The import of hydraulic vane pumps to Belgium has experienced significant fluctuations over the past decade. After peaking in value in 2014 at 172.58 thousand items, the volume saw a sharp decline by 56.13% in 2015, followed by moderate recovery and another peak in 2017 at 170.82 thousand items. However, since then, the trend has generally been downward with some recovery observed in 2022 and 2023.
As of 2023, the import value stood at 74.69 thousand items. Over the last two years, there was a 37.94% increase in 2022 and a further 3.27% rise in 2023. The CAGR over the previous five years indicates a decline of -4.05%, reflecting overall negative growth. Looking forward, the forecasts suggest a continued slight decline with an expected CAGR of -1.48% over the next five years.
Future trends to watch for:
- The impact of technological advancements on production and demand.
- Changing trade policies and their effects on import volumes.
- Economic conditions in Belgium and their influence on industrial demand.
