Belgium: Imports, percent of GDP

* indicates monthly or quarterly data series
 Belgium

Imports of goods and services as percent of GDP

 Latest value 97.36
 Year 2022
 Measure percent
 Data availability 1970 - 2022
 Average 63.70
 Min - Max 41.08 - 97.36
 Source The World Bank
For that indicator, we provide data for Belgium from 1970 to 2022. The average value for Belgium during that period was 63.7 percent with a minimum of 41.08 percent in 1972 and a maximum of 97.36 percent in 2022. The latest value from 2022 is 97.36 percent. For comparison, the world average in 2022 based on 149 countries is 52.38 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Belgium - Imports, percent of GDP - Recent values chart

Historical chart
Belgium - Imports, percent of GDP - historical chart - 1970-2022




The imports of Belgium and other countries are calculated as the total amount of goods and services produced abroad and sold at home. Imports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.

If imports are about 15 percent or less of GDP the economy is considered relatively closed. That, for example, applies to the U.S. In contrast, many small European countries import over 40 percent of the products they consume. They are considered more open to international trade.
Definition: Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.


 Related indicators Latest value Reference Measure
 Terms of trade 99.39 2021 percent
 Trade openness 193.09 2022 percent
 Financial openness 2.299 2021 index points
 Exports, percent of GDP 95.73 2022 percent
 Exports, billion dollars 558.53 2022 billion U.S. dollars
 Growth of exports 4.92 2022 percent
 Imports, percent of GDP 97.36 2022 percent
 Imports, billion dollars 568.04 2022 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 2.14 2022 percent
 Foreign Direct Investment, billion dollars 9.79 2022 billion U.S. dollars
 Portfolio investment inflows, equities -17.25 2022 million dollars (current)
 Current account, percent of GDP -1.00 2023 percent
 Current account, in dollars -5.30 2022 billion U.S. dollars
 Trade balance, percent of GDP -1.63 2022 percent
 Trade balance, in dollars -8.90 2022 billion U.S. dollars
 Reserves 41.27 2022 billion U.S. dollars
 Remittances, percent of GDP 2.30 2022 percent
 Remittances 13,437.74 2022 million U.S. dollars
 Net errors and omissions -1,014.21 2022 million USD
 Foreign exchange reserves 36.48 9/2023 billion
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