emirates7 - Belgium’s foreign trade continued to a deficit from March to May, according to figures released by the National Bank of Belgium. During this period, imports dropped by 4.2%, while exports saw a smaller decline of 2.8%.
The reduction in exports was largely due to lower energy prices, which accounted for a 2.5 percentage point decrease in the total export figure. The bank emphasized that this decline was mostly driven by price changes, as the volume of exports remained relatively steady.
Trade with the United States showed contrasting trends: exports to the U.S. dropped by 9.8%, whereas imports from the U.S. rose by 11.6%.
The reduction in exports was largely due to lower energy prices, which accounted for a 2.5 percentage point decrease in the total export figure. The bank emphasized that this decline was mostly driven by price changes, as the volume of exports remained relatively steady.
Trade with the United States showed contrasting trends: exports to the U.S. dropped by 9.8%, whereas imports from the U.S. rose by 11.6%.