Tobacco Market Overview in Belgium
In value terms, tobacco production rose markedly to $ in 2019 estimated in export prices. Over the period under review, the total production indicated a slight increase from 2007 to 2019: its value decreased at an average annual rate of -% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2015 indices. The pace of growth appeared the most rapid in 2016 with an increase of % against the previous year. Over the period under review, production hit record highs at $ in 2009; however, from 2010 to 2019, production remained at a lower figure.
The revenue of the tobacco market in Belgium soared to $ in 2019, jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.