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Exporting to Belgium
Belgium Export Guide | Trade Finance Global
Exporting to Belgium
Belgium is the thirteenth largest export economy and they export over $380B and import around $470B, and so there is a relatively large negative trade balance. Belgium is a small and multicultural country. English is widely spoken with low barriers to market entry and there are large international organisations, such as the European Union (EU) and North Atlantic Treaty Organisation (NATO). Belgium has a strategic geographic location, an open economy; it is an early adopter of new technologies with an excellent transport network.
The main export destinations of Belgium-Luxembourg are Germany (around $57B), France ($55B), the Netherlands ($53B), the United Kingdom (around $31B) and Italy (around $20B). The main import countries of origin are the Netherlands (around $93B), Germany (above $65B), France (above $50B), the United States (around $34B) and the United Kingdom ($25B). The products that are the top exports of Belgium-Luxembourg are cars (around $23B), refined petroleum (around $41B), packaged medicaments (around $19B), petroleum gas (around $16B) and diamonds (around $15B).
Belgium Country Profile
| Official Name (Local Language) | Royaume de Belgique; Koninkrijk Belgie | Capital | Brussels | Population | 11,409,077 | Currency | Euro | GDP | $470.2 billion | Languages | Euro | Telephone Dial In | 32 |
Belgium Imports Profile
Imports ($m USD)
406,412
Number of Import Products
4,511
Number of Import Partners
223
Top 5 import partners
Country
Trade
%
Netherlands
69,905
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 Import Products at HS 6 digit level
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%
Chart Showing GDP Growth Compared to rest of world
GDP Composition for Belgium
Agriculture
%
Product list
0.6%
Sugar beets, fresh vegetables, fruits, grain, tobacco; beef, veal, pork, milk
Industry
%
Industry list
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
%
Services list
77.6%
NA
Exporting to Belgium: What is trade finance?
Belgium is the thirteenth largest export economy and they export over $380B and import around $470B, and so there is a relatively large negative trade balance. Belgium is a small and multicultural country. English is widely spoken with low barriers to market entry and there are large international organisations, such as the European Union (EU) and North Atlantic Treaty Organisation (NATO). Belgium has a strategic geographic location, an open economy; it is an early adopter of new technologies with an excellent transport network.
The main export destinations of Belgium-Luxembourg are Germany (around $57B), France ($55B), the Netherlands ($53B), the United Kingdom (around $31B) and Italy (around $20B). The main import countries of origin are the Netherlands (around $93B), Germany (above $65B), France (above $50B), the United States (around $34B) and the United Kingdom ($25B). The products that are the top exports of Belgium-Luxembourg are cars (around $23B), refined petroleum (around $41B), packaged medicaments (around $19B), petroleum gas (around $16B) and diamonds (around $15B).
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
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
High 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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