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Imports and Exports in Belgium

Imports and Exports in Belgium

Belgium is a founding member of the European Union (EU) and one of the most important economies of the European space. Investors interested in opening a company in the field of trading in Belgium should know that most of the products traded here are delivered on the European marketour Belgium company formation specialists can provide you with detailed information on the trading market available here. 

Exports in Belgium in 2014

If you want to open a company in the trading field, you should know that at the level of 2013, Belgium ranked as the 13th largest world exporter; the top products exported from Belgium are: petroleum, vehicles, medicaments, petroleum gas and diamonds. 

In 2014, the total exports accounted for the value of $472.2 billion, with a 10.9% increase compared to 2010. The most exported products at the level of 2014 were the following:

• oil – representing 11.4% of the total exports;

• pharmaceutics (10.4%);

• vehicles (9.7%);

• organic chemicals (7.2%);

• machines and engines (7%);

• plastics (6.8%);

• gems and precious metals (4.9%);

• iron and steel (3.5%);

• medical equipment (3.1%);

• electronic equipment (3.1%).

Exports in medical and technical equipment increased by 48.9% since 2010, being the most required export products for the Belgium’s trading partnersExport sales increased by 48.5% for oil and petroleum products; our company formation representatives in Belgium can offer you further details on this topic. 

Imports in Belgium in 2014

In 2014, the value of imported products bought by Belgium reached the value of $451.3 billion, increasing by 15.4% compared to 2010. 

The Belgium top imports were comprised of the following products (at the level of 2014): 

• chemical products;

• mineral products;

• machinery and equipment;

• transport equipment;

• metals;

• plastics;

• precious metals. 

The most representative trading partners in terms of imports were the Netherlands, Germany, France, United States of America, United Kingdom and China. 

Investors are advised to keep in mind the various rates for the VAT in Belgium that apply for these types of business activities.

If you need further information on the trading market available in Belgium, please contact our company formation consultants, who can provide you with assistance in case you want to set up a business here.