The economic relationship between Belgium and the US remains strong, according to AmCham EU’s new report The Transatlantic Economy 2017. Below we share some of the report’s most telling statistics.
US employment in Belgium
Did you know US companies employed an estimated 132,000 people in Belgium in 2015? US companies in Belgium are job creators and, in particular, generate a significant amount of employment in the manufacturing sector.
Exports to the US
Did you know the US is Belgium’s fifth largest trading partner and ranks first when EU countries are excluded? Belgium exported $19.5 billion worth of goods to the US in 2015 – accounting for 6% of total Belgian exports, or 21.4% excluding intra-EU trade.
The export of chemical products has grown four-fold in the last 15 years and have become Belgium’s main export product to the US. Manufactured goods and machinery & transport equipment come in second and third, respectively.
Belgian imports from the US
Did you know the US supplied 8.7% of total Belgian imports in 2015, amounting to $32.6 billion worth of goods? When EU countries are excluded, almost a quarter of Belgian imports come from the US. 55% of these exports are intra-firm (within corporate groups).
Belgium is a top export market for 32 of the 50 US States. For five US States – Mississippi, Montana, New Mexico, South Dakota and Tennessee – Belgium is even their first European export market!
In terms of volume, Texas is the largest exporter to Belgium with $4,613 million shipped in 2015 – in fact, Belgium is Texas’s second export destination in Europe! – followed by New York ($4,473 million), California ($2,942 million), Illinois ($1,611 million), Louisiana ($1,312 million) and Pennsylvania ($1,289 million). These States primarily export chemicals, energy resources, computers and electronic products, machinery, transportation equipment and crops.
US affiliate sales abroad
Did you know that Belgium is in the top 10 of countries for US affiliate sales abroad?
AmCham Belgium is proud to see that US-Belgian trade and cross-border investment remain strong. We look forward to continuing to improve business and investment opportunities for the US-Belgium business community.
If you would like to learn more, take a look at our publication series The Importance of US Companies in Belgium, or related blog posts such as Foreign Investments, Driving the Belgian Economy and Belgium: a Trading Nation.