Key Market Indicators
Belgian Nickel Exports are projected to decrease to approximately $268 million by 2028, down from around $297 million in 2023. This marks an average annual decline of 1.7%. The trend of declining supply has been consistent since 2004, with Belgium's exports falling at the same annual rate. In the global ranking for 2023, Belgium stood at the 21st position. China led the ranking with the highest export value at about $297 million. Following closely were Canada, Russia, and Malaysia, occupying the 2nd, 3rd, and 4th spots, respectively. On the import side, Belgian Nickel Imports are expected to drop to roughly $470 million by 2028 from approximately $498 million in 2023, reflecting an average annual decrease of 0.9%. Since 2004, Belgium's demand for nickel has also seen a decline, averaging a 2% decrease each year.
