Imports/Exports in Belgium
The Belgian economy is particularly open, foreign trade representing more than 180% of GDP. In addition to being an export champion, Belgium also plays an important role as a transit and distribution center for the other countries of the European Union.
Belgium's trade deficit, which was structurally in surplus but had been gradually worsening since 2002, reached a colossal deficit under the effects of the global recession. It has somewhat recovered with the resumption of exports.
Belgian international trade is primarily done within the European Union (nearly 80% of exports and imports). Its main trading partners are the Netherlands, Germany, France, Great Britain and the United States.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||351,635||411,558||466,307||351,944||390,156|
|Exports of Goods (million USD)||366,745||430,952||471,840||369,845||411,240|
|Imports of Services (million USD)||52,313||68,418||82,662||72,823||75,455|
|Exports of Services (million USD)||57,143||72,207||85,187||79,473||80,813|
|Imports of Goods and Services (Annual % Change)||4.6||4.7||3.0||-11.1||-|
|Exports of Goods and Services (Annual % Change)||2.6||3.8||-||-||-|
|Imports of Goods and Services (in % of GDP)||78.5||79.5||84.8||70.2||-|
|Exports of Goods and Services (in % of GDP)||82.3||83.4||85.7||73.0||-|
|Trade Balance (million USD)||3,357||615||-16,347||-2,939||-|
|Trade Balance (Including Service) (million USD)||9,623||8,776||-10,813||-||-|
|Foreign Trade (in % of GDP)||160.8||162.9||170.5||143.2||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|Other partnersClose extended list||40.2%|
(% of Imports)
|Other partnersClose extended list||42.6%|
Exchange Rate System
- Exchange Rate Regime
- Part of EURO zone
- Level of Currency Instability
- Euro zone: floating exchange rate system.
|Euro (EUR) - Average Annual Exchange Rate For 1 USD||0.80||0.80||0.73||0.68||0.72|
Source: World Bank
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