Since medieval times, Belgium has been a major player in global trade with a highly diversified export economy and today is consistently ranked among the top exporters in the world.
Foreign trade currently accounts for approximately 70 percent of Belgium’s economy, 80% of which is done with fellow EU member states.
A wide diversity of industries contribute to the country’s exports, including:
Chemicals and Pharmaceuticals
Belgium is a major exporter of chemicals and pharmaceuticals, including drugs, pesticides, plastics, and rubber. These products account for a significant portion of Belgium’s exports and are highly valued globally.
Machinery and Equipment
Belgium is also a major exporter of machinery and equipment, including engines, turbines, and motors. This includes specialised machinery used in industries such as manufacturing, construction, and transportation.
Food and Beverages
Belgium is known for its high-quality food and beverages, including its world-famous chocolate and beer. These products are highly valued for their quality and unique flavours.
Automobiles and Parts
Belgium is a major exporter of automobiles and automobile parts that includes manufacturers such as Volvo and Audi.
Diamonds
Belgium is the world’s leading exporter of rough and polished diamonds. The diamond trade accounts for a significant portion of the country’s exports.
Services
In addition to goods, Belgium also exports a range of services, including financial, transportation, and business services.
Strong in international trade
There are several factors contributing to Belgium’s strength in export and international trade:
Strategic Location
Strategically located at the heart of Europe, Belgium enjoys excellent transport links to major European markets. This makes it an ideal location for businesses looking to export to the EU and beyond.
Strong Logistics Infrastructure
Belgium has a highly developed logistics infrastructure, including one of the world’s largest ports, as well as a dense network of roads, railways, and airports. This makes it easy for businesses to transport goods to and from the country.
Skilled Workforce
Belgium has a highly skilled and educated workforce, with a strong emphasis on languages and international business. This makes it easy for businesses to communicate with customers and partners in other countries.
Business-Friendly Environment
With a well-established legal and regulatory framework that encourages international trade, Belgium has a business-friendly environment. The country also offers a range of tax incentives and funding programs to support exporters.
Diversified Economy
Belgium has a highly diversified economy, with a range of industries that contribute to exports, including chemicals, machinery, food and beverages, and automobiles.
In conclusion, exporting creates jobs, drives innovation, and supports economic growth, making it a key driver of Belgium’s prosperity.
Belgium is home to the Port of Antwerp-Bruges, one of the largest ports in the world