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HOME SECTOR
The Home sector is quite dynamic in the context of the Belgian economy, either in terms of turnover and labor used or in terms of the volume of exports. Special prominence for the existence of an important textile industry cluster, including home textiles present in the Flanders region.
According to data from Fedustria (Belgian Federation of textile, woods and furniture), in 2022, this sector was responsible for a turnover of €12 billion (divided from €5 billion for the textile industry home and 7 billion for the furniture/lighting industry), which represented a growth of more than 10% from 2021.
As millions of millennials prepare to buy their first homes, there are new opportunities for producers, importers, retailers and agents, meeting the behaviors and preferences inherent in this generation that prioritizes functionality, ecological sustainability and accessibility.
In that sense, this is a sector that should deserve special attention from the Portuguese supply, due to the varied business opportunities existing in every subsector it aggregates.
IMPORTS
According to Comtrade, Belgium imports recorded a value of 464 billion USD in 2022 (394 billion USD in 2021). The five major groups of imported products were Mineral Fuels (25.5%), Chemicals (20.7%), Machines and Apparatus (11.6%), Vehicles and Other Transportation Material (9.2 %) and the Common Metals (6.4%).
According to the Comtrade, Belgium's top five suppliers in 2022 were the Netherlands (21.1%), Germany (11.9%), France (10.7%), the UK (6, 4%) and the US (5.4%). These markets have jointly accounted for 55.5% of the value of imports.
EXPORTS
According to Comtrade, Belgium’s exports recorded a value of 464 billion USD in 2022 (386 billion USD in 2021). The top five groups of exported products were Chemicals (26.3%), Mineral Fuels (20.1%), Vehicles and Other Transportation Material (8.3%), Machines and Apparatus (8.1 %) and the Common Metals (7.3%).
According to the Comtrade, Belgium's top five client markets in 2022 were Germany (20.1%), the Netherlands (14.2%), France (12.5%), the US (6, 8%) and the UK (5.1%). These markets have jointly accounted for 58.6% of the export value.
TRADE BALANCE WITH PORTUGAL
According to Comtrade, in 2022, Belgium recorded a $328 million deficit, which represented a 16 billion USD decrease from 2018 and 7,586 million USD from 2021. The coverage rate of export imports was 99.9%, which meant 1.9% more than that recorded in 2021.
According to INE, Belgium was the 8th client of Portuguese exports of goods in 2022, with a 2.4% share, occupying the 9th position at the import level (3.2%). Over the course of the period 2018-2022 there was an average annual export growth of 10.4% and 14.3% in imports. The commercial balance of goods was unfavorable to our country, having presented a deficit of €1,575 million in 2022.