The trade deficit in Luxembourg shrank to EUR 534.3 million in April of 2019 from EUR 566.4 million in the same month of the previous year. Exports jumped 14.7 percent from a year earlier to EUR 1,204 million, boosted by sales of manufactured articles of base metal (7.7 percent); machinery & equipment (19.9 percent); transport equipment (55.1 percent) and chemicals & chemical products (10.4 percent). Shipments advanced mainly to Germany (3.4 percent); France (15.2 percent); Belgium (14.3 percent) and the US (97.1 percent). Meantime, imports rose at a softer 7.6 percent to EUR 1,738 million, mainly due to higher purchases of transport equipment (5.9 percent); machinery & transport (8 percent); chemicals & chemical products (3.8 percent) and mineral fuels & lubricants (22.6 percent). Imports went up mainly from Belgium (9.7 percent); France (1.2 percent); the US (32.2 percent) and Japan (8.9 percent); while those from Germany fell 1.7 percent. Balance of Trade in Luxembourg averaged -0.34 EUR Billion from 1988 until 2019, reaching an all time high of -0.03 EUR Billion in May of 1989 and a record low of -1.06 EUR Billion in September of 2012.
Balance of Trade in Luxembourg is expected to be -0.37 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Luxembourg to stand at -0.78 in 12 months time. In the long-term, the Luxembourg Balance of Trade is projected to trend around -0.94 EUR Billion in 2020, according to our econometric models.