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Pricing

2022
Flag → Flag
Exports $125MRnk 107 / 222
2022
Flag → Flag
Top Product $32.5MVaccines, blood, antisera, toxins and cultures
2022
Flag → Flag
Exports $36.6MRnk 20 / 157
2022
Flag → Flag
Top Product $10.6MRaw Nickel
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.08Rnk 115 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$15BCURRENT US$
Rnk 131 / 186
2012-2022
Flag
GDP GROWTH29.2%CURRENT US$
Rnk 104 / 186
2022
Flag
GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
Flag
GDP PC$505CURRENT US$
Rnk 182 / 186
2012-2022
Flag
GDP PC GROWTH0.17%CURRENT US$
Rnk 139 / 186

About

Belgium-Madagascar Trade: In 2022, Belgium exported $125M to Madagascar. The main products that Belgium exported to Madagascar were Vaccines, blood, antisera, toxins and cultures ($32.5M), Delivery Trucks ($11.8M), and Cars ($8.26M). Over the past 5 years the exports of Belgium to Madagascar have increased at an annualized rate of 16.9%, from $57M in 2017 to $125M in 2022.

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

Madagascar-Belgium Trade: In 2022, Madagascar exported $36.6M to Belgium. The main products that Madagascar exported to Belgium were Raw Nickel ($10.6M), Vanilla ($6.24M), and Cocoa Beans ($3.01M). Over the past 5 years the exports of Madagascar to Belgium have increased at an annualized rate of 8.49%,  from $24.3M in 2017 to $36.6M in 2022.

In 2022, Madagascar 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, Madagascar ranked 115 in the Economic Complexity Index (ECI -1.08), and 133 in total exports ($4.25B).

Latest Trends

April, 2024

About

Overview In April 2024, Belgium exported €3.73M and imported €950k from Madagascar, resulting in a positive trade balance of €2.78M. Between April 2023 and April 2024 the exports of Belgium have decreased by €-18.7M (-83.4%) from €22.5M to €3.73M, while imports increased by €122k (14.8%) from €827k to €950k.

Trade In April 2024, the top exports of Belgium to Madagascar were Machinery, mechanical appliances, & parts (€1.03M), Cars, tractors, trucks & parts thereof. (€227k), Pharmaceutical products (€133k), Food residues & wastes; animal fodder (€83.7k), and Used clothes & textile articles (€74.1k). In April 2024 the top imports of Belgium from Madagascar were Coffee, tea, mate & spices (€821k), Salt, sulphur, cement, lime, stone, &... (€377k), Perfumery & cosmetics (€230k), Cocoa & cocoa preparations (€230k), and Preparations of vegetables, fruit, nuts or... (€134k).

Growth In April 2024, the decrease in Belgium's year-by-year exports to Madagascar was explained primarily by an decrease in product exports in Cars, tractors, trucks & parts thereof. (€-542k or -70.4%), Paper articles (€-32k or -99%), and Used clothes & textile articles (€-23.7k or -24.2%). In April 2024, the increase in Belgium's year-by-year imports  from Madagascar was explained primarily by an increase in product imports  in Coffee, tea, mate & spices (€802k or 4.27k%), Salt, sulphur, cement, lime, stone, &... (€272k or 261%), and Preparations of vegetables, fruit, nuts or... (€130k or 2.73k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (April 2023 - April 2024)€-18.7M(-83.4%)
IMPORT GROWTH (April 2023 - April 2024)€122k(14.8%)

This section shows exports and imports data at subnational level for Belgium. Click any date in the line plot or any product to explore the exports or imports behavior of Belgium over time.

To check Madagascar and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Madagascar and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $125M to Madagascar. The main products exported from Belgium to Madagascar were Vaccines, blood, antisera, toxins and cultures ($32.5M), Delivery Trucks ($11.8M), and Cars ($8.26M). During the last 5 years the exports of Belgium to Madagascar have increased at an annualized rate of 16.9%, from $57M in 2017 to $125M in 2022.

In 2017, Madagascar exported $36.6M to Belgium. The main products exported from Madagascar to Belgium were Raw Nickel ($10.6M), Vanilla ($6.24M), and Cocoa Beans ($3.01M). During the last 5 years the exports of Madagascar to Belgium have increased at an annualized rate of 8.49%, from $24.3M in 2022 to $36.6M in 2017.

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

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

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Madagascar
Top DestinationUnited States$756M

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

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

In 2022, countries that imported more from Madagascar than Belgium included Comoros ($7.03M) and Turks and Caicos Islands ($322k).

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

Comparative Advantage Belgium - Madagascar

Flow
Scale

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

During 2022, Belgium had a large net trade with Madagascar in the exports of Chemical Products ($43.6M), Transportation ($27.3M), and Machines ($22.4M).

During 2017, Madagascar had a large net trade with Belgium in the exports of Vegetable Products ($11M), Metals ($10.9M), and Foodstuffs ($4.61M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Madagascar+$4.64MRefined Petroleum
Top Product Potential Madagascar Belgium+$7.29MRaw Nickel

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 Madagascar. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Madagascar. Similarly, a dot/product with the flag of Madagascar indicates it has a comparative advantage over Belgium.

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

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