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Pair · Q2 2026 · Aug 2025–Jul 2026

Goods, bank claims, portfolio holdings and direct investment between Japan and Belgium, each channel at its own period. Left, Japan to Belgium; right, Belgium to Japan.

Finance to trade

positions ÷ goods, both directions
Finance to trade6.5×positions ÷ goods, both directions
Financial positions, both directions62.1USD bn
Goods, both directions9.6USD bn

Bank, and positions in both directions over goods trade in both directions; financial centres show very high ratios because they hold securities for others.

Positions at the periods above, goods in the 12-month window. Calculations: datasteg.

The pair through time

2006–Jul 2026

Each channel at its own period on one time axis: goods every month (12-month windows), bank claims every quarter, portfolio holdings every half year, direct investment every year, and below them the finance-to-trade ratio by quarter. Solid lines are reported flows, dashed stretches estimated; the band between a goods line and its other report is the mirror gap where both reports exist. A month with no goods line is one where the pair fell below trade-flow’s 1,500 largest flows.

SinceJapan → BelgiumBelgium → Japanother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2026 · 9.6 / –01020Bank claims · quarterly · USD bnQ2 2026 · – / 13.701325Portfolio holdings · half-yearly · USD bnDec 2025 · 18.2 / 6.002550Direct investment · annual · USD bn2024 · 23.6 / 0.602550Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2024 · 7.8×0.0×5.0×10×20062008201020122014201620182020202220242026
Sources

The ratio starts in 2009, when the direct-investment survey begins: bank claims at the quarter, portfolio and direct investment at their latest period at or before it, goods in the 12 months to the quarter end. Calculations: datasteg global-network.

Goods Japan → Belgium

Aug 2025–Jul 2026

exports of Japan to Belgium, 12 months

Exports, 12 months9.6USD bnspliced
–importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Goods Belgium → Japan

Aug 2025–Jul 2026

exports of Belgium to Japan, 12 months

Exports, 12 months–Below the backbone of 1,500 flows
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Japan → Belgium

Q2 2026

loans and deposits of banks in Japan on residents of Belgium

Position–Not reported
Flow in the quarter–
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

Belgium → Japan

Q2 2026

loans and deposits of banks in Belgium on residents of Japan

Position13.7USD bn
Flow in the quarter−1.3USD bnas published by the BIS
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

Japan → Belgium

Q4 2025

securities issued in Belgium held by investors in Japan

Total18.2USD bn
Equity2.6USD bn
Debt securities15.6USD bn
Sources

Holder to issuer, Q4 2025.

Belgium → Japan

Q4 2025

securities issued in Japan held by investors in Belgium

Total6.0USD bn
Equity4.0USD bn
Debt securities2.0USD bn
Sources

Holder to issuer, Q4 2025.

Japan → Belgium

2024

position of investors in Japan in Belgium

Position23.6USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.

Belgium → Japan

2024

position of investors in Belgium in Japan

Position0.6USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.