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2022
Exports $18.2BWorld Rnk 10 / 223
Flag Rnk 8 / 96
2022
Destination $682M Germany
2021 - 2022
FASTEST GROWING MARKET $682MGermany
2022
PRODUCT COMPLEXITY IN Iron & steel1.68Rnk 28 / 1025
2022
Imports $14.9BWorld Rnk 12 / 225
Flag Rnk 9 / 96
2022
Origin $349M Germany
2021 - 2022
FASTEST GROWING ORIGIN $349MChina
2022
ECONOMIC COMPLEXITY of Belgium1.25Rnk 19 / 133

About

Exports In 2022, Belgium exported $18.2B in Iron & steel, making it the 10th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 8th most exported product in Belgium. The main destination of Iron & steel exports from Belgium are: Germany ($4.41B), France ($4.32B), Netherlands ($2.22B), Italy ($970M), and Turkey ($894M).

The fastest growing export markets for Iron & steel of Belgium between 2021 and 2022 were Germany ($682M), France ($429M), and Italy ($209M).

Imports In 2022, Belgium imported $14.9B in Iron & steel, becoming the 12th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 9th most imported product in Belgium. Belgium imports Iron & steel primarily from: Germany ($2.76B), France ($2.27B), Netherlands ($1.92B), Russia ($1.06B), and China ($922M).

The fastest growing import markets in Iron & steel for Belgium between 2021 and 2022 were China ($349M), Brazil ($265M), and South Korea ($178M).

COMPANIES In 2023, leading companies such as Volvo (216), Mercedes-Benz (153), and Stanley Black & Decker (39) were at the forefront of shipping Iron & steel from Belgium to the United States.

Latest Trends

August 2024

About

Overview In August 2024 Belgium's Iron & steel exports accounted up to €759M and imports accounted up to €582M, resulting in a positive trade balance of €177M. Between August 2023 and August 2024 the exports of Belgium's   Iron & steel have decreased by €-175M (-18.7%) from €934M to €759M, while imports decreased by €-287M (-33%) from €869M to €582M.

Destinations In August 2024, Iron & steel were exported mostly to Germany (€207M), France (€98.1M), Netherlands (€97.7M), Poland (€48.1M), and Turkey (€44.7M), and were imported mostly from Germany (€143M), Netherlands (€140M), France (€109M), Russia (€52M), and South Korea (€20M).

Growth In August 2024, the decrease in Iron & steel's year-by-year exports was explained primarily by a decrease in exports to Turkey (€-37.2M or -42.2%), France (€-27.7M or -9.01%), and Poland (€-24.3M or -38.6%). In August 2024, the decrease in Iron & steel's year-by-year imports was explained primarily by a decrease in imports from France (€-90.6M or -38.9%), India (€-78.3M or -88.2%), and Russia (€-71.1M or -50.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)€-175M(-18.7%)
IMPORT GROWTH (August 2023 - August 2024)€-287M(-33%)
MAIN DESTINATION (August 2024)Germany€207M

This section shows Iron & steel'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 Iron & steel over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$18.2B
IMPORTS (2022)$14.9B
NET TRADE (2022)$3.31B

In 2022, Belgium exported $18.2B in Iron & steel. The main destinations of Belgium exports on Iron & steel were Germany ($4.41B), France ($4.32B), Netherlands ($2.22B), Italy ($970M), and Turkey ($894M).

In 2022, Belgium imported $14.9B in Iron & steel, mainly from Germany ($2.76B), France ($2.27B), Netherlands ($1.92B), Russia ($1.06B), and China ($922M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Belgium WERE (2021 - 2022):
Germany$682M (18.3%)
France$429M (11%)
Italy$209M (27.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Belgium WERE (2021 - 2022):
Egypt-$108M (-19.7%)
Luxembourg-$85.8M (-26.2%)
Russia-$69.5M (-86.2%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Belgium's main exporting competitors in Iron & steel were:
China $69.8B
Germany $36.9B
Japan $35.7B
In 2022, Belgium's main importing competitors in Iron & steel were:
United States $43.2B
China $41.4B
Germany $36B

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $912M
TOP IMPORT POTENTIALGermany+ $522M

Iron & steel’s highest export potential is Germany. With an export gap of $912M.   Iron & steel’s highest import potential is Germany with an import gap of $522M.

See methodology.

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