Source: National Bank of Belgium according to the communautarian concept (including transit and international distribution centres)
The Belgian chemicals and life sciences industry’s trade balance underlines the importance of its international operations. In 2020, Belgium’s chemicals and life sciences sector exported 131 billion euro of products – more than one-third of total Belgian exports.
Representing over 80% of its production in 2020, this makes the industry the country’s number one exporter. It also accounts for 11% of total EU-27 exports.
The chemicals and life sciences industry generated a positive trade balance of 27 billion euro in 2020. The sector contributes positively to the overall Belgian trade balance (21.0 billion euro).
Neighbouring countries are among the sector’s main trading partners, with Germany alone accounting for 18% , France for 10% and the Netherlands for 8%. The USA has become the second trading partner with a share of 13%. International trade with emerging countries is also growing steadily. The sector’s exports to Brazil, Russia, India and China (the BRICs) rose by 80% between 2010 and 2020 to reach 6.5% of the total.
BRIC: Brazil, Russia, India, China. NAFTA: United States, Canada, Mexico. // Source: National Bank of Belgium according to the communautarian concept
BRIC: Brazil, Russia, India, China. NAFTA: United States, Canada, Mexico. // Source: National Bank of Belgium according to the communautarian concept
