The copper trade balance in Belgium has exhibited significant fluctuations over the past decade. In 2023, the trade balance stood at 65.91 thousand metric tons. Key trends include a notable peak in 2018 and subsequent declines. The year-on-year variation highlights pronounced ups and downs, with a substantial increase of 50.67% in 2014 and a sharp drop of 59.34% in 2019. Over the last two years, variations have stabilized with modest changes of -7.47% in 2022 and +2.33% in 2023. The compound annual growth rate (CAGR) over the past five years is -1.13%, indicating a general downtrend.
Future trends to watch for include:
• Projections from 2024 to 2028 suggest a gradual decline in the trade balance, with an average annual decrease of 1.13%.
• Monitoring demand and supply dynamics in the global copper market, as well as economic policies in Belgium, will be crucial for understanding this trend.