Luxembourg recorded a trade deficit of EUR 0.54 billion in November of 2020, lower than the EUR 0.71 billion trade gap a year earlier. Exports edged up 0.8 percent to EUR 1.07 billion, leveraged by an 18.4 percent increase in miscellaneous manufactured goods, followed by transport equipment (9 percent) and machinery and equipment (1.3 percent). On the downside, exports for manufactured goods of primary materials dropped 9.5 percent, and other manufactured goods fell 2.2 percent. Besides, exports of chemical and related products were the same. Imports fell 9 percent to EUR 1.61 billion, dragged by an overall decrease, mainly led by a 37.9 percent plunge in mineral fuels and lubricants, followed by manufactured goods of primary materials (12.6 percent), machinery and equipment (8.8 percent), and transport equipment (8.6 percent). source: Banque Centrale du Luxembourg

Balance of Trade in Luxembourg averaged -0.35 EUR Billion from 1988 until 2020, reaching an all time high of -0.03 EUR Billion in May of 1989 and a record low of -1.02 EUR Billion in October of 2011. This page provides the latest reported value for - Luxembourg Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Luxembourg Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Balance of Trade in Luxembourg is expected to be -0.94 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 -0.94 in 12 months time. In the long-term, the Luxembourg Balance of Trade is projected to trend around -0.94 EUR Billion in 2022, according to our econometric models.

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Luxembourg Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-0.54 -0.54 -0.03 -1.02 1988 - 2020 EUR Billion Monthly
Current Prices, NSA

Calendar GMT Actual Previous Consensus TEForecast
2020-10-26 03:00 PM Aug €-0.42B €-0.56B
2020-11-25 02:00 PM Sep €-0.48B €-0.61B € -0.8B
2020-12-18 10:00 AM Oct €-0.53B €-0.46B €-0.52B
2021-01-26 02:40 PM Nov €-0.54B €-0.54B
2021-02-25 10:00 AM Dec €-0.54B
2021-03-26 10:00 AM Jan
2021-04-23 09:00 AM Feb
2021-05-26 09:00 AM Mar

News Stream
Luxembourg Posts Smallest Trade Gap in Over 3 Years
Luxembourg’s trade deficit narrowed to EUR 0.26 billion in April 2020 from EUR 0.55 billion in the corresponding month of the previous year. It was the smallest trade gap since January 2017, amid the coronavirus pandemic. Imports slumped 39.4 percent year-on-year to an over ten-year low EUR 1.08 billion mainly due to lower purchases of transport equipment (-69 percent); machinery and equipment (-25.7 percent); miscellaneous manufactured articles (-37.9 percent); mineral fuels and lubricants (-60.9 percent); and food products (-11.1 percent). Exports plunged 33.2 percent to an over nine-year low of EUR 0.82 billion, as sales dropped for machinery and equipment (-31.8 percent); transport equipment (-70.9 percent); manufactured articles (-40.3 percent); chemicals and related products (-2.7 percent) and miscellaneous manufactured articles (-27 percent).
Luxembourg Trade Gap Shrinks in March
The trade deficit in Luxembourg narrowed to EUR 0.52 billion in March of 2020 from EUR 0.62 billion in the corresponding month of the previous year, as imports fell 13.4 percent to EUR 1.57 billion while exports went down at a softer 11.4 percent to EUR 1.05 billion. Considering the first quarter of 2020, the country’s trade gap shrank to EUR 1.55 billion from EUR 1.74 billion, with imports dropping 7.8 percent and exports declining 6 percent.

Luxembourg Balance of Trade
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.