Belgian trade with Middle East has fallen sharply due to war in Iran

New figures from the National Bank show that the war in Iran has had a clear negative impact on Belgian trade with a number of countries in the Middle East in recent months.

Exports of goods to Israel, the United Arab Emirates, Saudi Arabia and Iran fell by an average of 17 per cent between early February and the end of April compared with the same period last year. Exports to Iran fell by 63 per cent.

On the import side, trade with Qatar fell particularly sharply, stated the National Bank. That country is a major supplier of energy products. Belgian buyers did, however, find other suppliers, mainly in the United Kingdom and Canada, meaning there was no impact on total natural gas imports.

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Trade with Iran has been under pressure for years. Between 2017 and 2025, the value of Belgian imports and exports with Iran fell by around two-thirds. Imports from Iran consist mainly of plant products and plastics. Exports to Iran consist mainly of food, chemical products and machinery.

Total Belgian imports of goods fell by 2.7 per cent in value year-on-year in the three months to the end of April. Exports grew by 1.4 per cent. The difference is partly due to a sharp rise in diamond exports.

^{Illustration © PHOTO ANP / Hollandse Hoogte / Arnoud Lievense}

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