Overview In 2020 Belgium was the number 23 economy in the world in terms of GDP (current US$), the number 14 in total exports, the number 14 in total imports, the number 20 economy in terms of GDP per capita (current US$) and the number 17 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Belgium are Cars ($21.9B), Packaged Medicaments ($21.6B), Vaccines, blood, antisera, toxins and cultures ($21.3B), Refined Petroleum ($12.2B), and Diamonds ($8.86B), exporting mostly to Germany ($45.7B), France ($44.4B), Netherlands ($37.1B), United States ($24.7B), and United Kingdom ($20.1B).

In 2020, Belgium was the world's biggest exporter of Other Frozen Vegetables ($2.08B), Frozen Vegetables ($1.23B), Looms ($433M), Vegetable and Mineral Carvings ($207M), and Zinc Powder ($115M)

Imports The top imports of Belgium are N/A, importing mostly from Netherlands ($56.1B), Germany ($47.7B), France ($34.6B), United States ($22.4B), and Italy ($16.6B).

In 2020, Belgium was the world's biggest importer of Saturated Acyclic Monocarboxylic Acids ($1.05B), Raw Tobacco ($957M), Glass Working Machines ($557M), Potatoes ($379M), and Antimony ($51.1M)

Location Belgium borders France, Germany, Luxembourg, and Netherlands by land and United Kingdom by sea.

April, 2022

Historical Data

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

Belgium Exports Services (2019): $82.9B

Belgium Imports Services (2019): $94B

In 2019, Belgium exported $82.9B worth of services. The top services exported by Belgium in 2019 were Miscellaneous business, professional, and technical services ($39.4B), Other transport ($12.4B), Sea transport ($8.06B), Financial services ($5.26B), and Royalties and license fees ($3.73B).

The top services imported by Belgium in 2019 were Miscellaneous business, professional, and technical services ($37B), Personal travel ($16.5B), Other transport ($14.7B), Sea transport ($7.4B), and Financial services ($6.22B).

Economic Complexity

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Most Specialized Products by RCA Index

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Belgium has a high level of specialization in Flax Fibers (15.6), Looms (15.2), Other Frozen Vegetables (13.3), Vegetable and Mineral Carvings (11.8), and Antifreeze (9.53). Specialization is measured using RCA, an index that takes the ratio between Belgium observed and expected exports in each product.

Export Opportunities by Relatedness

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The top export opportunities for Belgium according to the relatedness index, are Casein (0.41), Petroleum Coke (0.41), Scented Mixtures (0.4), Bovine, Sheep, and Goat Fat (0.4), and Laboratory Reagents (0.4). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Belgium is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Belgium. These are products that tend to be co-exported with the products that Belgium exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

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During the last 21 years Belgium's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨13th to the 17th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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