Import/export of goods

The export of goods (open definition) (open definition) in the Flemish Region amounted to 103.2 billion euros in the 1^st quarter of 2025. This is 0.9% less than in the same quarter of 2024 (in current prices). In the 1^st quarter of 2024, exports were 10% lower than the year before (in current prices). In the subsequent quarters there was also a decrease, but much less sharp. The decrease of 0.9% in the 1^st quarter of 2025 was mainly due to lower export values ​​for petroleum products, pharmaceutical products and vehicles. On the other hand, there was also an increase in the value of exported chemical products, cocoa (preparations), machinery and equipment, plastic products and copper.

Import of goods (open definition) (open definition) in the Flemish Region amounted to 102.5 billion euros in the 1^st quarter of 2025. Imports thus increased by 1.3% in the 1^st quarter of 2025 (in current prices). The increase was mainly due to the higher import value of pharmaceutical and chemical products, cocoa (preparations), ores and copper. In parallel, there was a decrease in the imported value of vehicles and precious stones in particular. There was also a clear decrease on the import side in the 1^st quarter of 2024 (-14%), followed by less strong decreases in the quarters thereafter, and a shift to more imports in the 1^st quarter of 2025.

The figures on imports and exports for the 1^st quarter of 2025 are provisional and may still be adjusted in the coming months.

According to provisional figures, the export of goods in the Flemish Region amounted to 418 billion euros in 2024, or 3.7% less than in 2023 (in current prices). Flemish imports of goods amounted to 408 billion euros in 2024 (provisional figures), or 6.3% less than in 2023. These declines follow (stronger) declines in 2023 and are a consequence of a slowdown in world trade. The main reason for the decline in Flemish exports is the decline in the export of oil and natural gas, organic chemical products and precious stones and diamonds. On the import side, lower imports of organic chemical products, oil and natural gas and vehicles and parts were mainly responsible for the lower total import value.

Flemish imports and exports have been steadily increasing annually since 2003. However, in the recession year of 2009, there was a contraction due to the financial and economic crisis. In 2010 and 2011, foreign trade recovered. For a number of years between 2008 and 2012, imports exceeded exports (expressed in euros) due to price increases for imported oil. Since 2013, exports have consistently exceeded imports. In 2019, there was a decline in both exports and imports of goods. Trade conflicts and protectionist measures (trade conflict with China) were the cause. The Covid-19 crisis caused an even greater decline in imports and exports in 2020. In 2022, the value of imports was again greater than that of exports. This is related to the more expensive imported oil and natural gas at the time. In 2023, exports and imports were lower, mainly due to the fall in the price of energy products. In 2024, the value of exports was again slightly greater than that of imports.

The countries of the European Union (EU) are the most important export market for the Flemish Region: the EU27 countries accounted for 65% of Flemish exports in 2024. It is mainly the EU14 countries (58% of Flemish exports) and more specifically the 3 neighbouring countries Germany, France and the Netherlands (43% of Flemish exports) that are very important. The EU13 (open definition) countries (open definition) accounted for 7% of Flemish exports. For the countries outside the EU27, the US and Canada together and the UK had a share of 7% and 6%. Trading blocs such as BRICS (open definition) (open definition) and Next-11 (open definition) (open definition) accounted for 4%.

Compared to 2023, the share of the EU27 increased slightly (+1 percentage point) due to the increase of the EU14 (open definition) (open definition) (+1 percentage point). The UK’s share fell between 2020 and 2022, but has since increased slightly. The US and Canada have grown in importance in recent years. The share of the BRICS and the Next-11 declined in 2024.

The EU27 countries are also the main import countries: in 2024, this was a share of 60%. This is a lower figure than for exports. This mainly concerns the EU14 countries. On the import side, the greater importance of the BRICS is noticeable (11%). This is due to the share of imports from China (8%).

The 5 most important export products in 2024 were vehicles and parts, pharmaceutical products, oil and natural gas, machinery and tools and plastic products and applications. Together, these accounted for 49% of the value of Flemish exports. Compared to 2023, the importance of oil and natural gas decreased slightly.

The same products accounted for 51% of total imports in 2024. Oil and natural gas were the most important import products in value. On the import side, the importance of oil and natural gas also decreased, but that of pharmaceutical products increased.

In 2024, the Flemish Region accounted for 82% of Belgian goods exports. For goods imports, this was 85%.

Belgium, like our 3 neighbouring countries, has a larger foreign trade than the Flemish Region (expressed in euros). These are therefore larger economies. German exports were worth 1,556 billion euros in 2024. Belgium was the 5^th most important export country in the EU in 2024, after Germany, the Netherlands, Italy and France.

Exports declined in both Belgium (and all regions) and in the 3 neighbouring countries in 2024. The decline (in current prices) was greater in Belgium (-6%) than in the 3 neighbouring countries (between -1.2% and -1.7%). There was a decrease in every region, but especially in Brussels (-15%) and Wallonia (-8%).

Germany was also the largest importer (1,317 billion euros). Belgium is also in 5^th place here, after Germany, the Netherlands, France and Italy.