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2022
Exports $73.5BWorld Rnk 5 / 223
Flag Rnk 2 / 96
2022
Destination $2.95B United States
2021 - 2022
FASTEST GROWING MARKET $2.95BUnited States
2022
PRODUCT COMPLEXITY IN Pharmaceutical products1.38Rnk 75 / 1025
2022
Imports $46.9BWorld Rnk 4 / 226
Flag Rnk 3 / 96
2022
Origin $3.81B Ireland
2021 - 2022
FASTEST GROWING ORIGIN $3.81BIreland
2022
ECONOMIC COMPLEXITY of Belgium1.25Rnk 19 / 133

About

Exports In 2022, Belgium exported $73.5B in Pharmaceutical products, making it the 5th largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 2nd most exported product in Belgium. The main destination of Pharmaceutical products exports from Belgium are: United States ($14.8B), Germany ($10.2B), Japan ($6.65B), Italy ($5.15B), and France ($4.13B).

The fastest growing export markets for Pharmaceutical products of Belgium between 2021 and 2022 were United States ($2.95B), Vietnam ($1.24B), and Japan ($1.18B).

Imports In 2022, Belgium imported $46.9B in Pharmaceutical products, becoming the 4th largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 3rd most imported product in Belgium. Belgium imports Pharmaceutical products primarily from: Ireland ($10.6B), Italy ($10.3B), Germany ($5.71B), France ($5.24B), and United States ($4.2B).

The fastest growing import markets in Pharmaceutical products for Belgium between 2021 and 2022 were Ireland ($3.81B), Italy ($2.87B), and Germany ($824M).

COMPANIES In 2023, leading companies such as Baxter Healthcare (28), L'Oreal (19), and Dow Chemical (1) were at the forefront of shipping Pharmaceutical products from Belgium to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Belgium's Pharmaceutical products exports accounted up to €5.08B and imports accounted up to €3.4B, resulting in a positive trade balance of €1.68B. Between July 2023 and July 2024 the exports of Belgium's   Pharmaceutical products have increased by €434M (9.34%) from €4.64B to €5.08B, while imports decreased by €-1.57B (-31.6%) from €4.98B to €3.4B.

Destinations In July 2024, Pharmaceutical products were exported mostly to United States (€1.45B), Germany (€587M), United Kingdom (€451M), Italy (€336M), and France (€242M), and were imported mostly from Switzerland (€660M), Italy (€628M), Germany (€485M), United States (€483M), and Ireland (€336M).

Growth In July 2024, the increase in Pharmaceutical products's year-by-year exports was explained primarily by an increase in exports to United States (€379M or 73.8%), China (€288M or 483%), and Netherlands (€182M or 260%). In July 2024, the decrease in Pharmaceutical products's year-by-year imports was explained primarily by a decrease in imports from Ireland (€-1.12B or -63%), United Kingdom (€-101M or -65.8%), and France (€-32.8M or -10.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)€434M(9.34%)
IMPORT GROWTH (July 2023 - July 2024)€-1.57B(-31.6%)
MAIN DESTINATION (July 2024)United States€1.45B

This section shows Pharmaceutical products'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 Pharmaceutical products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$73.5B
IMPORTS (2022)$46.9B
NET TRADE (2022)$26.6B

In 2022, Belgium exported $73.5B in Pharmaceutical products. The main destinations of Belgium exports on Pharmaceutical products were United States ($14.8B), Germany ($10.2B), Japan ($6.65B), Italy ($5.15B), and France ($4.13B).

In 2022, Belgium imported $46.9B in Pharmaceutical products, mainly from Ireland ($10.6B), Italy ($10.3B), Germany ($5.71B), France ($5.24B), and United States ($4.2B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR Belgium WERE (2021 - 2022):
United States$2.95B (24.9%)
Vietnam$1.24B (297%)
Japan$1.18B (21.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY Belgium WERE (2021 - 2022):
United Kingdom-$1.83B (-35.3%)
Germany-$1.27B (-11.1%)
Turkey-$571M (-64.9%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Belgium's main exporting competitors in Pharmaceutical products were:
Germany $125B
Switzerland $93.8B
United States $90B
In 2022, Belgium's main importing competitors in Pharmaceutical products were:
United States $168B
Germany $71.1B
Switzerland $48.5B

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Trade Value of Pharmaceutical products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $3.9B
TOP IMPORT POTENTIALGermany+ $2.86B

Pharmaceutical products’s highest export potential is Germany. With an export gap of $3.9B.   Pharmaceutical products’s highest import potential is Germany with an import gap of $2.86B.

See methodology.

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