5 most famous export products from Belgium
Belgium, along with Luxembourg, has become the 12th largest export economy in the world. Both neighbouring countries may be considered as one economic power, because of their trades, although Belgium stands for the majority of the export.
In 2015, Belgium and Luxembourg exported 276 billion euros and imported 321 billion euros, resulting in a negative trade balance of 44,4 billion euros.
The top 5 of most exported products from Belgium are:
1. Vehicles
The automotive sector in Belgium exports more than 38 billion € every year. This represents11,4% of its total exports.
2. Pharmaceuticals
The pharmaceutical industry in Belgium is very powerful too.
Since companies have been investing in this sector for so long, their advances in Research and Development allowed the country to become a huge exporter of this kind of products.
In this case, we are talking about 35 billion euros per year, meaning 10,6% of its exports.
3. Organic chemicals
This sector has a strong relation with the last one, meaning that the companies that export these products are related to the ones who exports pharmaceutics.
We are talking about 25 billion euros, which is7,4 % of its export.
4. Machinery (including computers)
This is one of the most expanding sectors in Belgium in recent years, since the raise of technology and computer technology has become a reality all over the world.
Belgium is earning up to 25 billion euros every year, which means 7,3% of its total exports.
5. Mineral fuels (including oil)
Even though Belgium is obviously not one of the biggest fuel exporters in the world, it also has a huge refining industry.
Nowadays it is exporting up to 23 billion euros yearly, which means a 6,9% of its total exportations.
