Vietnam (VNM) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Vietnam-Belgium Trade: In 2022, Vietnam exported $3.19B to Belgium. The main products that Vietnam exported to Belgium were Textile Footwear ($637M), Leather Footwear ($383M), and Coffee ($257M). Over the past 5 years the exports of Vietnam to Belgium have increased at an annualized rate of 11.7%, from $1.83B in 2017 to $3.19B in 2022.

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

Belgium-Vietnam Trade: In 2022, Belgium exported $2.13B to Vietnam. The main products that Belgium exported to Vietnam were Packaged Medicaments ($1.44B), Vaccines, blood, antisera, toxins and cultures ($217M), and Diamonds ($112M). Over the past 5 years the exports of Belgium to Vietnam have increased at an annualized rate of 32.4%, from $524M in 2017 to $2.13B in 2022.

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

Comparison: In 2022, Vietnam ranked 55 in the Economic Complexity Index (ECI 0.2), and 19 in total exports ($399B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Vietnam exported $3.19B to Belgium. The main products exported from Vietnam to Belgium were Textile Footwear ($637M), Leather Footwear ($383M), and Coffee ($257M). During the last 5 years the exports of Vietnam to Belgium have increased at an annualized rate of 11.7%, from $1.83B in 2017 to $3.19B in 2022.

In 2017, Belgium exported $2.13B to Vietnam. The main products exported from Belgium to Vietnam were Packaged Medicaments ($1.44B), Vaccines, blood, antisera, toxins and cultures ($217M), and Diamonds ($112M). During the last 5 years the exports of Belgium to Vietnam have increased at an annualized rate of 32.4%, from $524M in 2022 to $2.13B in 2017.

Exports from Vietnam () to Belgium () (2022)

Exports from Belgium () to Vietnam () (2022)

Latest Data

Trade between Vietnam () and Belgium ()

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Vietnam
Top DestinationUnited States$117B

Belgium
Top DestinationGermany$91.9B

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

In 2022, countries that imported more from Vietnam than Belgium included United States ($117B), China ($58.7B), and South Korea ($25.2B).

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

Difference in imports from Belgium () and Vietnam () (2022)

Comparative Advantage Vietnam - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Vietnam had a large net trade with Belgium in the exports of Footwear and Headwear ($1.23B), Textiles ($479M), and Metals ($363M).

During 2017, Belgium had a large net trade with Vietnam in the exports of Chemical Products ($1.71B), Precious Metals ($112M), and Machines ($59.1M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Vietnam Belgium+$32.8MOther Furniture

Top Product Potential Belgium Vietnam+$46MVaccines, blood, antisera, toxins and cultures

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Vietnam () to Belgium () (2022)

Exports from Belgium () to Vietnam () (2022)

Latest Data

Trade between Vietnam () and Belgium ()

Belgium Exports

Market Competitiveness

Difference in imports from Belgium () and Vietnam () (2022)

Comparative Advantage Vietnam - Belgium

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Vietnam () and Belgium () (2022)

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