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2022
Exports $24.8BWorld Rnk 7 / 217
Flag Rnk 4 / 1213
2022
Destination $1.3B United States
2021 - 2022
FASTEST GROWING MARKET $1.3BVietnam
2022
PRODUCT COMPLEXITY IN Packaged Medicaments0.67Rnk 291 / 1025
2022
Imports $24.3BWorld Rnk 4 / 224
Flag Rnk 4 / 1214
2022
Origin $2.81B Italy
2021 - 2022
FASTEST GROWING ORIGIN $2.81BItaly
2022
ECONOMIC COMPLEXITY of Belgium1.25Rnk 19 / 133

About

Exports In 2022, Belgium exported $24.8B in Packaged Medicaments, making it the 7th largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 4th most exported product in Belgium. The main destination of Packaged Medicaments exports from Belgium are: United States ($5.23B), Italy ($2.9B), Germany ($2.09B), Netherlands ($2.08B), and France ($1.44B).

The fastest growing export markets for Packaged Medicaments of Belgium between 2021 and 2022 were Vietnam ($1.3B), Germany ($869M), and United States ($661M).

Imports In 2022, Belgium imported $24.3B in Packaged Medicaments, becoming the 4th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 4th most imported product in Belgium. Belgium imports Packaged Medicaments primarily from: Italy ($8.88B), Germany ($4.2B), United Kingdom ($2.63B), France ($2.46B), and United States ($2B).

The fastest growing import markets in Packaged Medicaments for Belgium between 2021 and 2022 were Italy ($2.81B), Germany ($1.09B), and United Kingdom ($377M).

COMPANIES In 2023, leading companies such as Baxter Healthcare (28) and L'Oreal (19) were at the forefront of shipping Packaged Medicaments from Belgium to the United States.

Latest Trends

August 2024

About

Overview In August 2024 Belgium's Packaged Medicaments exports accounted up to €1.74B and imports accounted up to €1.21B, resulting in a positive trade balance of €532M. Between August 2023 and August 2024 the exports of Belgium's   Packaged Medicaments have decreased by €-383M (-18%) from €2.12B to €1.74B, while imports increased by €11.5M (0.96%) from €1.2B to €1.21B.

Destinations In August 2024, Packaged Medicaments were exported mostly to United States (€417M), Italy (€285M), Germany (€128M), Spain (€97M), and China (€64.4M), and were imported mostly from Italy (€353M), France (€265M), United States (€194M), Germany (€146M), and Switzerland (€72.1M).

Growth In August 2024, the decrease in Packaged Medicaments's year-by-year exports was explained primarily by a decrease in exports to Vietnam (€-223M or -70.3%), Germany (€-65.9M or -29.5%), and Turkey (€-65.3M or -84%). In August 2024, the increase in Packaged Medicaments's year-by-year imports was explained primarily by an increase in imports from Germany (€290M or 322%), Italy (€155M or 37.5%), and Switzerland (€100M or 98.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)€-383M(-18%)
IMPORT GROWTH (August 2023 - August 2024)€11.5M(0.96%)
MAIN DESTINATION (August 2024)United States€417M

This section shows Packaged Medicaments'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 Packaged Medicaments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$24.8B
IMPORTS (2022)$24.3B
NET TRADE (2022)$518M

In 2022, Belgium exported $24.8B in Packaged Medicaments. The main destinations of Belgium exports on Packaged Medicaments were United States ($5.23B), Italy ($2.9B), Germany ($2.09B), Netherlands ($2.08B), and France ($1.44B).

In 2022, Belgium imported $24.3B in Packaged Medicaments, mainly from Italy ($8.88B), Germany ($4.2B), United Kingdom ($2.63B), France ($2.46B), and United States ($2B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR Belgium WERE (2021 - 2022):
Vietnam$1.3B (956%)
Germany$869M (71%)
United States$661M (14.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY Belgium WERE (2021 - 2022):
United Kingdom-$595M (-52%)
Japan-$158M (-20.5%)
Luxembourg-$131M (-28.2%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Belgium's main exporting competitors in Packaged Medicaments were:
Germany $74.8B
Switzerland $45.4B
United States $38.2B
In 2022, Belgium's main importing competitors in Packaged Medicaments were:
United States $91.3B
Switzerland $32.9B
Germany $32B

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Trade Value of Packaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $1.41B
TOP IMPORT POTENTIALGermany+ $1.8B

Packaged Medicaments’s highest export potential is Germany. With an export gap of $1.41B.   Packaged Medicaments’s highest import potential is Germany with an import gap of $1.8B.

See methodology.

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