Vietnam (VNM) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Vietnam-Belgium Trade: In 2023, Vietnam exported $893M to Belgium. The main products that Vietnam exported to Belgium were Medical Instruments ($135M), Coated Flat-Rolled Iron ($112M), and Coffee ($72.6M). Over the past 5 years the exports of Vietnam to Belgium have decreased at an annualized rate of 0.32%, from $908M in 2018 to $893M in 2023.

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

Belgium-Vietnam Trade: In 2023, Belgium exported $861M to Vietnam. The main products that Belgium exported to Vietnam were Vaccines, blood, antisera, toxins and cultures ($191M), Packaged Medicaments ($188M), and Diamonds ($111M). Over the past 5 years the exports of Belgium to Vietnam have increased at an annualized rate of 7.72%, from $594M in 2018 to $861M in 2023.

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

Comparison: In 2023, Vietnam ranked 60 in the Economic Complexity Index (ECI 0.067), and 15 in total exports ($424B). 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, Vietnam exported $893M to Belgium. The main products exported from Vietnam to Belgium were Medical Instruments ($135M), Coated Flat-Rolled Iron ($112M), and Coffee ($72.6M). During the last 5 years the exports of Vietnam to Belgium have decreased at an annualized rate of 0.32%, from $908M in 2018 to $893M in 2023.

In 2018, Belgium exported $861M to Vietnam. The main products exported from Belgium to Vietnam were Vaccines, blood, antisera, toxins and cultures ($191M), Packaged Medicaments ($188M), and Diamonds ($111M). During the last 5 years the exports of Belgium to Vietnam have increased at an annualized rate of 7.72%, from $594M in 2023 to $861M in 2018.

Exports from Vietnam () to Belgium () (2023)

Exports from Belgium () to Vietnam () (2023)

Latest Data

Trade between Vietnam () and Belgium ()

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Vietnam
Top DestinationUnited States$118B

Belgium
Top DestinationFrance$85.6B

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

In 2023, countries that imported more from Vietnam than Belgium included United States ($118B), China ($85.7B), and Japan ($25.1B).

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

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

Comparative Advantage Vietnam - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Vietnam had a large net trade with Belgium in the exports of Metals ($219M), Instruments ($138M), and Textiles ($90.4M).

During 2018, Belgium had a large net trade with Vietnam in the exports of Chemical Products ($424M), Precious Metals ($111M), and Machines ($78.3M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Vietnam Belgium+$32.8MOther Furniture

Top Product Potential Belgium Vietnam+$46MVaccines, 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.

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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Vietnam () to Belgium () (2023)

Exports from Belgium () to Vietnam () (2023)

Latest Data

Trade between Vietnam () and Belgium ()

Belgium Exports

Market Competitiveness

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

Comparative Advantage Vietnam - Belgium

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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