Belgium’s trade deficit persists amid decline in imports, exports

Belgium’s foreign trade balance remained in deficit between March and May, according to data published by the National Bank of Belgium. Imports fell by 4.2 percent, while exports declined by 2.8 percent during the period.

The drop in exports was mainly attributed to falling prices in the energy sector, which contributed –2.5 percentage points to the overall decline.

The bank noted that the decrease was largely price-driven, as export volumes remained relatively stable.

Exports to the United States fell by 9.8 percent, while imports from the US increased by 11.6 percent.