Strategic location
Belgium is situated in the heart of Europe and is home to many international organisations and multinational companies, making it an attractive location to be commercially active. Belgium’s proximity to the UK is also a great advantage. Its good transport links mean you can get there and back for meetings within a day.
Strong and open economy
Belgium is an affluent and multicultural country with a developed, modern, private-enterprise economy. It’s an open and competitive market and barriers to market entry are low. There are opportunities in most sectors, in particular for high-value products and services.
Similarities to the UK
Belgium has a similar business culture to the UK’s and English is an accepted business language. British products enjoy a good reputation and if your product or service is successful in the UK, there’s a good chance you’ll be successful in Belgium.
Top five UK goods exported to Belgium , in the four quarters to the end of Q3 2023
Goods | Value (£ billion ) |
---|---|
Medicinal & pharmaceutical products | |
Refined oil | |
Cars | |
Gas | |
Organic chemicals |
Source:
ONS Trade in goods: country-by-commodity exports
Last updated: February 2024
Download the latest trade and investment factsheet for Belgium.
Top five UK services exported to Belgium , in the four quarters to the end of Q2 2023
Service | Value (£ billion ) |
---|---|
Other Business Services | |
Intellectual property [Note 5] | |
Travel | |
Transportation | |
Telecommunications, computer and information services |
Source:
ONS UK trade in services: service type by partner country, non-seasonally adjusted
Last updated: January 2024
Download the latest trade and investment factsheet for Belgium.
Total import value (into the UK from Belgium) and export value (from the UK into Belgium) over time
Year | Imports (£ billion ) | Exports (£ billion ) | Total trade (£ billion ) |
---|---|---|---|
2016 | 26.0 | 16.2 | 42.2 |
2017 | 27.9 | 19.6 | 47.5 |
2018 | 28.6 | 19.8 | 48.4 |
2019 | 28.2 | 18.5 | 46.7 |
2020 | 24.8 | 15.6 | 40.4 |
2021 | 25.8 | 20.7 | 46.5 |
2022 | 32.3 | 25.1 | 57.4 |
Source:
ONS UK total trade: all countries, seasonally adjusted
Last updated: January 2024
Total trade is the sum of all exports and imports over the same time period.
Download the latest trade and investment factsheet for Belgium.
Belgium: at a glance
Economic growth
3.2%
Actual figure (IMF, 2022)
The UK is 4.1% (IMF, 2022, actual figure)
GDP per capita
$49,843
Actual figure (IMF, 2022)
The UK is $45,461 (IMF, 2022, projected figure)
Currency
Euro
Business languages
French, Dutch, German, English
Time zone
GMT +1
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Opportunities for exporters
There are opportunities for UK companies across a broad range of industries. Our trade advisers in Belgium have identified particular opportunities for UK businesses in the following sectors:
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Due to the nuclear phase-out, renewable energy is set to become an even more important part of Belgium’s future energy mix. There is a substantial role for offshore wind as Belgium already has 2.2 gigawatts installed, ranking fourth in EU-27 in terms of installed offshore wind capacity (Wind energy in Europe, 2022 stats).
Offshore wind
In addition to the already installed 2.2 gigawatts offshore wind capacity, Belgium plans to award another 3.5 gigawatts through a competitive tender process. This will provide opportunities for companies with experience in offshore wind development, construction, operations and maintenance.
Access to global market leaders
Belgian project developers like Parkwind, DEME Concessions and Elicio are involved in projects in, for example, Ireland, Germany and Asia. In DEME and Jan De Nul, Belgium has 2 global leaders in offshore energy development and construction. They’re involved in growing markets and can offer supply chain opportunities for UK businesses.
Hydrogen - CCUS
The Belgian hydrogen strategy (FPS Economy, 2023) includes substantial investments in hydrogen and carbon capture, utilisation and storage (CCUS) transport infrastructure. It also includes investment in an operational electrolysis capacity of minimum 150 megawatts by 2026.
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Both Belgium and the UK share an appetite for high-quality food and drink and a willingness to sample each other’s culinary delicacies. Every 2 years, the British Embassy to Belgium is proud to organise the successful British Pavilion at Tavola, the quintessential Fine Food Fair in the Flemish city of Kortrijk. This bi-annual fair provides an opportunity to a careful selection of high-standard UK F&D exporters to connect to Benelux buyers, importers and distributors, and introduce their products to a broader international audience.
High-standard products
Belgians love to explore new products and taste the world. Traditional food and drink products are still of interest to shoppers in Belgium. However, ongoing exposure to Bake-off Shows, MasterChef programmes and foreign chefs introduced a plethora of new flavours, fragrances and innovative products abundant in the UK that many people in Belgium want to try out.
Demand for healthy and ‘free from’ products
There’s considerable demand in Belgium for tastier and healthier foods containing less salt, fat, sugar and also without gluten, dairy and eggs. New products on the market need to be innovative and healthy and cater to different lifestyles and allergies and at the same time ensure that the products and their packaging is sustainable.
Private label products
Private label products have become increasingly popular, mainly because the quality of these products has improved over the years. Private label products make up 40% of market share. Top brands face fierce competition not only from private label products but also from smaller, more niche brands.
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Located at the crossroads of Western Europe, Belgium enjoys a key position in the EU and in relation to international economies. With its ports, logistics, financial institutions and other critical infrastructure, Belgium provides UK technology developers and exporters ample opportunities for their products. The British Embassy to Belgium is currently focussing on introducing smart city technologies, telco solutions and financial technologies to the local market.
Service economy
In Belgium, the vast majority of the labour force belongs to the services sector. Within this broad area, the public sector, financial services, legal services, ICT and accountancy contribute significantly to the Belgian GDP. Trusted telephone companies like Proximus, Telenet and Orange roll out 5G networks and their future technologies. Major financial infrastructure providers with headquarters in Brussels, such as Swift and Euroclear, cater to the needs of international financial markets.
Global gateway
Belgium has a track record for business-to-business services and is renowned as a consumer test market. If you’re successful in Belgium, it’s likely you’ll also find success elsewhere in the EU. The logistical gateways to Europe, the ports of Antwerp, Zeebruges, Ostend and Ghent, provide opportunities to introduce, test and scale up new technologies. In addition, Belgium’s multicultural and multilingual population can ease access to other markets.
Political and financial centre
In addition to the 90 banks present in Belgium, over 700 banks and related financial institutions are registered in Belgium to carry out their activities in the country and across Europe. Belgium is valued as a hub for financial activity by diplomats, lobbyists, multinationals and expats. It offers considerable opportunities for start-ups and scale-ups who offer solutions for this industry.
Check for trade barriers
Trade barriers, such as tariffs or taxes, can raise costs, cause delays, or even stop you from exporting. Check for any issues that may impact your business when exporting.
Check duties and customs
Find information on how to export goods from the UK. View the duties, rules, restrictions, and the documents you need for your products.
Doing business in Belgium
Preparing to export
Taxation
The UK and Belgium have signed a double taxation agreement that ensures the same income is not taxed twice.
VAT
If you’re registered for VAT in the UK, it may be possible to zero-rate the goods you export to Belgium, provided certain conditions are met.
The standard rate of VAT is currently 21%. A reduced rate of 12% applies to social housing and agricultural products. A 6% tax rate applies to basic foodstuffs, water, hotel services, property restoration and certain other supplies.
You can find out more about paying taxes, including VAT, on the Belgian tax authority’s website.
Corporate tax
The corporation tax rate in Belgium is 25%.
Standards
Products and packaging should meet EU standards. The Belgian Bureau for Standardisation is responsible for developing, publishing and selling standards in Belgium.
Labelling
You should provide information for users in Belgium’s official languages of Dutch and French. Textile products must be labelled with information on fibre content. Ask the importer about further requirements for specific products.
Services regulations
Information on rules for selling services and business travel to Belgium is available on GOV.UK.
Trade barriers
Check for any reported barriers to trading with Belgium.
Report any trade barriers that are affecting your business so we can help fix them.
Operating in Belgium
Intellectual property
Intellectual property (IP) rights are territorial and rights granted in the UK do not provide protection elsewhere. You should consider getting IP protection abroad if you want to trade overseas or sell to overseas customers via the internet.
The Intellectual Property Office provides practical information to help you protect, manage and enforce your IP abroad. Further support for British businesses can be found through a network of IP attachés, based in key UK export markets.
Payment terms
The standard period for paying invoices in Belgium is 30 days, this is the scenario where the agreement between buyer and seller doesn’t state otherwise.
Contracting parties however can agree explicitly to shorten or expand the payment period, with expansion topped off to max 60 days.
Business culture
In general, Belgians have good compromise and negotiation skills. They appreciate a direct and logical communication style and have a flexible approach to forging win-win deals. One should avoid any confrontational or high-pressure tactic.
During meetings, it is usual to engage in small talk before discussing business. You should wait for your Belgian counterpart to initiate the business discussion. Belgians are professional and pragmatic and will appreciate a convincing and detailed presentation.
Punctuality and respect for deadlines are paramount. Meetings are usually well structured and efficiently run, and a pre-set agenda is followed.
Business cards are often used as introduction and are exchanged without formal ritual.
Belgian business dress code is conservative.
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