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Trade between Belgium and South Korea

In 2024, Belgium exported $1.6 billion to South Korea and imported $3 billion. Belgium ran a deficit of $1.4 billion with South Korea, compared with a deficit of $560 million in 2019. South Korea was Belgium’s 28th largest trading partner (0.6% of its trade), and Belgium was South Korea’s 39th (0.3%).

Summary

Belgium → South Korea
$1.6billion
South Korea → Belgium
$3billion
Belgium’s balance
-$1.4billion

Balance

Belgium’s trade balance with South Korea

Trade between Belgium and South Korea grew 3.7-fold since 1995

USD billions (current). Belgium’s exports and imports; bars: its balance (green surplus, red deficit).

  • Exports 1.6
  • Imports 3
  • Balance -1.4

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$793 million$437 million$356 million
1996$775 million$450 million$325 million
1997$745 million$628 million$118 million
1998$497 million$930 million-$433 million
1999$523 million$848 million-$325 million
2000$708 million$1.1 billion-$423 million
2001$612 million$887 million-$275 million
2002$721 million$901 million-$180 million
2003$830 million$1.5 billion-$647 million
2004$1 billion$1.7 billion-$744 million
2005$1.1 billion$2.2 billion-$1.2 billion
2006$997 million$2.6 billion-$1.6 billion
2007$1.2 billion$3.4 billion-$2.2 billion
2008$1.4 billion$3.8 billion-$2.4 billion
2009$1.1 billion$2.5 billion-$1.5 billion
2010$1.2 billion$1.8 billion-$609 million
2011$1.5 billion$1.6 billion-$119 million
2012$1.4 billion$1.7 billion-$318 million
2013$1.6 billion$2.2 billion-$685 million
2014$1.9 billion$2.2 billion-$395 million
2015$1.4 billion$1.7 billion-$256 million
2016$1.1 billion$1.8 billion-$662 million
2017$1.3 billion$2 billion-$721 million
2018$1.5 billion$2.1 billion-$584 million
2019$1.4 billion$1.9 billion-$560 million
2020$1.6 billion$2.3 billion-$665 million
2021$3.5 billion$3 billion$460 million
2022$3.2 billion$3.3 billion-$105 million
2023$2 billion$3.5 billion-$1.5 billion
2024$1.6 billion$3 billion-$1.4 billion

What they sell each other

What Belgium sells to South Korea

The top 10 headings in 2024, with their share of the total.

  1. Vaccines, blood and antisera$262 million · 16.7%
    64 tonnes · Belgium’s destinations
  2. Medicines in measured doses or retail packs$119 million · 7.5%
    2 thousand tonnes · Belgium’s destinations
  3. Cars$104 million · 6.6%
    7 thousand tonnes · Belgium’s destinations
  4. Platinum$85 million · 5.4%
    2 tonnes · Belgium’s destinations
  5. Photographic chemicals$56 million · 3.6%
    513 tonnes
  6. Air pumps, compressors and fans$52 million · 3.3%
    2 thousand tonnes
  7. Chocolate$49 million · 3.1%
    6 thousand tonnes · Belgium’s destinations
  8. Frozen vegetables$41 million · 2.6%
    25 thousand tonnes
  9. Pork$36 million · 2.3%
    9 thousand tonnes · Belgium’s destinations
  10. Molybdenum ore$35 million · 2.2%
    1 thousand tonnes

What South Korea sells to Belgium

The top 10 headings in 2024, with their share of the total.

  1. Cars$550 million · 18.5%
    35 thousand tonnes · South Korea’s destinations
  2. Vaccines, blood and antisera$343 million · 11.6%
    35 tonnes · South Korea’s destinations
  3. Batteries$212 million · 7.1%
    8 thousand tonnes · South Korea’s destinations
  4. Bulldozers and excavators$170 million · 5.7%
    49 thousand tonnes · South Korea’s destinations
  5. Cargo and cruise ships$150 million · 5%
    88 thousand tonnes · South Korea’s destinations
  6. Refined petroleum$141 million · 4.7%
    189 thousand tonnes · South Korea’s destinations
  7. Hot-rolled flat steel$110 million · 3.7%
    166 thousand tonnes
  8. Polyethers, polyesters and epoxy resins$88 million · 3%
    43 thousand tonnes
  9. Coated flat steel$68 million · 2.3%
    121 thousand tonnes
  10. Polypropylene$67 million · 2.3%
    74 thousand tonnes · South Korea’s destinations

How it travels

Estimated sea route from Antwerp to Busan.

The estimated sea route between Antwerp and Busan is 14,510 nautical miles (26,872 km) long: ≈ 33.5–43 days at sea (at 18 and 14 knots).

Because of the 2024 disruptions, traffic is split: 85% via the Strait of Dover, the Cape of Good Hope and the Strait of Malacca and Singapore (14,510 nautical miles); and 15% via the Strait of Dover, the Strait of Gibraltar, the Suez Canal, the Bab-el-Mandeb Strait and the Strait of Malacca and Singapore (11,067 nautical miles).

Sailing estimate without port calls, waiting or transshipment; not a schedule. One main reference port per country: in large countries it does not represent all of its ports.

Split by transport mode

  1. Sea$3.2 billion · 71%
  2. Air$1.3 billion · 29%

Mode estimated from value per kilo and geography; both directions together.

How much each matters to the other

South Korea was Belgium’s 28th largest trading partner (0.6% of its trade), and Belgium was South Korea’s 39th (0.3%).

South Korea in Belgium’s trade
0.6%
South Korea’s rank among Belgium’s partners
28th
Belgium in South Korea’s trade
0.3%
Belgium’s rank among South Korea’s partners
39th

Compare with

Other partners of Belgium

Other partners of South Korea

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.