Nationwide decline in exports
In 2020, the Brussels Region exported €7.59 billion worth of goods – a 4.8% drop compared with the previous year.
For Belgium as a whole, the decline in exports (-6.1%) is more pronounced than in Brussels. These dismal results can easily be explained by the partial paralysis that gripped global trade in the wake of the pandemic. Furthermore, with Belgian imports down by 7.14%, the trade balance for goods is once again negative at national level.
Transport equipment and chemical products down in Brussels
Whilst goods exports are down in all regions across the country, two categories of goods in particular have affected the Region’s negative result:
- Transport equipment, the leading category of goods exports, fell by 17.1% in one year.
- “Plastics and articles thereof; rubber and articles thereof…”, the fifth-largest category, saw a fall of 45.5%.
Local markets remain strong
As in previous years, the majority of Brussels-based businesses find their markets in neighbouring countries, with 84.2% of Brussels’ exports destined for Europe. Within the continent, there have been declines in exports to all major partners: Germany (-15.5%) and France (-1.7%), although both countries still rank among the top three alongside the Netherlands. The United States, the leading destination outside Europe, has slipped to place, with exports totalling €535 million. They are followed by Japan (€155 million) and South Korea (€39 million).
