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Soft Commodities Trader
Due to increased sales, a soft commodity trader required a receivables purchase facility for one of their large customers - purchased from Africa and sold to the US.
Metals Trader
Purchasing commodities from Africa, the US, and Europe and selling to Europe, a metals trader required a receivables finance facility for a book of their receivables/customers.
Energy Trading Group
An energy group, selling mainly into Europe, desired a receivables purchase facility to discount names, where they had increased sales and concentration.
Clothing company
Rather than waiting 90 days until payment was made, the company wanted to pay suppliers on the day that the title to goods transferred to them, meaning it could expand its range of suppliers and receive supplier discounts.
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Exporting to Belgium
Belgium Country Profile
Official Name (Local Language) Royaume de Belgique; Koninkrijk Belgie
Capital Brussels
Population 11,409,077
Currency Euro
GDP $470.2 billion
Languages Euro
Phone Dial In 32
Belgium Imports Profile
Imports ($m USD) 406,412
Number of Imports Products 4,511
Number of Imports Partners 223
Belgium Economic Statistics
Government Website | https://www.belgium.be/en |
| Sovereign Ratings | https://countryeconomy.com/ratings/belgium |
| Central Bank | Nationale Bank van Belgie – Banque Nationale de Belgique |
| Currency USD Exchange Rate | 0.9214 |
| Unemployment Rate | 8.4% |
| Population below poverty line | 15.1% |
| Inflation Rate | 1.6% |
| Prime Lending Rate | 0.25% |
| GDP | $470.2 billion |
| GDP Pro Capita (PPP) | $44,900 |
| Currency Name | Euro |
| Currency Code | EUR |
| World Bank Classification | Upper Middle Income |
| Competitive Industrial Performance | 17/138 |
| Corruption Perceptions Index | 16/180 |
| Ease of Doing Business | 45/190 |
| Enabling Trade Index | 10/136 |
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Belgium is a country located in western Europe.
It is divided into three regions (Brussels-Capital Region, Flanders, and Wallonia) and three primary language groups (Dutch, French, and German).
Belgium is considered a small, open economy, holding over 11.5 million inhabitants and a GDP per capita of $44,500.
With English being a widely spoken language, low barriers to market entry and the presence of large international organisations such as the European Union (EU) and North Atlantic Treaty Organisation (NATO), it is no surprise how deeply involved Belgium is with international trade.
Its 2019 import flows exceeded $426 billion, with imports primarily coming from the Netherlands, Germany, France, USA, and Ireland.
Exporting to Belgium: What is trade finance?
Belgium is a major importer of raw materials, machinery, chemicals, pharmaceuticals, foodstuffs, oil products and transportation equipment.
The main imports are refined petroleum (around $33B), cars (around $28B), packaged medicaments (around $24B), crude petroleum (around $24B) and petroleum gas (around $18B).
The import partners are the Netherlands at around 20%, Germany at around 14%, France at around 10%, the US at around 6%, the UK at 5.5% and Ireland at around 4%.
It has a strategic geographic location, an open economy and is an early adopter of new technologies with an excellent transport network.
Chart Showing GDP Growth Compared to rest of world
GDP Composition for Belgium
Agriculture
0.6%
Sugar beets, fresh vegetables, fruits, grain, tobacco; beef, veal, pork, milk
Industry
21.8%
Engineering and metal products, motor vehicle assembly, transportation equipment, scientific instruments, processed food and beverages, chemicals, pharmaceuticals, base metals, textiles, glass, petroleum
Services
77.6%
Map
Top 5 Imports Partners
| Country | Trade | % Partner Share |
| Netherlands | 56,265 | 17.20 |
| Germany | 56,265 | 13.84 |
| France | 38,535 | 9.48 |
| United States | 29,208 | 7.19 |
| United Kingdom | 19,638 | 4.83 |
Top 5 Imports Products
| Export Product | Number |
| Petroleum oils, etc, (excl. crude); preparation | 9.0% |
| Other medicaments of mixed or unmixed products, | 4.8% |
| Petroleum oils and oils obtained from bituminou | 4.6% |
| Automobiles with diesel engine displacing more | 3.8% |
| Natural gas in gaseous state | 3.4% |
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