Russia (RUS) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Belgium (BEL) Trade

2022

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Exports $9.99BRnk 14 / 138

2022

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About

Russia-Belgium In 2022, Russia exported $9.99B to Belgium. The main products that Russia exported to Belgium are Refined Petroleum ($3.99B), Petroleum Gas ($2.2B), and Diamonds ($1.46B). During the last 23 years the exports of Russia to Belgium have increased at an annualized rate of 9.88%, from $1.15B in 1999 to $9.99B in 2022.

In 2020, Russia exported services to Belgium worth $532M, with Other business services ($232M), Transportation ($227M), and Computer and information services ($24.5M) being the largest in terms of value.

Belgium-Russia In 2022, Belgium exported $2.68B to Russia. The main products that Belgium exported to Russia were Packaged Medicaments ($825M), Vaccines, blood, antisera, toxins and cultures ($422M), and Medical Instruments ($116M). During the last 23 years the exports of Belgium to Russia have increased at an annualized rate of 5.94%, from $713M in 1999 to $2.68B in 2022.

In 2020, Belgium exported services to Russia worth $321M, with Other business services ($185M), Transportation ($51.4M), and Royalties and license fees ($24M) being the largest in terms of value.

Comparison In 2022, Russia ranked 45 in the Economic Complexity Index (ECI 0.42), and 12 in total exports ($486B). That same year, Belgium ranked 17 in the Economic Complexity Index (ECI 1.28), and 13 in total exports ($475B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $660M and imported $163M from Belgium, resulting in a positive trade balance of $496M. Between January 2021 and January 2022 the exports of Russia have decreased by $-10.7M (-1.6%) from $670M to $660M, while imports increased by $48.4M (42.1%) from $115M to $163M.

Trade In January 2022, the top exports of Russia to Belgium were Semi-Finished Iron ($194M), Refined Petroleum ($180M), Diamonds ($119M), Petroleum Gas ($48.5M), and Commodities not elsewhere specified ($31.1M). In January 2022 the top imports of Russia from Belgium were Packaged Medicaments ($6.78M), Refined Petroleum ($4.97M), Chocolate ($3.98M), Other Organo-Inorganic Compounds ($3.87M), and Propylene Polymers ($3.26M).

Origins In January 2022 the exports of Russia were mainly from REPUBLIC OF SAKHA (YAKUTIA) ($117M), LIPETSK REGION ($112M), YAMAL-NENETS AUTONOMOUS AREA ($64.1M), MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($56.4M), and VOLOGDA REGION ($49.7M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($83.4M), MOSCOW REGION ($24.1M), ST. PETERSBURG ($12M), SAMARA REGION ($6.37M), and REPUBLIC OF TATARSTAN ($5.73M).

Growth In January 2022, the decrease in Russia's year-by-year exports to Belgium was explained primarily by an decrease in product exports in Diamonds ($-122M or -50.7%), Refined Petroleum ($-90.9M or -33.5%), and Coal Tar Oil ($-26.6M or -99.8%). In January 2022, the increase in Russia's year-by-year imports from Belgium was explained primarily by an increase in product imports in Packaged Medicaments ($3.19M or 89%), Other Organo-Inorganic Compounds ($1.34M or 52.8%), and Animal Food ($1.33M or 91.2%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2021 - January 2022)$-10.7M(-1.6%)

IMPORT GROWTH (January 2021 - January 2022)$48.4M(42.1%)

MAIN EXPORTER (January 2022)REPUBLIC OF SAKHA (YAKUTIA)$117M

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

To check Belgium and Russia 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, Russia exported $9.99B to Belgium. The main products exported from Russia to Belgium were Refined Petroleum ($3.99B), Petroleum Gas ($2.2B), and Diamonds ($1.46B). During the last 23 years the exports of Russia to Belgium have increased at an annualized rate of 9.88%, from $1.15B in 1999 to $9.99B in 2022.

In 2022, Belgium exported $2.68B to Russia. The main products exported from Belgium to Russia were Packaged Medicaments ($825M), Vaccines, blood, antisera, toxins and cultures ($422M), and Medical Instruments ($116M). During the last 23 years the exports of Belgium to Russia have increased at an annualized rate of 5.94%, from $713M in 1999 to $2.68B in 2022.

Exports from Russia () to Belgium () (2022)

Exports from Belgium () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Belgium
Top DestinationGermany$91.9B

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

In 2021, countries that imported more from Russia than Belgium were China ($101B), India ($40.4B), and Turkey ($25.3B).

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

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

Comparative Advantage Russia - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Belgium in the exports of Mineral Products ($6.72B), Precious Metals ($1.46B), and Metals ($1.14B).

During 2022, Belgium had a large net trade with Russia in the exports of Chemical Products ($1.57B), Foodstuffs ($248M), and Instruments ($221M).

Service Trade

Bilateral Service Trade

Bel Year

Rus Year

In 2020, Belgium exported services to Russia worth $321M, with Other business services ($185M), Transportation ($51.4M), and Royalties and license fees ($24M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Belgium () (2020)

Services Exports from Belgium () to Russia () (2020)

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 Russia has comparative advantage over Belgium. Similarly, the more yellow a dot/product is, the more Belgium has comparative advantage over Russia.

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

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