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2023
Exports $730MWorld Rnk 44 / 150
Flag Rnk 110 / 1216
2023
Destination $6.71M Netherlands
2022 - 2023
FASTEST GROWING MARKET $6.71MQatar
2023
PRODUCT COMPLEXITY IN Crude Petroleum-2.37Rnk 1015 / 1025
2023
Imports $21.1BWorld Rnk 14 / 159
Flag Rnk 5 / 1213
2023
Origin $11.9B Netherlands
2022 - 2023
FASTEST GROWING ORIGIN $11.9BNetherlands
2023
ECONOMIC COMPLEXITY of Belgium1.23Rnk 20 / 132

About

Exports In 2023, Belgium exported $730M in Crude Petroleum, making it the 44th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 110th most exported product in Belgium. The main destination of Crude Petroleum exports from Belgium are: Netherlands ($720M), Qatar ($6.71M), France ($3.27M), Equatorial Guinea ($16.9k), and Denmark ($16.8k).

The fastest growing export markets for Crude Petroleum of Belgium between 2022 and 2023 were Qatar ($6.71M), France ($2.31M), and Equatorial Guinea ($16.9k).

Imports In 2023, Belgium imported $21.1B in Crude Petroleum, becoming the 14th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 5th most imported product in Belgium. Belgium imports Crude Petroleum primarily from: Netherlands ($20.8B), France ($65.8M), Trinidad and Tobago ($62.6M), Algeria ($60.4M), and United Kingdom ($55.4M).

The fastest growing import markets in Crude Petroleum for Belgium between 2022 and 2023 were Netherlands ($11.9B), Trinidad and Tobago ($36.9M), and Norway ($10.2M).

Latest Trends

October 2024

About

Overview In October 2024 Belgium's Crude Petroleum exports accounted up to €3.43M and imports accounted up to €1.8B, resulting in a negative trade balance of €1.79B. Between October 2023 and October 2024 the exports of Belgium's   Crude Petroleum have increased by €1.67M (94.8%) from €1.76M to €3.43M, while imports decreased by €-101M (-5.3%) from €1.9B to €1.8B.

Destinations In October 2024, Crude Petroleum were exported mostly to Netherlands (€3.43M), Luxembourg (€540), France (€282), United Kingdom (€12), and Turkey (€1), and were imported mostly from Netherlands (€1.77B), United States (€20.2M), United Kingdom (€6.13M), Algeria (€3.14M), and United Arab Emirates (€832).

Growth In October 2024, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to France (€34 or 309%) and United Kingdom (€3 or 60%). In October 2024, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from United Kingdom (€-2.91M or -87%) and United States (€-1.81M or -100%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)€1.67M(94.8%)
IMPORT GROWTH (October 2023 - October 2024)€-101M(-5.3%)
MAIN DESTINATION (October 2024)Netherlands€3.43M

This section shows Crude Petroleum's exports and imports data at subnational level for Belgium. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Crude Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$730M
IMPORTS (2023)$21.1B
NET TRADE (2023)-$20.4B

In 2023, Belgium exported $730M in Crude Petroleum. The main destinations of Belgium exports on Crude Petroleum were Netherlands ($720M), Qatar ($6.71M), France ($3.27M), Equatorial Guinea ($16.9k), and Denmark ($16.8k).

In 2023, Belgium imported $21.1B in Crude Petroleum, mainly from Netherlands ($20.8B), France ($65.8M), Trinidad and Tobago ($62.6M), Algeria ($60.4M), and United Kingdom ($55.4M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Belgium WERE (2022 - 2023):
Qatar$6.71M (1%)
France$2.31M (241%)
Equatorial Guinea$16.9k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Belgium WERE (2022 - 2023):
Netherlands-$121M (-14.4%)
Spain-$16.1M (-100%)
Gibraltar-$3.51M (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Belgium's main exporting competitors in Crude Petroleum were:
Saudi Arabia $181B
United States $125B
Russia $122B
In 2023, Belgium's main importing competitors in Crude Petroleum were:
China $319B
United States $170B
India $140B

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $181M
TOP IMPORT POTENTIALNigeria+ $279M

Crude Petroleum’s highest export potential is Netherlands. With an export gap of $181M.   Crude Petroleum’s highest import potential is Nigeria with an import gap of $279M.

See methodology.

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