Bèlgica: Visió econòmica i política
The Belgian economy is particularly open, with foreign trade representing 173% of GDP (World Bank, latest data available). In addition to being considered an export champion (10th in the world rank - WTO), Belgium plays an important role as a transit and distribution centre for other countries in the European Union. According to data from the Belgian Foreign Trade Agency, the majority of exports comprise chemical products (29.4%), mineral products (9.9%), machinery and equipment (9.7%), transport equipment (9.7%) and plastics (8.1%). The main imports are chemical products (25.9%), mineral products (14.3%), machinery and equipment (12.4%), transport equipment (10.4%) and base metals (7.4%).
Belgium role as a regional logistical hub makes its economy vulnerable to shifts in foreign demand, particularly with EU trading partners (around 65% of exports and imports). Germany remains the first customer (18.6%), followed by France (14.3%), the Netherlands (12.2%) and the U.S. (5.9%). The main suppliers are the Netherlands (18.7%), Germany (10.5%), France (9.1%), the United States (6.1%) and China (5.5% - data Belgian Foreign Trade Agency).
According to WTO data, in 2021 exports amounted to USD 545.2 billion, while imports reached USD 510.2 billion. Exports of services totalled USD 136.6 billion, while imports stood at USD 134.5 billion. The country’s trade balance is traditionally positive when including services: the trade surplus represented around 1.1% of GDP in 2021 (from 1.7 one year earlier - World Bank). According to the latest data from the Belgian Foreign Trade Agency, in the period Jan-Sep 2022 Belgium exported EUR 448.7 billion and imported EUR 453 billion (up by 34.6% and 44% year-on-year, respectively).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 408,915 | 454,947 | 427,708 | 396,132 | 510,208 |
Exports of Goods (million USD) | 430,554 | 468,650 | 446,944 | 419,892 | 545,284 |
Imports of Services (million USD) | 115,140 | 124,928 | 122,524 | 115,242 | 134,494 |
Exports of Services (million USD) | 117,414 | 121,682 | 119,333 | 113,459 | 136,653 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 165.3 | 166.5 | 164.2 | 157.2 | 172.7 |
Trade Balance (million USD) | 2,706 | -2,004 | 4,176 | 7,037 | 5,014 |
Trade Balance (Including Service) (million USD) | 5,263 | -1,651 | 3,344 | 8,876 | 6,605 |
Imports of Goods and Services (Annual % Change) | 5.2 | 2.0 | 2.0 | -5.6 | 10.7 |
Exports of Goods and Services (Annual % Change) | 5.5 | 1.1 | 2.4 | -5.0 | 11.3 |
Imports of Goods and Services (in % of GDP) | 82.1 | 83.4 | 81.8 | 77.7 | 85.8 |
Exports of Goods and Services (in % of GDP) | 83.2 | 83.1 | 82.4 | 79.4 | 86.9 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 4.6 | 1.0 | 2.9 | 3.7 | 3.6 |
Volume of imports of goods and services (Annual % change) | 4.1 | 1.4 | 3.2 | 4.2 | 4.0 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
Germany | 20.2% |
Netherlands | 14.1% |
France | 12.4% |
United States | 6.8% |
United Kingdom | 5.1% |
See More Countries | 41.4% |
Main Suppliers (% of Imports) |
2022 |
Netherlands | 20.5% |
Germany | 12.5% |
France | 10.4% |
United Kingdom | 6.3% |
United States | 5.3% |
See More Countries | 44.9% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: September 2023