2022
Flag  
GDP
$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
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GDP GROWTH
-3.67%CURRENT US$
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2022
Flag
 GDP
$579BCURRENT US$
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2012-2022
Flag
GDP GROWTH
16.6%CURRENT US$
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2022
Flag
GDP PC 
$34,158CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
-2.55%CURRENT US$
Rnk 148 / 186
2022
Flag
GDP PC
$49,583CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
11%CURRENT US$
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About

Italy-Belgium Trade: In 2022, Italy exported $23.2B to Belgium. The main products that Italy exported to Belgium were Packaged Medicaments ($8.88B), Vaccines, blood, antisera, toxins and cultures ($1.4B), and Cars ($577M). Over the past 5 years the exports of Italy to Belgium have increased at an annualized rate of 9.75%, from $14.6B in 2017 to $23.2B in 2022.

In 2020, Italy exported services to Belgium worth $2.19B, with Other business services ($1.21B), Travel ($640M), and Computer and information services ($140M) being the largest in terms of value.

Belgium-Italy Trade: In 2022, Belgium exported $22.5B to Italy. The main products that Belgium exported to Italy were Packaged Medicaments ($2.9B), Vaccines, blood, antisera, toxins and cultures ($2.08B), and Cars ($740M). Over the past 5 years the exports of Belgium to Italy have increased at an annualized rate of 4.92%,  from $17.7B in 2017 to $22.5B in 2022.

In 2020, Belgium exported services to Italy worth $2.83B, with Other business services ($1.04B), Transportation ($716M), and Computer and information services ($545M) being the largest in terms of value.

Comparison: In 2022,  Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Italy exported $23.2B to Belgium. The main products exported from Italy to Belgium were Packaged Medicaments ($8.88B), Vaccines, blood, antisera, toxins and cultures ($1.4B), and Cars ($577M). During the last 5 years the exports of Italy to Belgium have increased at an annualized rate of 9.75%, from $14.6B in 2017 to $23.2B in 2022.

In 2017, Belgium exported $22.5B to Italy. The main products exported from Belgium to Italy were Packaged Medicaments ($2.9B), Vaccines, blood, antisera, toxins and cultures ($2.08B), and Cars ($740M). During the last 5 years the exports of Belgium to Italy have increased at an annualized rate of 4.92%, from $17.7B in 2022 to $22.5B in 2017.

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

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

Market Competitiveness

Color
Italy
Top Destination
Germany$78.5B
Belgium
Top Destination
Germany$91.9B

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

In 2022, countries that imported more from Italy than Belgium included United States ($68.2B), Switzerland ($27.8B), and Spain ($32.8B).

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

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

Comparative Advantage Italy - Belgium

Flow
Scale

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

During 2022, Italy had a large net trade with Belgium in the exports of Chemical Products ($11.7B), Machines ($2.82B), and Transportation ($1.42B).

During 2017, Belgium had a large net trade with Italy in the exports of Chemical Products ($8.64B), Plastics and Rubbers ($2.62B), and Machines ($2.54B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Italy Belgium+$238MCars
Top Product Potential Belgium Italy+$327MCars

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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Bilateral Service Trade

In 2020, Italy exported services to Belgium worth $2.19B, with Other business services ($1.21B), Travel ($640M), and Computer and information services ($140M) being the largest in terms of value.

In 2020, Belgium exported services to Italy worth $2.83B, with Other business services ($1.04B), Transportation ($716M), and Computer and information services ($545M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Italy (Flag) to Belgium (Flag) (2020)

Services Exports from Belgium (Flag) to Italy (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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