Belgium is ranked as the 11th largest export economy in the world and enjoys a positive trade balance of $23.9 billion after deducting $371 billion worth of annual imports from its export total of $394 billion.
About 80% of Belgium’s trade is with fellow EU member states. The major export commodity in Belgium is the automobile, medicament mixtures put in dosage, and not mounted or set diamonds. Belgium’s largest exports markets are European Union and United Sates.
Belgium imports mainly machinery and equipment, chemicals, diamonds, pharmaceuticals, foodstuffs, transportation equipment and oil products. It major import partners are: European Union members (Germany, Netherlands, France, UK, Ireland) , United States and China
Imports in Belgium averaged 20740.42 EUR Million from 1993 until 2019, reaching an all time high of 34377.50 EUR Million in March of 2017 and a record low of 6975.70 EUR Million in July of 1993.
Imports in Belgium is expected to be 31150.00 EUR Million by the end of this quarter. Looking forward, we estimate Imports in Belgium to stand at 33500.00 in 12 months time. In the long-term, the Belgium Imports is projected to trend around 34100.00 EUR Million in 2020.
Exports in Belgium decreased to 32447.20 EUR Million in May from 33516.80 EUR Million in April of 2019. Exports in Belgium averaged 21813.37 EUR Million from 1993 until 2019, reaching an all time high of 36463.70 EUR Million in March of 2017 and a record low of 7331.30 EUR Million in August of 1993.
Exports in Belgium is expected to be 34600.00 EUR Million by the end of this quarters. Looking forward, we estimate Exports in Belgium to stand at 33500.00 in 12 months time. In the long-term, the Belgium Exports is projected to trend around 34000.00 EUR Million in 2020.
