Importing from Belgium

Belgium Import Guide | Trade Finance Global

Importing from Belgium

Belgium is located on the continent of Europe and stands at rank eighteen for imports; Brussels is the capital. Belgium is a major importer of raw materials, machinery, chemicals, pharmaceuticals, foodstuffs, oil products and transportation equipment. The average import value for Belgium is $310B.

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 Netherlands at around 20%, Germany at around 14%, France at around 10%, the US at around 6%, UK at 5.5% and Ireland at around 4%. The main imports are machinery, equipment, raw diamonds, chemicals, pharmaceuticals, transportation equipment and oil products.

Imports into Belgium averaged around 19300 EUR Million from 1993 until 2015, reaching an all time high of 31559.90 EUR Million in March of 2012 and a record low of 6975.70 EUR Million in July of 1993

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 Exports Profile

Exports ($m USD)

429,98

Number of Export Products

4,466

Number of Export Partners

230

Top 5 export partners

Country

Trade

% Partner Share

Germany

71,403

16.61

France

64,007

14.89

Netherlands

51,629

12.01

United Kingdom

36,217

8.42

Italy

21,097

4.91

Top 5 Export Products at HS 6 digit level

Export Product

Number

Petroleum oils, etc, (excl. crude); preparation

7.7%

Other medicaments of mixed or unmixed products,

6.2%

Automobiles with diesel engine displacing more

5.9%

Diamonds non-industrial unworked or simply sawn

3.5%

Human and animal blood; microbial cultures; tox

3.3%

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%

Importing from Belgium: What is trade finance?

Belgium is located on the continent of Europe and stands at rank eighteen for imports; Brussels is the capital. Belgium is a major importer of raw materials, machinery, chemicals, pharmaceuticals, foodstuffs, oil products and transportation equipment. The average import value for Belgium is $310B.

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 Netherlands at around 20%, Germany at around 14%, France at around 10%, the US at around 6%, UK at 5.5% and Ireland at around 4%. The main imports are machinery, equipment, raw diamonds, chemicals, pharmaceuticals, transportation equipment and oil products.

Imports into Belgium averaged around 19300 EUR Million from 1993 until 2015, reaching an all time high of 31559.90 EUR Million in March of 2012 and a record low of 6975.70 EUR Million in July of 1993.

Information

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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

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

Currency in Belgium

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