Advantage Thailand - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Thailand had a large net trade with Belgium in the exports of Machines ($408M), Precious Metals ($200M), and Transportation ($167M).

During 2018, Belgium had a large net trade with Thailand in the exports of Chemical Products ($232M), Machines ($111M), and Precious Metals ($103M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Thailand Belgium+$52.2MIntegrated Circuits

Top Product Potential Belgium Thailand+$45.4MVaccines, blood, antisera, toxins and cultures

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

Bel Year

In 2020, Belgium exported services to Thailand worth $66.2M, with Other business services ($40M), Transportation ($13.7M), and Travel ($6.85M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Thailand () to Belgium () (2023)

Exports from Belgium () to Thailand () (2023)

Latest Data

Trade between Thailand () and Belgium ()

Thailand Exports

Belgium Exports

Market Competitiveness

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

Comparative Advantage Thailand - Belgium

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

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

Keep Exploring