Trade Balance of Goods in Belgium: Overview from 2017 to 2023

Belgium maintained a positive trade balance over the 2017–2023 period, with its surplus peaking at 23,884.7 million USD in 2020, a year marked by reduced imports during the pandemic. The surplus decreased in subsequent years, reaching 15,674.2 million USD in 2023, reflecting the country’s role as a major re-export hub in Europe and the impact of fluctuating global trade flows.

The slight decline in the surplus after 2020 can be linked to increased import costs due to energy price volatility and supply chain disruptions. Despite this, Belgium’s strong export sectors, including chemicals, pharmaceuticals, and machinery, helped sustain the positive trade balance, though the growth rate slowed in recent years.