Refined Petroleum in Belgium | The Observatory of Economic Complexity

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Exports In 2022, Belgium exported $32.4B in Refined Petroleum, making it the 11th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 3rd most exported product in Belgium. The main destination of Refined Petroleum exports from Belgium are: Netherlands ($6.84B), Nigeria ($6.83B), Germany ($3.77B), France ($3.29B), and Luxembourg ($1.53B).

The fastest growing export markets for Refined Petroleum of Belgium between 2021 and 2022 were Nigeria ($5.04B), Netherlands ($2.11B), and Germany ($1.05B).

Imports In 2022, Belgium imported $28.5B in Refined Petroleum, becoming the 8th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Belgium. Belgium imports Refined Petroleum primarily from: Netherlands ($10B), Russia ($3.99B), United Kingdom ($2.33B), France ($1.85B), and India ($1.35B).

The fastest growing import markets in Refined Petroleum for Belgium between 2021 and 2022 were Netherlands ($3.42B), Russia ($1.83B), and France ($701M).

COMPANIES In 2023, leading companies such as THE DOW CHEMICAL COMPANY (26) were at the forefront of shipping Refined Petroleum from Belgium to the United States.

Latest Trends

December 2023

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Overview In December 2023 Belgium's Refined Petroleum exports accounted up to €2.29B and imports accounted up to €1.33B, resulting in a positive trade balance of €956M. Between December 2022 and December 2023 the exports of Belgium's Refined Petroleum have increased by €84.3M (3.82%) from €2.21B to €2.29B, while imports decreased by €-1.22M (-0.091%) from €1.34B to €1.33B.

Destinations In December 2023, Refined Petroleum were exported mostly to Netherlands (€486M), Nigeria (€321M), Germany (€293M), France (€165M), and Special Categories (€162M), and were imported mostly from Netherlands (€677M), France (€179M), Spain (€83.6M), United States (€79.4M), and United Kingdom (€65.2M).

Growth In December 2023, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to Special Categories (€115M or 80.3%), France (€108M or 63.2%), and Germany (€101M or 48.6%). In December 2023, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from United Kingdom (€-70M or -43.8%), Algeria (€-21.9M or -100%), and Italy (€-11M or -97%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2022 - December 2023)€84.3M(3.82%)

IMPORT GROWTH (December 2022 - December 2023)€-1.22M(-0.091%)

MAIN DESTINATION (December 2023)Netherlands€486M

This section shows Refined Petroleum's exports and imports data at subnational level for Belgium. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Refined Petroleum over time.

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