Belgium (BEL) and Libya (LBY) Trade | The Observatory of Economic Complexity

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Belgium (BEL) and Libya (LBY) Trade

2022

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Exports $1.28BRnk 42 / 222

2022

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About

Belgium-Libya In 2022, Belgium exported $1.28B to Libya. The main products that Belgium exported to Libya are Refined Petroleum ($1.11B), Cars ($44.9M), and Eggs ($21.1M). During the last 23 years the exports of Belgium to Libya have increased at an annualized rate of 11.5%, from $105M in 1999 to $1.28B in 2022.

In 2022, Belgium did not export any services to Libya.

Libya-Belgium In 2022, Libya exported $13.7M to Belgium. The main products that Libya exported to Belgium were Refined Petroleum ($9.35M), Iron Reductions ($4.15M), and Scrap Copper ($79.6k). During the last 23 years the exports of Libya to Belgium have increased at an annualized rate of 0.069%, from $13.5M in 1999 to $13.7M in 2022.

In 2022, Libya did not export any services to Belgium.

Comparison In 2022, Belgium ranked 17 in the Economic Complexity Index (ECI 1.28), and 13 in total exports ($475B). That same year, Libya ranked 96 in the Economic Complexity Index (ECI -0.84), and 67 in total exports ($36B).

Latest Trends

December, 2023

About

Overview In December 2023, Belgium exported €32.4M and imported €15.1k from Libya, resulting in a positive trade balance of €32.4M. Between December 2022 and December 2023 the exports of Belgium have decreased by €-47.9M (-59.7%) from €80.2M to €32.4M, while imports increased by €15.1k (1.51M%) from €1 to €15.1k.

Trade In December 2023, the top exports of Belgium to Libya were Mineral fuels, mineral oils and products... (€87.1M), Cars, tractors, trucks & parts thereof. (€2.31M), Edible products of animal origin, n.e.s. (€1.08M), Preparations of vegetables, fruit, nuts or... (€935k), and Optical, photo, & film equipment; medical... (€883k). In December 2023 the top imports of Belgium from Libya were Mineral fuels, mineral oils and products... (€1.08M).

Growth In December 2023, the decrease in Belgium's year-by-year exports to Libya was explained primarily by an decrease in product exports in Mineral fuels, mineral oils and products... (€-50.4M or -36.7%), Edible products of animal origin, n.e.s. (€-1.09M or -50.1%), and Miscellaneous edible preparations (€-744k or -99.9%). In December 2023, the increase in Belgium's year-by-year imports from Libya was explained primarily by an increase in product imports in .

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2022 - December 2023)€-47.9M(-59.7%)

IMPORT GROWTH (December 2022 - December 2023)€15.1k(1.51M%)

This section shows exports and imports data at subnational level for Belgium. Click any date in the line plot or any product to explore the exports or imports behavior of Belgium over time.

To check Libya and Belgium trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Belgium exported $1.28B to Libya. The main products exported from Belgium to Libya were Refined Petroleum ($1.11B), Cars ($44.9M), and Eggs ($21.1M). During the last 23 years the exports of Belgium to Libya have increased at an annualized rate of 11.5%, from $105M in 1999 to $1.28B in 2022.

In 2022, Libya exported $13.7M to Belgium. The main products exported from Libya to Belgium were Refined Petroleum ($9.35M), Iron Reductions ($4.15M), and Scrap Copper ($79.6k). During the last 23 years the exports of Libya to Belgium have increased at an annualized rate of 0.069%, from $13.5M in 1999 to $13.7M in 2022.

Exports from Belgium () to Libya () (2022)

Exports from Libya () to Belgium () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Belgium
Top DestinationGermany$91.9B

Libya
Top DestinationItaly$9.26B

This map shows whether countries import more from Belgium or Libya. Each country is colored based on the difference in imports they receive from Belgium and Libya or the difference in the growth in imports.

In 2021, countries that imported more from Belgium than Libya were Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

In 2021, countries that imported more from Libya than Belgium were Thailand ($1.67B) and Greece ($2.25B).

Difference in imports from Libya () and Belgium () (2022)

Comparative Advantage Belgium - Libya

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Belgium and Libya by product, considering products traded by both, Belgium and Libya.

During 2022, Belgium had a large net trade with Libya in the exports of Mineral Products ($1.12B), Transportation ($47.7M), and Foodstuffs ($28.2M).

During 2022, Libya had a large net trade with Belgium in the exports of Mineral Products ($9.35M), Metals ($4.29M), and Machines ($43.4k).

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Belgium has comparative advantage over Libya. Similarly, the more yellow a dot/product is, the more Libya has comparative advantage over Belgium.

Product Space of Belgium () and Libya () (2022)

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