Belgium posted a trade deficit of EUR 1,082.5 million in December of 2018, switching from a EUR 675.6 million surplus in the corresponding month of the previous year. It was the first trade gap recorded since January of 2017. Imports decreased 2.2 percent from a year earlier to EUR 28,715.5 million, mainly due to lower purchases from EU countries (-6.1 percent); while exports fell at a faster 8 percent to EUR 27,633 million, as shipments dropped to both EU countries (-7 percent) and non-EU countries (-10.5 percent). Considering 2018, the trade surplus narrows sharply to EUR 13.6 billion from EUR 19.1 billion in 2018, as exports went up 4.1 percent to EUR 286.4 billion and imports increased 4.3 percent to EUR 243.6 billion. Balance of Trade in Belgium averaged 1070.69 EUR Million from 1993 until 2018, reaching an all time high of 2896.60 EUR Million in September of 2013 and a record low of -1082.50 EUR Million in December of 2018.
Balance of Trade in Belgium is expected to be 2400.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Belgium to stand at 980.00 in 12 months time. In the long-term, the Belgium Balance of Trade is projected to trend around 1090.00 EUR Million in 2020, according to our econometric models.