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2022
Exports $4.92BWorld Rnk 21 / 226
Flag Rnk 14 / 96
2022
Destination $53.5M France
2021 - 2022
FASTEST GROWING MARKET $53.5MUnited States
2022
PRODUCT COMPLEXITY IN Iron or steel articles1.68Rnk 27 / 1025
2022
Imports $6.5BWorld Rnk 16 / 225
Flag Rnk 12 / 96
2022
Origin $78.8M Netherlands
2021 - 2022
FASTEST GROWING ORIGIN $78.8MItaly
2022
ECONOMIC COMPLEXITY of Belgium1.25Rnk 19 / 133

About

Exports In 2022, Belgium exported $4.92B in Iron or steel articles, making it the 21st largest exporter of Iron or steel articles in the world. At the same year, Iron or steel articles was the 14th most exported product in Belgium. The main destination of Iron or steel articles exports from Belgium are: France ($1.17B), Netherlands ($1.12B), Germany ($690M), United Kingdom ($274M), and United States ($138M).

The fastest growing export markets for Iron or steel articles of Belgium between 2021 and 2022 were United States ($53.5M), United Kingdom ($36.2M), and China ($19.7M).

Imports In 2022, Belgium imported $6.5B in Iron or steel articles, becoming the 16th largest importer of Iron or steel articles in the world. At the same year, Iron or steel articles was the 12th most imported product in Belgium. Belgium imports Iron or steel articles primarily from: Netherlands ($1.32B), Germany ($1.02B), China ($731M), France ($593M), and Italy ($552M).

The fastest growing import markets in Iron or steel articles for Belgium between 2021 and 2022 were Italy ($78.8M), France ($70.3M), and Spain ($44M).

COMPANIES In 2023, leading companies such as Mercedes-Benz (76), ABB Motors and Mechanical (54), and Rolls-Royce (42) were at the forefront of shipping Iron or steel articles from Belgium to the United States.

Latest Trends

May 2024

About

Overview In May 2024 Belgium's Iron or steel articles exports accounted up to €21.8M and imports accounted up to €42.8M, resulting in a negative trade balance of €20.9M. Between May 2023 and May 2024 the exports of Belgium's   Iron or steel articles have decreased by €-338M (-93.9%) from €360M to €21.8M, while imports decreased by €-347M (-89%) from €390M to €42.8M.

Destinations In May 2024, Iron or steel articles were exported mostly to Switzerland (€4.5M), Canada (€2.68M), China (€2.17M), Czechia (€2.15M), and United Arab Emirates (€1.68M), and were imported mostly from China (€25.6M), Czechia (€9.03M), Austria (€5.19M), Bulgaria (€918k), and Switzerland (€896k).

Growth In May 2024, the decrease in Iron or steel articles's year-by-year exports was explained primarily by a decrease in exports to Egypt (€-3.72M or -87.6%), Cote d'Ivoire (€-3.04M or -95%), and Netherlands (€-2.28M or -3.34%). In May 2024, the decrease in Iron or steel articles's year-by-year imports was explained primarily by a decrease in imports from China (€-15.8M or -30.6%), India (€-3.09M or -36.2%), and Netherlands (€-2.76M or -3.24%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (May 2023 - May 2024)€-338M(-93.9%)
IMPORT GROWTH (May 2023 - May 2024)€-347M(-89%)
MAIN DESTINATION (May 2024)Switzerland€4.5M

This section shows Iron or steel articles's exports and imports data at subnational level for Belgium. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Iron or steel articles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$4.92B
IMPORTS (2022)$6.5B
NET TRADE (2022)-$1.59B

In 2022, Belgium exported $4.92B in Iron or steel articles. The main destinations of Belgium exports on Iron or steel articles were France ($1.17B), Netherlands ($1.12B), Germany ($690M), United Kingdom ($274M), and United States ($138M).

In 2022, Belgium imported $6.5B in Iron or steel articles, mainly from Netherlands ($1.32B), Germany ($1.02B), China ($731M), France ($593M), and Italy ($552M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron or steel articles EXPORT MARKETS FOR Belgium WERE (2021 - 2022):
United States$53.5M (63.4%)
United Kingdom$36.2M (15.2%)
China$19.7M (53.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron or steel articles BY Belgium WERE (2021 - 2022):
France-$51.3M (-4.2%)
Russia-$20M (-59.1%)
Egypt-$18.8M (-77.7%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Belgium's main exporting competitors in Iron or steel articles were:
China $109B
Germany $33.5B
Italy $22.2B
In 2022, Belgium's main importing competitors in Iron or steel articles were:
United States $59.3B
Germany $32.6B
France $16.2B

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Trade Value of Iron or steel articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $473M
TOP IMPORT POTENTIALGermany+ $517M

Iron or steel articles’s highest export potential is Germany. With an export gap of $473M.   Iron or steel articles’s highest import potential is Germany with an import gap of $517M.

See methodology.

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