The imports of ores and metals in Belgium have shown a mixed trend over the past decade. While there were declines in the earlier part of the period, imports saw a strong resurgence from 2018 to 2021, peaking in 2021. However, this was followed by a significant drop in 2022. The year 2023 witnessed a slight recovery with a year-on-year growth of 2.06% and a current value standing at 4.93 Unit of Goods Imports. The 5-year compound annual growth rate (CAGR) ending in 2023 stands at 0.92%. Forecasts suggest a slight downward trend with a forecasted 5-year CAGR of -0.56% as we move towards 2028.
Future trends to watch for include potential fluctuations in global metal prices, environmental regulations influencing mining and metal processing, and technological advancements in industrial manufacturing that could impact the demand for ores and metals in Belgium.
