Luxembourg Balance of Trade

Last Release

Jul 31, 2024

Actual

-0.72

Units In

EUR Billion

-0.61

Frequency

Monthly

Next Release

Oct 25, 2024

Time to Release

28 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
-0.53 Sep 2023	-1.02 Oct 2011	-0.38 EUR Billion	1988-2024	N/A

Luxembourg is an export-intensive economy. The country has traditionally imported most of its consumer goods and exported industrial products (steel). Exports now also include chemical and rubber products, finished glass and the most profitable financial services. The nation remains dependent on energy imports. European Union is by far its largest trading partner, accounting for about 84% of exports and 87% of imports.

Latest Updates

Luxembourg's trade deficit widened to EUR 0.72 billion in July 2024 from EUR 0.59 billion in the same month last year. Imports rose 5.8 percent to EUR 1.95 billion due to purchases of chemical products (20.9 percent), fuels & lubricants (13.8 percent), and transport equipment (3.9 percent). Imports were up mostly from the EU (6.2 percent) and the US (35.4 percent). Meanwhile, exports fell 1.9 percent to EUR 1.23 billion, driven by lower sales of other manufacturing goods (-12.4 percent) and machinery & equipment (-9.5 percent). Exports fell to Germany (-6.7 percent) and the US (-22.3 percent).