Belgium’s trade surplus has been halved – Business
Belgium’s trade surplus has been halved, reaching 9.1 billion euros for the period from January to November 2022, the National Bank (BNB) reported on Monday.
A trade surplus means that our country’s total exports exceed the sum of its imports. But the latter accelerated faster than exports: 35.7% against 31.9% over the first 11 months of 2022. The halving of the surplus is explained by the widening of the deficit in trade in mineral products . “The marked increase in oil and gas prices during this period has a greater impact on imports,” according to the BNB. The surplus generated by trade in chemical and pharmaceutical products is slightly increased. As for the trade surplus of other products, it mainly evolved in food products (from 7.8 to 9.4 billion euros, i.e. +1.6 billion) and base metals (from 3.4 to 4 .8 billion euros, i.e. + 1.4 billion).
A trade surplus means that our country’s total exports exceed the sum of its imports. But the latter accelerated faster than exports: 35.7% against 31.9% over the first 11 months of 2022. The halving of the surplus is explained by the widening of the deficit in trade in mineral products . “The marked increase in oil and gas prices during this period has a greater impact on imports,” according to the BNB. The surplus generated by trade in chemical and pharmaceutical products is slightly increased. As for the trade surplus of other products, it mainly evolved in food products (from 7.8 to 9.4 billion euros, i.e. +1.6 billion) and base metals (from 3.4 to 4 .8 billion euros, i.e. + 1.4 billion).