Belgium recorded a trade surplus of 1576 EUR Million in March of 2023. source: National Bank of Belgium

Balance of Trade in Belgium averaged 1099.40 EUR Million from 1993 until 2023, reaching an all time high of 3756.30 EUR Million in October of 2020 and a record low of -2270.20 EUR Million in August of 2022. This page provides - Belgium Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Belgium Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Balance of Trade in Belgium is expected to be 3150.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Belgium Balance of Trade

Calendar GMT Actual Previous Consensus TEForecast
2023-04-17 01:00 PM Feb €-20.3M €-492.9M
2023-05-15 01:00 PM Mar €1576M €741M € 1950M
2023-06-15 01:00 PM Apr €1576M €750.0M

Related Last Previous Unit Reference
Balance of Trade 1576.00 741.00 EUR Million Mar 2023
Current Account -728.00 -11845.00 EUR Million Dec 2022
Imports 46780.90 43823.00 EUR Million Mar 2023
Exports 48356.90 44564.00 EUR Million Mar 2023
Capital Flows 1103.00 -12357.00 EUR Million Dec 2022
Remittances 4412.00 4037.00 EUR Million Dec 2022
Foreign Direct Investment 2925.00 9792.00 EUR Million Dec 2022
External Debt 1318834.00 1365636.00 EUR Million Dec 2022

Belgium Balance of Trade
Foreign trade accounts for approximately 70 percent of the Belgium's economy. 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, not mounted or set diamonds. Belgium imports mainly machinery and equipment, chemicals, diamonds, pharmaceuticals, foodstuffs, transportation equipment and oil products.
Actual Previous Highest Lowest Dates Unit Frequency
1576.00 741.00 3756.30 -2270.20 1993 - 2023 EUR Million Monthly

News Stream
Belgium Trade Balance Swings to Deficit
Belgium recorded a trade deficit of EUR 20.3 million in February 2023, compared with a EUR 1,782.9 million surplus in the same month last year, a preliminary estimate showed. Exports were down 1.4 percent to a 13-month low of EUR 44.72 billion, as external demand weakened amid rising consumer prices and higher borrowing costs. Sales to non-EU countries tumbled 7.8 percent, while those to the EU rose 2.1 percent. Meanwhile, imports were up 2.7 percent to EUR 44.75 billion, but were still at their lowest level since February 2022. Purchases from the EU surged 5.8 percent, while those from third countries declined 1.9 percent.
Belgium Trade Account Turns to Surplus in December
Belgium's trade account switched to a surplus of EUR 1399.2 million in December 2022 from a deficit of EUR 211.9 million in the same month of the previous year. Imports dropped by 0.6 percent to EUR 44665.4 million, prompted by the reduction of purchases from the EU (-8.0 percent). Meanwhile, exports expanded by 3.0 percent to EUR 46064.6 million, amid higher sales to the EU (7.0 percent). On the other hand, shipments decreased to non-EU countries by 4.2 percent. For the entire 2022, Belgium's surplus shrank to EUR 11543.9 million, down by 36.6 percent from 2021's value, because of a sharp slowdown at the end of the year prompted by plunging energy costs and overall pressure on goods, the price of which is correlated with commodities.