Flanders’ exports reached record high in 2021
Goods exports from Flanders reached a record breaking 380.5 billion euros in 2021, an increase of more than a quarter compared to 2020, and 16% higher than the previous record set in 2018. This was revealed to Belga by Flanders’ Minister-President Jan Jambon and Flanders Investment & Trade (FIT).
The new record was reached despite a variety of challenges, like disruptions in global supply chains, supply shortages and rising raw material prices. Flanders’ exports grew faster than those from the Walloon Region (+19.7%) and the Brussels-Capital Region (+2.7%). Last year, Flanders accounted for almost 82% of Belgian exports.
The rise in exports is in line with the upward trend of world trade. Flanders’ exports (+27.6%) grew faster than the European average (+18.9%), and major export-driven countries such as Germany (+14.1%), the Netherlands (+20%), France (+15.8%), Italy (+18.2%) and Spain (20.7%). It remains to be seen if this trend will continue in 2022, due to the economic impact of the war in Ukraine.
Central role for COVID-19 vaccines
The production and distribution of COVID-19 vaccines played a central role in Flanders’ overall export growth. Pharmaceutical and chemical products top the list of exported goods, followed by mineral products, machinery and electronic equipment, transport equipment and plastics.
The main destinations of Flanders’ export products were other EU countries, for a total of 64,5% of all goods. More than half of all goods went to five countries: Germany, The Netherlands, France, the UK and the US. A notable country in the top 10 is Japan. Exports to the Asian island rose 163.5% year-on-year, primarily due to its huge orders of COVID-19 vaccines.
Post-Brexit UK accounted for about 11%, a 2.6% drop compared to 2020. The former member of the EU is one of the rare examples of negative growth in the list of top Flemish export destinations. Overall, exports to other continents grew strongly, with Africa, Oceania and Asia seeing the biggest gains.
Jambon praises “ingenuity and resilience” of Flanders-based companies
“Flanders’ exports recovered in 2021, achieving a record figure and representing an important socio-economic boost. This shows that Flanders-based export companies are agile in the face of the challenges posed by the pandemic and Brexit, among other things”, says Claire Tillekaerts, CEO of FIT.
Flanders’ Minister-President Jan Jambon praised the “ingenuity and resilience” of Flanders-based companies during crisis-sensitive times. “This is evidenced by the way businesses and exporting companies in Flanders are once again putting themselves on the map by achieving historically high export figures, despite the challenging times associated with Brexit and the pandemic.”
But both Jambon and Tillekaerts remain cautious for 2022: “Following the start of the war in Ukraine, it is extremely difficult to predict whether exports from Flanders will also break records in 2022” said the CEO of FIL. “International trade will need time to reach a new equilibrium. Resilience, technological innovation, market diversification and risk spreading will only become more crucial in the near future”, added the Minister-President.
© BELGA PHOTO NICOLAS MAETERLINCK