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2022
Exports $173MWorld Rnk 13 / 165
Flag Rnk 338 / 1213
2022
Destination $4M Germany
2021 - 2022
FASTEST GROWING MARKET $4MItaly
2022
PRODUCT COMPLEXITY IN Forging Machines1.5Rnk 53 / 1025
2022
Imports $117MWorld Rnk 24 / 211
Flag Rnk 473 / 1214
2022
Origin $5.89M Italy
2021 - 2022
FASTEST GROWING ORIGIN $5.89MChina
2022
ECONOMIC COMPLEXITY of Belgium1.25Rnk 19 / 133

About

Exports In 2022, Belgium exported $173M in Forging Machines, making it the 13th largest exporter of Forging Machines in the world. At the same year, Forging Machines was the 338th most exported product in Belgium. The main destination of Forging Machines exports from Belgium are: Germany ($22.9M), France ($22.2M), Italy ($20.3M), Netherlands ($17.1M), and United Kingdom ($14.5M).

The fastest growing export markets for Forging Machines of Belgium between 2021 and 2022 were Italy ($4M), Turkey ($2.8M), and United States ($2.8M).

Imports In 2022, Belgium imported $117M in Forging Machines, becoming the 24th largest importer of Forging Machines in the world. At the same year, Forging Machines was the 473rd most imported product in Belgium. Belgium imports Forging Machines primarily from: Italy ($21.9M), Japan ($16.9M), China ($13.7M), Germany ($13.1M), and Slovakia ($8.07M).

The fastest growing import markets in Forging Machines for Belgium between 2021 and 2022 were China ($5.89M), Italy ($5.66M), and Switzerland ($2.99M).

COMPANIES In 2023, leading companies such as Victaulic (2) and General Motors (2) were at the forefront of shipping Forging Machines from Belgium to the United States.

Latest Trends

June 2024

About

Overview In June 2024 Belgium's Forging Machines exports accounted up to €16.2M and imports accounted up to €3.94M, resulting in a positive trade balance of €12.3M. Between June 2023 and June 2024 the exports of Belgium's   Forging Machines have increased by €2.19M (15.6%) from €14M to €16.2M, while imports decreased by €-2.71M (-40.7%) from €6.65M to €3.94M.

Destinations In June 2024, Forging Machines were exported mostly to Germany (€5.92M), Netherlands (€3.05M), Italy (€1.84M), France (€1.77M), and Argentina (€932k), and were imported mostly from Germany (€1.66M), China (€1.02M), Italy (€907k), Turkey (€229k), and Finland (€43.4k).

Growth In June 2024, the increase in Forging Machines's year-by-year exports was explained primarily by an increase in exports to France (€1.87M or 432%), Spain (€939k or 894k%), and United Kingdom (€322k or 30.2%). In June 2024, the decrease in Forging Machines's year-by-year imports was explained primarily by a decrease in imports from Germany (€-139k or -77.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)€2.19M(15.6%)
IMPORT GROWTH (June 2023 - June 2024)€-2.71M(-40.7%)
MAIN DESTINATION (June 2024)Germany€5.92M

This section shows Forging Machines'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 Forging Machines over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$173M
IMPORTS (2022)$117M
NET TRADE (2022)$56.3M

In 2022, Belgium exported $173M in Forging Machines. The main destinations of Belgium exports on Forging Machines were Germany ($22.9M), France ($22.2M), Italy ($20.3M), Netherlands ($17.1M), and United Kingdom ($14.5M).

In 2022, Belgium imported $117M in Forging Machines, mainly from Italy ($21.9M), Japan ($16.9M), China ($13.7M), Germany ($13.1M), and Slovakia ($8.07M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Forging Machines EXPORT MARKETS FOR Belgium WERE (2021 - 2022):
Italy$4M (24.5%)
Turkey$2.8M (786%)
United States$2.8M (27.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Forging Machines BY Belgium WERE (2021 - 2022):
Germany-$14.3M (-38.5%)
China-$7.48M (-91.3%)
Ukraine-$4.61M (-97.8%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Belgium's main exporting competitors in Forging Machines were:
China $1.72B
Italy $1.2B
Germany $1.02B
In 2022, Belgium's main importing competitors in Forging Machines were:
United States $1.33B
China $825M
Mexico $547M

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Trade Value of Forging Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $11M
TOP IMPORT POTENTIALGermany+ $11.5M

Forging Machines’s highest export potential is Germany. With an export gap of $11M.   Forging Machines’s highest import potential is Germany with an import gap of $11.5M.

See methodology.

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