Luxembourg recorded a trade deficit of 0.54 EUR Billion in October of 2019. 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 -0.78 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 2020, according to our econometric models.

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Luxembourg Balance of Trade
Actual Previous Highest Lowest Dates Unit Frequency
-0.54 -0.50 -0.03 -1.06 1988 - 2019 EUR Billion Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-09-25 08:50 AM Jul €-0.54B €-0.51B €-0.44B
2019-10-25 10:00 AM Aug €-0.60B €-0.54B €-0.49B
2019-11-25 09:50 AM Sep €-0.50B €-0.51B € -0.5B
2019-12-20 10:00 AM Oct €-0.54B €-0.50B
2020-01-24 10:00 AM Nov €-0.54B €-0.58B


News Stream
Luxembourg Trade Gap Shrinks in June 2019-08-23
Luxembourg’s trade gap narrowed to EUR 480 million in June of 2019 from EUR 566 million in the same month of the previous year. Exports fell 2.2 percent from a year earlier to 1,1120.6 million and imports dropped at a faster 6.5 percent to EUR 1,600.6 million. Considering the second quarter of 2019, the trade deficit shrank to EUR 1,607.8 million from EUR 1,713 million a year earlier, as exports rose 5.4 percent to EUR 3,485.8 million and imports went up 1.5 percent to EUR 5,093.5 million.

Luxembourg Trade Gap Widens in May 2019-07-26
The trade deficit in Luxembourg rose to EUR 592.1 million in May of 2019 from EUR 580.6 million in the same month of the previous year. Exports climbed 3.2 percent from a year earlier to EUR 1,145.5 million, boosted by sales of machinery and equipment (+6.5 percent); transport equipment (+15.1 percent); chemicals and related products (+5.1 percent) and miscellaneous manufactured articles (+12.3 percent). Meantime, imports went up at a softer 2.8 percent to EUR 1,737.6 million, mainly due to higher purchases of transport equipment (+0.1 percent); machinery and equipment (+2.8 percent); miscellaneous manufactured articles (+36.3 percent) and mineral fuels and lubricants (13.9 percent).

Luxembourg Trade Gap Narrows in April 2019-06-25
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.

Luxembourg Trade Deficit Shrinks in March 2019-05-24
The trade gap in Luxembourg narrowed to EUR 595.3 million in March of 2019 from EUR 602 million in the corresponding month of the previous year. Exports decreased 0.2 percent from a year earlier to EUR 1,171.2 million while imports fell at a faster 0.5 percent to EUR 1,766.4 million. Considering the first quarter of 2019, the trade deficit widened to EUR 1,710 million from EUR 1,695 million in the same period of 2018, as exports climbed 2.9 percent to EUR 3,337 million and imports rose 2.2 percent to EUR 5,047 million.

Luxembourg Trade Gap Narrows in January 2019-03-28
Luxembourg's trade deficit decreased to EUR 0.54 billion in January 2019 from EUR 0.58 billion in the same month a year ago. Exports grew 4 percent to EUR 1.10 billion, mainly driven by sales of mineral fuels, lubricants (51.2 percent); machinery & equipment (9.2 percent); other manufactured articles (4.5 percent); chemicals (4 percent); transport equipment (7.4 percent) and miscellaneous manufactured articles (9.8 percent). Meantime, imports rose at a slower 0.3 percent to EUR 1.65 billion, as higher purchases of machinery & equipment (12.8 percent); chemicals (7.7 percent) and mineral fuels, lubricants (20.8 percent) were partly offset by a decline in the ones of transport equipment (-32.2 percent).

Luxembourg Trade Deficit Widens in December 2019-02-25
The trade gap in Luxembourg rose slightly to EUR 674.5 million in December of 2018 from EUR 628.1 million in the same month of the previous year. Exports increased 4.7 percent to EUR 974.1 million, boosted by higher sales of machinery & equipment (11.3 percent); manufactured goods of primary materials (6.6 percent) and chemicals & related products (3.3 percent). Meanwhile, imports advanced at a faster 5.8 percent to EUR 1,648.7 million, mainly due to higher purchases of manufactured goods of primary materials (80.5 percent); chemicals & related products (4.9 percent) and other manufactured goods, classified by material (84.8 percent). On the other hand, imports fell for machinery & equipment (-4.1 percent) and transport equipment (-21.5 percent). Considering 2018, the trade deficit widened to EUR 6,807.3 million from EUR 6,323.3 million in 2017, as imports climbed 4.8 percent to EUR 19,904 million while exports wet up at a slower 3.4 percent to EUR 13,096.7 million.


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.

Luxembourg Trade Last Previous Highest Lowest Unit
Balance of Trade -0.54 -0.50 -0.03 -1.06 EUR Billion [+]
Current Account -271.60 1131.20 2717.60 -2221.30 EUR Million [+]
Current Account to GDP 4.80 4.90 12.60 4.80 percent [+]
Imports 1.73 1.63 2.00 0.36 EUR Billion [+]
Exports 1.18 1.12 1.21 0.33 EUR Billion [+]
External Debt 3730886.20 3736980.23 3928297.76 678052.57 EUR Million [+]
Capital Flows -374.90 1046.40 3396.20 -2305.10 EUR Million [+]
Gold Reserves 2.24 2.24 2.39 2.20 Tonnes [+]
Foreign Direct Investment -42226.10 -102054.40 321172.90 -302842.00 EUR Million [+]