The export value of Works of Art, Collectors Pieces, and Antiques from Belgium has shown significant fluctuations over the past years. Between 2013 and 2023, the market experienced intermittent periods of growth and decline. Notably, from 2013 to 2017, the export value saw a marked increase, although this was punctuated by a downturn in 2015. The largest dip occurred in 2020, with a significant drop of 58.56% compared to the previous year, likely attributable to the global disruptions caused by the COVID-19 pandemic. In contrast, 2021 witnessed a substantial recovery with a year-on-year growth of 132.65%. The increase continued into 2022 and 2023, albeit at a more moderate pace.
As of 2023, the export value stood at 266.23 million US dollars. In the last two years (2022-2023), the variation rates of 14.69% and 3.06% indicate a relatively stable yet slower growth trajectory compared to the earlier years. The Compound Annual Growth Rate (CAGR) over the last five years has been 2.3%, suggesting a steady but modest increase moving forward.
Future trends to watch for include potential impacts from economic policies, shifts in global demand for art and antiques, and technological advancements influencing market dynamics. Close attention to geopolitical events and fluctuations in global wealth distribution could also be critical in shaping the future export landscape for Belgium's art and antique market.
