Luxembourg Balance of Trade

Last Release

Jan 31, 2025

Actual

-0.54

Units In

EUR Billion

-0.88

Frequency

Monthly

Next Release

Apr 25, 2025

Time to Release

25 Days 5 Hours

Highest	Lowest	Average	Date Range	Source
-0.53 Sep 2023	-1.02 Oct 2011	-0.38 EUR Billion	1988-2025	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 narrowed to EUR 0.54 billion in January 2025, from EUR 0.68 billion in the corresponding month a year ago, as exports rose while imports fell. Exports grew by 1.1% year-on-year to EUR 1.21 billion, driven mainly by higher sales of crude materials, inedible, oils, fats and waxes (27.3%), mineral fuels and lubricants (25.3%), and beverages and tobacco (21.4%). Export growth was strongest to the U.S. (16.7%), followed by Germany (11.1%) and Belgium (7.1%). Meanwhile, imports dropped by 6.9% to EUR 1.75 billion, primarily due to a sharp drop in purchases of machinery and equipment (-27.8%) and mineral fuels and lubricants (-26.5%). Import declines were particularly notable from the U.S. (-66.6%) and Japan (-47.5%).