Xifres de comerç exterior de Luxemburg

Foreign Trade in Figures

Due to its small size and its location, Luxembourg is very open to foreign trade, which represented 390.3% of its GDP in 2020 (the highest level in the world - World Bank). The country mainly exports commercial services, especially those related to finance. Concerning merchandise, the main exports are angles, shapes and sections of iron or non-alloy steel; motor cars; tyres; and sheet piling of iron or steel; whereas imports are led by cars, petroleum oils, ferrous waste and scrap, and medicaments (Comtrade, latest data available).

Luxembourg is very dependent on its EU partners: almost 80% of total imports of goods came from other member states, and trade activities with its three neighbouring countries represented more than 50%. Its main customers are Germany (26%), France (16.3%) and Belgium (12.4%); the main suppliers being Belgium, Germany and France, which account for 24.3%, 24.1% and 10.7% of total imports, respectively. Luxembourg is trying to diversify its exports outside the European Union, and the country currently has significant trade relations with Asian and Middle Eastern nations.
 
 
In 2020, the country exported USD 110.2 billion of services (-2.2% y-o-y), importing USD 86.4 billion (-3.1% - data by WTO). Although the merchandise trade balance is negative (with imports totalling USD 13.8 billion against USD 20.9 billion of exports), Luxembourg has an overall positive trade balance, estimated at 33% of its GDP by the World Bank (the highest ratio in the world in 2020), while the trade balance of goods is structurally negative. According to preliminary data from the Banque centrale du Luxembourg, in the first half of 2021, the current account showed a surplus of EUR 937 million, a decrease of EUR 2,805 million vis-à-vis the same period of the previous year. Both exports and imports of goods showed significant increases of around 11% and 15% respectively. As for services, exports increased by 10% and imports by 11%.