2022
Flag  
GDP
$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH
16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP
$72.8BCURRENT US$
Rnk 77 / 186
2012-2022
Flag
GDP GROWTH
76.5%CURRENT US$
Rnk 26 / 186
2022
Flag
GDP PC 
$49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH
11%CURRENT US$
Rnk 112 / 186
2022
Flag
GDP PC
$2,176CURRENT US$
Rnk 147 / 186
2012-2022
Flag
GDP PC GROWTH
41.6%CURRENT US$
Rnk 46 / 186

About

Belgium-Ghana Trade: In 2022, Belgium exported $679M to Ghana. The main products that Belgium exported to Ghana were Refined Petroleum ($447M), Delivery Trucks ($20.3M), and Vaccines, blood, antisera, toxins and cultures ($19M). Over the past 5 years the exports of Belgium to Ghana have increased at an annualized rate of 16.5%, from $317M in 2017 to $679M in 2022.

In 2022, Belgium did not export any services to Ghana.

Ghana-Belgium Trade: In 2022, Ghana exported $106M to Belgium. The main products that Ghana exported to Belgium were Cocoa Beans ($49.1M), Other Pure Vegetable Oils ($27.4M), and Cocoa Paste ($5.98M). Over the past 5 years the exports of Ghana to Belgium have decreased at an annualized rate of 7.46%,  from $157M in 2017 to $106M in 2022.

In 2022, Ghana did not export any services to Belgium.

Comparison: In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Ghana ranked 122 in the Economic Complexity Index (ECI -1.32), and 79 in total exports ($20B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $679M to Ghana. The main products exported from Belgium to Ghana were Refined Petroleum ($447M), Delivery Trucks ($20.3M), and Vaccines, blood, antisera, toxins and cultures ($19M). During the last 5 years the exports of Belgium to Ghana have increased at an annualized rate of 16.5%, from $317M in 2017 to $679M in 2022.

In 2017, Ghana exported $106M to Belgium. The main products exported from Ghana to Belgium were Cocoa Beans ($49.1M), Other Pure Vegetable Oils ($27.4M), and Cocoa Paste ($5.98M). During the last 5 years the exports of Ghana to Belgium have decreased at an annualized rate of 7.46%, from $157M in 2022 to $106M in 2017.

Exports from Belgium (Flag) to Ghana (Flag) (2022)

Exports from Ghana (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top Destination
Germany$91.9B
Ghana
Top Destination
United Arab Emirates$4.72B

This map shows whether countries import more from Belgium or Ghana. Each country is colored based on the difference in imports they receive from Belgium and Ghana or the difference in the growth in imports.

In 2022, countries that imported more from Belgium than Ghana included Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

In 2022, countries that imported more from Ghana than Belgium included United Arab Emirates ($4.72B) and Burkina Faso ($285M).

Difference in imports from Ghana (Flag) and Belgium (Flag) (2022)

Comparative Advantage Belgium - Ghana

Flow
Scale

This chart compares trade between Belgium and Ghana by product, considering products traded by both, Belgium and Ghana.

During 2022, Belgium had a large net trade with Ghana in the exports of Mineral Products ($447M), Chemical Products ($72.1M), and Transportation ($40M).

During 2017, Ghana had a large net trade with Belgium in the exports of Foodstuffs ($62.5M), Animal and Vegetable Bi-Products ($27.7M), and Wood Products ($4.84M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Ghana+$10.7MVaccines, blood, antisera, toxins and cultures
Top Product Potential Ghana Belgium+$4.13MCocoa Paste

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Belgium and Ghana. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Ghana. Similarly, a dot/product with the flag of Ghana indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Ghana (Flag) (2022)

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