2022
Flag  
GDP
$252BCURRENT US$
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2012-2022
Flag
GDP GROWTH
16.5%CURRENT US$
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2022
Flag
 GDP
$579BCURRENT US$
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2012-2022
Flag
GDP GROWTH
16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC 
$24,275CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
18%CURRENT US$
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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

Portugal-Belgium Trade: In 2022, Portugal exported $1.93B to Belgium. The main products that Portugal exported to Belgium were Cars ($92.5M), Amino-resins ($90.1M), and Packaged Medicaments ($66.3M). Over the past 5 years the exports of Portugal to Belgium have increased at an annualized rate of 6.1%, from $1.43B in 2017 to $1.93B in 2022.

In 2020, Portugal exported services to Belgium worth $764M, with Other business services ($234M), Travel ($230M), and Transportation ($142M) being the largest in terms of value.

Belgium-Portugal Trade: In 2022, Belgium exported $3.17B to Portugal. The main products that Belgium exported to Portugal were Cars ($373M), Vaccines, blood, antisera, toxins and cultures ($325M), and Refined Petroleum ($204M). Over the past 5 years the exports of Belgium to Portugal have increased at an annualized rate of 9.72%,  from $1.99B in 2017 to $3.17B in 2022.

In 2020, Belgium exported services to Portugal worth $556M, with Travel ($188M), Other business services ($122M), and Transportation ($93.7M) being the largest in terms of value.

Comparison: In 2022,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B). 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, Portugal exported $1.93B to Belgium. The main products exported from Portugal to Belgium were Cars ($92.5M), Amino-resins ($90.1M), and Packaged Medicaments ($66.3M). During the last 5 years the exports of Portugal to Belgium have increased at an annualized rate of 6.1%, from $1.43B in 2017 to $1.93B in 2022.

In 2017, Belgium exported $3.17B to Portugal. The main products exported from Belgium to Portugal were Cars ($373M), Vaccines, blood, antisera, toxins and cultures ($325M), and Refined Petroleum ($204M). During the last 5 years the exports of Belgium to Portugal have increased at an annualized rate of 9.72%, from $1.99B in 2022 to $3.17B in 2017.

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

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

Market Competitiveness

Color
Portugal
Top Destination
Spain$20.5B
Belgium
Top Destination
Germany$91.9B

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

In 2022, countries that imported more from Portugal than Belgium included Spain ($20.5B), Angola ($1.59B), and Gibraltar ($561M).

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

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

Comparative Advantage Portugal - Belgium

Flow
Scale

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

During 2022, Portugal had a large net trade with Belgium in the exports of Machines ($319M), Chemical Products ($232M), and Plastics and Rubbers ($232M).

During 2017, Belgium had a large net trade with Portugal in the exports of Chemical Products ($790M), Transportation ($555M), and Machines ($352M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Portugal Belgium+$74.7MCars
Top Product Potential Belgium Portugal+$69.6MRefined 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.

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Bilateral Service Trade

In 2020, Portugal exported services to Belgium worth $764M, with Other business services ($234M), Travel ($230M), and Transportation ($142M) being the largest in terms of value.

In 2020, Belgium exported services to Portugal worth $556M, with Travel ($188M), Other business services ($122M), and Transportation ($93.7M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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