Belgium-Ireland Bilateral Trade Analysis 2023
Complete trade statistics: $22.34B total volume •Belgium deficit: $15.69B
Belgium → Ireland
$3.33B
Exports (2023)
Ireland → Belgium
$19.01B
Imports (2023)
Trade Balance
$15.69B
Deficit for Belgium
Total Trade
$22.34B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Belgium and Ireland. Green line shows exports from Belgium, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Belgium-Ireland commercial relationship and competitive positioning in global markets.
Belgium → Ireland Exports
Export Market Intelligence
🎯 Strategic Export Focus
Belgium's export portfolio to Ireland demonstrates strong diversification across multiple sectors, with vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power representing a key competitive advantage in this bilateral market.
Ireland → Belgium Imports
Import Dependency Profile
📦 Import Strategy Analysis
Belgium's import pattern from Ireland reveals significant dependencyin vaccines: for human medicine, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Belgium demonstrates competitive strength in exportingvehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power to Ireland, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $22.34B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Belgium-Ireland Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $22.34 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Belgium maintains a deficit of $15.69 billion
- Export Focus: Belgium's primary exports include vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
- Import Dependencies: Key imports from Ireland include vaccines: for human medicine, medicaments: containing hormones (excluding insulin), (but not containing antibiotics), for therapeutic or prophylactic uses, not packaged for retail sale, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $22.34B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Belgium leveraging its comparative advantages in vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Belgium's specialization in vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric powercomplements Ireland's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in vaccines: for human medicine.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $22.34B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $22.34B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $22.34 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power and vaccines: for human medicine demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Belgium's trade deficit of $15.69 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Belgium and Ireland represents a total trade volume of $22.34 billion in 2023. This partnership demonstrates an unfavorable trade balance for Belgium, with imports exceeding exportsby $15.69 billion.
Export Strengths
Belgium's exports to Ireland total $3.33 billion, with competitive advantages in vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power, representing $353.59M or10.6% of bilateral exports.
Import Dependencies
Imports from Ireland amount to $19.01 billion, highlighting economic interdependence in vaccines: for human medicine, with Vaccines: for human medicine comprising32.7% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Belgium's strategic sourcing from Ireland. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Belgium and Ireland in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023