Source: OEC
In 2021, Belgium was the number 23 economy in the world in terms of GDP (current US$), the number 15 in total exports, the number 14 in total imports, the number 25 economy in terms of GDP per capita (current US$) and the number 18 most complex economy according to the Economic Complexity Index (ECI).
In August 2023 Belgium exported €26.7B and imported €28.9B, resulting in a negative trade balance of €2.19B. Between August 2022 and August 2023 the exports of Belgium have decreased by €-11.1B (-29.3%) from €37.8B to €26.7B, while imports decreased by €-13.8B (-32.4%) from €42.7B to €28.9B.
Please note that 2021 figures contain Vaccines against COVID which might have a temporary effect specifically when compared to other years before or after.
In August 2023, the decrease in Belgium’s year-by-year exports was explained primarily by an decrease in exports to Germany (€-4.97B or -52.9%), Netherlands (€-2.5B or -39.7%), and United States (€-1.32B or -40.8%), and product exports decrease in Mineral fuels, mineral oils and products… (€-7.67B or -67.3%), Pharmaceutical products (€-1.08B or -20.5%), and Organic chemicals (€-531M or -33.8%). In August 2023, the decrease in Belgium’s year-by-year imports was explained primarily by an decrease in imports from United Kingdom (€-2.79B or -72.3%), Germany (€-1.68B or -32.4%), and Ireland (€-1.61B or -47.4%), and product imports decrease in Mineral fuels, mineral oils and products… (€-7.75B or -62.1%), Organic chemicals (€-2.91B or -62.8%), and Pharmaceutical products (€-1.32B or -25.6%).
The top exports of Belgium are Vaccines, blood, antisera, toxins and cultures ($47.2B), Cars ($23B), Packaged Medicaments ($22.3B), Refined Petroleum ($18.1B), and Diamonds ($13.9B), exporting mostly to Germany ($62.7B), France ($59.9B), Netherlands ($50.4B), United Kingdom ($26B), and United States ($24.7B).
In 2021, Belgium was the world’s biggest exporter of Vaccines, blood, antisera, toxins and cultures ($47.2B), Other Frozen Vegetables ($2.34B), Looms ($708M), Vegetable and Mineral Carvings ($223M), and Zinc Powder ($138M).
The top imports of Belgium are Cars ($25.4B), Vaccines, blood, antisera, toxins and cultures ($22.5B), Refined Petroleum ($21.1B), Packaged Medicaments ($19.8B), and Petroleum Gas ($19.7B), importing mostly from Netherlands ($80.2B), Germany ($59.1B), France ($43.8B), United States ($28.7B), and China ($26.4B).
In 2021, Belgium was the world’s biggest importer of Non-Iron and Steel Slag, Ash and Residues ($3.26B), Raw Tobacco ($864M), Potatoes ($518M), Linseed ($348M), and Antimony ($107M)
Trade Relations between Belgium and North Macedonia: see here
Belgian-Macedonian Business Club 