Trade & investment

US-Belgium bilateral trade and investment relationship

US-Belgium bilateral trade and investment relationship

The bilateral trade and investment relationship between Belgium and the United States is significant for both partners. The US is the largest source of foreign direct investment (FDI) in Belgium from outside of Europe. According to EY's Belgian Attractiveness Survey, US companies started 46 of the 245 new foreign investment projects in Belgium in 2021 or 18.7% of the total. This investment translates into jobs in the local economy - the 46 new projects last year resulted in the creation of 1,696 new jobs.

New FDI projects in Belgium
  2015 2016 2017 2018 2019 2020 2021
United States sourced 39 31 40 51 45 27 46
Total 211 200 215 278 267 227 245

Source: EY

 

Direct investment positions

The total US investment stock in Belgium reached $63 billion in 2019. US investment in Belgium is heavily concentrated in the manufacturing sector, which makes up 57% of the investment stock. The Belgian investment stock in the US is more than $65 billion, with a similar predominance of the manufacturing sector.

Bilateral trade

Trade links between the US and Belgium are strong. The US is the fifth largest trading partner of Belgium - and the most important outside of the EU. 

In 2019, the US exported $34.7 billion worth of goods and $5.6 billion worth of services to Belgium, for total exports of $40.3 billion. That same year, Belgium exported $20.3 billion worth of goods and $4.4 billion worth of services to the US, for total exports of $24.7 billion. The US therefore has a trade surplus with Belgium in excess of $15 billion.

Trade is particularly intense between Belgium and New York, Pennsylvania and Texas, among other US states. The most traded goods between the two countries include chemical products, machinery and transportation equipment.

Invest in Belgium

A good resource for potential investors is the business.belgium.be portal maintained by the Belgian Federal Government, which provides useful information about doing business and investing in Belgium.

The Belgian Foreign Trade Agency (ABH-ACE) compiles trade-related statistics and helps Belgian companies identify opportunities abroad. The ABH-ACE also plays an important role in coordinating between the federal level, which is responsible for international relations, and the regions, which are responsible for foreign trade.

Belgium is a federal state divided into three regions – Brussels-Capital, Flanders and Wallonia. Each region has an agency responsible for trade and investment promotion.