Last year, the Brussels Region exported €8.9 billion worth of goods, marking a 25% decrease compared to the previous year, according to the latest data released by hub.brussels, the agency responsible for foreign trade in Brussels.
The vast majority of Brussels exports, 88%, are destined for Europe, showing an increase from 2023 likely due to the uncertain geopolitical climate.
Within Europe, hub.brussels reports declines in exports to Germany (-41%) and France (-13.7%), although these countries remain in the top three trading partners along with the Netherlands.
In contrast, there are significant increases in exports to the Czech Republic (+171.3%), Poland (+53.5%), and the United Kingdom (+22.9%), with the UK rising to fifth place ahead of the United States, attracting more Brussels exporters.
The primary non-European destination is the United States, which falls from fourth to sixth place, receiving €417 million worth of goods, followed by Japan (€100 million) and Brazil (€67 million).
The exports of Brussels-based companies decreased from nearly €11.8 billion in 2023 to about €8.9 billion, a 24.7% drop over the year, following a trend of continuous growth since 2020, as reported by L-Post.
Although exports have decreased in every region of the country, the decline is more pronounced in Brussels, influenced by two key sectors: transport equipment (-58.4%) due to the gradual shutdown of Audi Brussels production, and chemical products or related items (-11.6%), particularly organic chemicals, according to hub.brussels.
Three major categories encompass nearly 70% of all Brussels imports: machinery and electrical equipment (23.8%), chemical products (23.5%), and transport equipment (20.2%).
At the national level, the decline in exports is more limited at -4.9%, attributed to various factors such as the tense geopolitical context, falling energy prices, decreased vaccine sales, a slowdown in diamond trade, and a reduction in vehicle exports.
Nevertheless, with Belgian imports down by 8.8%, the trade balance is once again positive at the national level, as concluded by hub.brussels.
