Share article:
Share article:

Belgium’s exports fell by 8% in 2020

Credit: Belga

In 2020, Belgium’s exports and imports fell by 8 and 9.5% respectively compared to 2019, according to a provisional estimate by the National Bank of Belgium (NBB) published on Monday.

Belgium had not seen such a fall in its foreign trade since the recession of 2009, following the financial crisis.

However, the decline in 2020 is less than that of 2009. That year, exports had fallen by 16.7% and imports by 19.6%.

Although, since March 2020, due to the Covid-19 crisis, growth figures have been negative compared to the corresponding months of 2019, the year ended on a positive note.

Related News

 

Export figures have in fact returned to positive territory this month for the first time since the start of the health crisis, with growth of 2.5%. Imports continued to decline in December, but very slightly (-0.1%) and this is a positive development compared to the previous months of 2020.

Belgium’s foreign trade did not contract everywhere in 2020. Growth in trade with China remained robust.

In addition, trade with the United Kingdom has also increased strongly recently, but this is due to transactions carried out for Brexit. It is likely that the early 2021 figures for foreign trade with our British neighbours will be less good.

The Brussels Times

Latest news

Testing rules following high-risk contact eased for vaccinated people
The coronavirus testing policy following a high-risk contact has been eased, meaning a vaccinated person who was in contact with an infected person ...
New measures announced for Belgian schools
Stricter rules are being implemented across a variety of sectors in Belgium to curb the rising number of infections and limit the damage as a result ...
Majority of booster doses should be administered by March 2022
Invitations will be sent out in the following days for the general population in Belgium to receive a coronavirus booster vaccine, and most adults ...
Belgium adopts national plan to combat gender-based violence
Belgium has adopted a National Action plan for the Fight against Gender-Based Violence, which includes more than 200 measures and unites all levels ...
Antwerp cancels Christmas market and New Year’s Eve fireworks
The city of Antwerp has joined other cities including Leuven and Ghent by announcing it is cancelling this year's Christmas market, the end-of-year ...
Pharmaceutical companies looking into vaccines against new variant
Pharmaceutical companies have sprung into action to look into vaccine protection against the new coronavirus variant first detected in South Africa, ...
Belgium imposes entry ban on travellers from southern Africa
Belgium is introducing an entry ban for travellers from several countries in the south of Africa following concerns about a new variant (B.1.1.529) ...
What Ursula did next
BRUSSELS BEHIND THE SCENES • Weekly analysis and untold stories
Nightclub closures, limiting contacts: These rules come into force today
Just over one week after its last meeting, Belgium's Consultative Committee on Friday once again announced a set of new measures to curb the rising ...
Almost 3,500 Covid-19 patients in hospitals as new cases continue to skyrocket
The number of new coronavirus cases in Belgium is continuing to rise, and with it the number of Covid-19 patients who are hospitalised as a result of ...
ECDC issues threat assessment about new COVID-19 variant, WHO designates it as a variant of concern
Preliminary data on the risks of the new COVID variant of concern is high, the European Centre for Disease Prevention and Control (ECDC) said late ...
EU decides to activate emergency brake against new COVID-variant but stops short of flight ban
The new COVID variant detected in South Africa has put the EU on alert and prompted the Council’s Integrated Political Crisis Response (IPCR) to ...