Belgium exported US$635.5 billion worth of goods around the globe in 2022. That dollar metric results from a 35.6% gain compared to $468.6 billion in 2018.
From 2021 to 2022, the total value of Belgian exports rose 15.7% from $549.5 billion.
Belgium’s top 3 trading partners are Germany, Netherlands and France. Collectively, that trio of nearby importers bought almost half (48.2%) of overall Belgian exported goods in 2022.
Applying a continental lens, over three-quarters (76.4%) of Belgium’s exports by value was delivered to fellow European countries while 10.3% was sold to importers in Asia. Belgium shipped another 7% worth of products to North America.
Smaller percentages went to buyers in Africa (4.1%), Latin America (1.7%) excluding Mexico but including the Caribbean, then Oceania (0.4%) led by Australia and New Zealand.
Belgium’s Top Trading Partners
Below is a list showcasing 15 of Belgium’s top trading partners. These are countries that imported the most Belgian shipments by dollar value during 2022. Also shown is each import country’s percentage of total Belgian exports.
- Germany: US$134.9 billion (21.2% of Belgium’s total exports)
- Netherlands: $87.6 billion (13.8%)
- France: $83.5 billion (13.1%)
- United States of America: $37.2 billion (5.9%)
- United Kingdom: $32.8 billion (5.2%)
- Italy: $27.8 billion (4.4%)
- Spain: $18 billion (2.8%)
- Poland: $14.7 billion (2.3%)
- Japan: $11 billion (1.7%)
- Sweden: $10.3 billion (1.6%)
- Luxembourg: $9.4 billion (1.5%)
- mainland China: $8.2 billion (1.3%)
- Nigeria: $8 billion (1.3%)
- Türkiye: $7.6 billion (1.2%)
- India: $7.4 billion (1.2%)
More than three-quarters (78.4%) of Belgian exports in 2022 was delivered to the above 15 trade partners.
Mainland China was the only top importers that decreased its purchases from Belgium from 2021 to 2022, down in value by -13.7%.
Among the other 14 countries, gains ranged from a minimum of 1.7% for India up to an 8,902% surge for the United Kingdom.
Countries Causing Worst Trade Deficits
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Belgium incurred the highest trade deficits with the following countries.
- mainland China: -US$28.9 billion (country-specific trade deficit in 2022)
- Netherlands: -$26.9 billion
- Ireland: -$21.1 billion
- Norway: -$14.2 billion
- Russia: -$9.8 billion
- Spain: -$7.3 billion
- Qatar: -$6 billion
- United Kingdom: -$3.5 billion
- Switzerland: -$3 billion
- Singapore: -$2.3 billion
Among Belgium’s trading partners that cause the greatest negative trade balances, Belgian deficits with Spain (up 2,140%), Qatar (up 413.6%) and Norway (up 147.5%) grew at the fastest pace from 2021 to 2022.
In addition, Belgium reversed a $317.2 million surplus trading with the United Kingdom to incurring the multi-billion dollar trade deficit listed above.
These cashflow deficiencies clearly indicate Belgium’s competitive disadvantages with the above countries, but also represent key opportunities for Belgium to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Biggest Trade Surpluses
Belgium posted a total US$12.3 billion trade surplus for 2022, reducing by -27.5% from $17 billion in black ink one year earlier.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Belgium incurred the highest trade surpluses with the following countries.
- Germany: US$62.7 billion (country-specific trade surplus in 2022)
- France: $26.2 billion
- Nigeria: $7.4 billion
- Luxembourg: $7.3 billion
- Poland: $6.1 billion
- Italy: $3.9 billion
- Denmark: $2.6 billion
- United Arab Emirates: $2.5 billion
- Austria: $2.28 billion
- Greece: $2.28 billion
Among Belgium’s trading partners that generate the greatest positive trade balances, Belgian surpluses with Nigeria (up 155.4%), Germany (up 143.4%) and Austria (up 34.1%) grew at the fastest pace from 2021 to 2022.
These positive cashflow streams clearly indicate Belgium’s competitive advantages with the above countries, but also represent key opportunities for Belgium to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Belgian Trading Partners
Belgium placed 11 corporations among the Forbes Global 2000. Below is a sample of major Belgian export companies that Forbes ranked.
- Anheuser-Busch InBev (beverages)
- Belgacom (telecommunications services)
- Delhaize Group (food retail)
- Solvay (diversified chemicals)
- UCB (pharmaceuticals)
- Umicore (diversified metals, mining)
According to IMPORTERS.com listings for Belgian suppliers, the following are examples of companies that ship products from Belgium to importing customers around the globe. Shown within parenthesis are products that the Belgian business provides.
- ANS Trading (clothing, footwear)
- Aor Trading (alcoholic beverages)
- Biosport (food supplements, vitamins)
- Brussels Trading Company (heavy equipment)
- Lyobel (frozen herbs)
- Medinvents (soft tissue biopsy systems)
- Mskx Company (hunting arms)
- Raw Materials Recycling (paper, plastics)
- VD Management (fresh/frozen seafood)
- Webby’s International SA (educational toys, games)
See also Belgium’s Top 10 Imports, Belgium’s Top 10 Exports, Germany’s Top Trading Partners and France’s Top Trading Partners
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles, Central Intelligence Agency. Accessed on May 18, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 18, 2023
IMPORTERS.com The Online Market for G20 Importers, Belgium Import Export Directory. Accessed on May 18, 2023
International Trade Centre, Trade Map. Accessed on May 18, 2023
Investopedia, Net Exports Definition. Accessed on May 18, 2023
Wikipedia, List of Companies of Belgium. Accessed on May 18, 2023
