The latest figures from the National Bank of Belgium (NBB) on Monday indicate that Belgian exports were down at the end of 2014. The drop was 3.2% in November, compared to the same period the previous year. Estimates for December put the drop at 1.3%. The downturn recorded by the NBB is the largest drop in exports for over a year. Exports to countries outside the European Union were the most affected, down 4.2% in November and 5.0% in December.
As imports also showed a sharp decrease, the balance trade was in equilibrium in November. According to estimations by the NBB, t again showed a deficit of 1.5 billion euros the following month.