2022
Flag  
GDP
$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP
$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH
16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC 
$106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH
3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC
$49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH
11%CURRENT US$
Rnk 112 / 186

About

Norway-Belgium Trade: In 2022, Norway exported $20.3B to Belgium. The main products that Norway exported to Belgium were Petroleum Gas ($18.8B), Refined Petroleum ($529M), and Acyclic Hydrocarbons ($154M). Over the past 5 years the exports of Norway to Belgium have increased at an annualized rate of 33.6%, from $4.77B in 2017 to $20.3B in 2022.

In 2009, Norway exported services to Belgium worth $1.53B, with Other business services ($753M), Transportation ($549M), and Computer and information services ($79.8M) being the largest in terms of value.

Belgium-Norway Trade: In 2022, Belgium exported $2.25B to Norway. The main products that Belgium exported to Norway were Cars ($782M), Halogens ($95M), and Vaccines, blood, antisera, toxins and cultures ($90.3M). Over the past 5 years the exports of Belgium to Norway have increased at an annualized rate of 11.1%,  from $1.33B in 2017 to $2.25B in 2022.

In 2020, Belgium exported services to Norway worth $509M, with Other business services ($211M), Transportation ($172M), and Insurance services ($46.8M) being the largest in terms of value.

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). 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, Norway exported $20.3B to Belgium. The main products exported from Norway to Belgium were Petroleum Gas ($18.8B), Refined Petroleum ($529M), and Acyclic Hydrocarbons ($154M). During the last 5 years the exports of Norway to Belgium have increased at an annualized rate of 33.6%, from $4.77B in 2017 to $20.3B in 2022.

In 2017, Belgium exported $2.25B to Norway. The main products exported from Belgium to Norway were Cars ($782M), Halogens ($95M), and Vaccines, blood, antisera, toxins and cultures ($90.3M). During the last 5 years the exports of Belgium to Norway have increased at an annualized rate of 11.1%, from $1.33B in 2022 to $2.25B in 2017.

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

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

Market Competitiveness

Color
Norway
Top Destination
Germany$78.1B
Belgium
Top Destination
Germany$91.9B

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

In 2022, countries that imported more from Norway than Belgium included United Kingdom ($59.1B), Sweden ($17.7B), and Finland ($6.36B).

In 2022, countries that imported more from Belgium than Norway included Netherlands ($65.7B), France ($71.1B), and United States ($29B).

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

Comparative Advantage Norway - Belgium

Flow
Scale

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

During 2022, Norway had a large net trade with Belgium in the exports of Mineral Products ($19.5B), Chemical Products ($231M), and Metals ($182M).

During 2017, Belgium had a large net trade with Norway in the exports of Transportation ($892M), Chemical Products ($453M), and Machines ($181M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Belgium+$205MRefined Petroleum
Top Product Potential Belgium Norway+$97.7MRefined Petroleum

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

In 2009, Norway exported services to Belgium worth $1.53B, with Other business services ($753M), Transportation ($549M), and Computer and information services ($79.8M) being the largest in terms of value.

In 2020, Belgium exported services to Norway worth $509M, with Other business services ($211M), Transportation ($172M), and Insurance services ($46.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Norway (Flag) to Belgium (Flag) (2009)

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with