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2022
Exports $32.4BWorld Rnk 11 / 214
Flag Rnk 3 / 1213
2022
Destination $5.04B Netherlands
2021 - 2022
FASTEST GROWING MARKET $5.04BNigeria
2022
PRODUCT COMPLEXITY IN Refined Petroleum-0.87Rnk 795 / 1025
2022
Imports $28.5BWorld Rnk 8 / 225
Flag Rnk 2 / 1214
2022
Origin $3.42B Netherlands
2021 - 2022
FASTEST GROWING ORIGIN $3.42BNetherlands
2022
ECONOMIC COMPLEXITY of Belgium1.25Rnk 19 / 133

About

Exports In 2022, Belgium exported $32.4B in Refined Petroleum, making it the 11th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 3rd most exported product in Belgium. The main destination of Refined Petroleum exports from Belgium are: Netherlands ($6.84B), Nigeria ($6.83B), Germany ($3.77B), France ($3.29B), and Luxembourg ($1.53B).

The fastest growing export markets for Refined Petroleum of Belgium between 2021 and 2022 were Nigeria ($5.04B), Netherlands ($2.11B), and Germany ($1.05B).

Imports In 2022, Belgium imported $28.5B in Refined Petroleum, becoming the 8th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Belgium. Belgium imports Refined Petroleum primarily from: Netherlands ($10B), Russia ($3.99B), United Kingdom ($2.33B), France ($1.85B), and India ($1.35B).

The fastest growing import markets in Refined Petroleum for Belgium between 2021 and 2022 were Netherlands ($3.42B), Russia ($1.83B), and France ($701M).

COMPANIES In 2023, leading companies such as Toyota (36), Chevron (4), and Givaudan Fragrances (2) were at the forefront of shipping Refined Petroleum from Belgium to the United States.

Latest Trends

August 2024

About

Overview In August 2024 Belgium's Refined Petroleum exports accounted up to €2.08B and imports accounted up to €1.04B, resulting in a positive trade balance of €1.04B. Between August 2023 and August 2024 the exports of Belgium's   Refined Petroleum have decreased by €-312M (-13%) from €2.39B to €2.08B, while imports decreased by €-140M (-11.9%) from €1.18B to €1.04B.

Destinations In August 2024, Refined Petroleum were exported mostly to Nigeria (€466M), Netherlands (€356M), Germany (€259M), France (€201M), and Areas (€120M), and were imported mostly from Netherlands (€459M), United States (€77.5M), France (€73.4M), United Kingdom (€64M), and Algeria (€61.2M).

Growth In August 2024, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Senegal (€-159M or -95%), Angola (€-61.8M or -99.7%), and Libya (€-50.4M or -36.7%). In August 2024, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from United Kingdom (€-70M or -43.8%), Algeria (€-21.9M or -100%), and Italy (€-11M or -97%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)€-312M(-13%)
IMPORT GROWTH (August 2023 - August 2024)€-140M(-11.9%)
MAIN DESTINATION (August 2024)Nigeria€466M

This section shows Refined 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 Refined Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$32.4B
IMPORTS (2022)$28.5B
NET TRADE (2022)$3.87B

In 2022, Belgium exported $32.4B in Refined Petroleum. The main destinations of Belgium exports on Refined Petroleum were Netherlands ($6.84B), Nigeria ($6.83B), Germany ($3.77B), France ($3.29B), and Luxembourg ($1.53B).

In 2022, Belgium imported $28.5B in Refined Petroleum, mainly from Netherlands ($10B), Russia ($3.99B), United Kingdom ($2.33B), France ($1.85B), and India ($1.35B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Belgium WERE (2021 - 2022):
Nigeria$5.04B (283%)
Netherlands$2.11B (44.7%)
Germany$1.05B (38.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Belgium WERE (2021 - 2022):
United States-$160M (-31.3%)
Egypt-$155M (-80.6%)
Gibraltar-$123M (-93.2%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Belgium's main exporting competitors in Refined Petroleum were:
United States $138B
India $86.2B
Netherlands $68.1B
In 2022, Belgium's main importing competitors in Refined Petroleum were:
United States $81.7B
Singapore $58.5B
Netherlands $51.1B

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $2.47B
TOP IMPORT POTENTIALNetherlands+ $1.42B

Refined Petroleum’s highest export potential is Germany. With an export gap of $2.47B.   Refined Petroleum’s highest import potential is Netherlands with an import gap of $1.42B.

See methodology.

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