Service exports: jewel of the Brussels economy
Whilst the usual trend continues, exports of services remain the jewel in the Region’s crown. In total, the BCR exported goods and services worth €68.7 billion in 2024, with no less than 52% (or €35.6 billion) of these exports comprising services. Furthermore, exports of services rose by 8.6% compared with 2023. While Brussels’ exports of goods declined in 2023 (-9.2%), exports of services continued to grow, as they have done since 2021 (+8.6% in 2023).
Services – but which ones?
In 2023, growth in service exports was driven mainly by the liberal professions and scientific and technical activities (+10.4%), representing an increase of nearly one billion euros and a 39% rise over three years. What exactly does this category entail? Such professions include, for example, lawyers, accountants, architects, vets, psychologists and surveyors. Scientific and technical activities include legal, accountancy and architectural advice, as well as scientific research and technical consultancy services. Financial and insurance activities grew by 13%, representing an increase of €1 billion and marking a 35% increase over three years. The Brussels Region boasts a wide and extensive range of technical expertise!
What about the partner countries?
Data on exports of services from the BCR to our partner countries is now available for the first time. Based on a carefully selected sample of 12 different countries, based on various criteria, we were able to identify several general trends. The Region trades primarily with France, the Netherlands and the United Kingdom, in particular; together, they account for almost 35% of total exports.
