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2023
Product
Exports | Imports $18.9B | $26.1B82 of 226 |  75 of 226
2023
Per Capita Product
Exports | Imports $28.4k | $39.1k11 of 220 |  4 of 220

About

Overview In 2023 Luxembourg was the number 82 economy in the world in terms of total exports and the number 75 in total imports.

Exports The top exports of Luxembourg are Iron Blocks ($1.28B), Gas Turbines ($1.06B), Rubber Tires ($885M), Iron Sheet Piling ($468M), and Cars ($468M), exporting mostly to Germany ($3.42B), France ($2.8B), Belgium ($1.59B), Netherlands ($1.35B), and Italy ($1.06B).

Imports The top imports of Luxembourg are Cars ($2.51B), Refined Petroleum ($1.79B), Electricity ($689M), Gas Turbines ($658M), and Packaged Medicaments ($620M), importing mostly from Belgium ($6.65B), Germany ($5.91B), France ($2.71B), Netherlands ($1.42B), and United States ($1B).

Location Luxembourg borders Belgium, France, and Germany by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Luxembourg.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Iron Blocks$1.28B
Top Destination (2023)Germany$3.42B

In 2023, Luxembourg exported a total of $18.9B, making it the number 82 exporter in the world. During the last five reported years the exports of Luxembourg have changed by $1.49B from $17.4B in 2018 to $18.9B in 2023.

The most recent exports are led by Iron Blocks ($1.28B), Gas Turbines ($1.06B), Rubber Tires ($885M), Iron Sheet Piling ($468M), and Cars ($468M). The most common destination for the exports of Luxembourg are Germany ($3.42B), France ($2.8B), Belgium ($1.59B), Netherlands ($1.35B), and Italy ($1.06B).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Hong Kong$159M (+ 19.8%)
Italy$147M (+ 16.1%)
United Kingdom$135M (+ 22.6%)
Fastest Growing Import Markets (2022 - 2023)
United States$299M (+ 42.6%)
United Arab Emirates$70.4M (+ 138%)
China$68.4M (+ 8.61%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Luxembourg Exports Services (2020)$135B
Luxembourg Imports Services (2020)$88.7B

In 2020, Luxembourg exported $135B worth of services. The top services exported by Luxembourg in 2020 were Financial services ($60.8B), Miscellaneous business, professional, and technical services ($30.8B), Merchanting and other trade-related services ($19B), Air transport ($3.42B), and Audiovisual and related services ($3.18B).

The top services imported by Luxembourg in 2020 were Financial services ($42.9B), Miscellaneous business, professional, and technical services ($17.4B), Royalties and license fees ($5.43B), Other transport ($5.36B), and Merchanting and other trade-related services ($5.25B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Most Specialized Products by RCA Index

Luxembourg has a high level of specialization in Iron Sheet Piling (249), Polyamide Fabric (94.3), Iron Blocks (88.8), Iron Railway Products (32.5), and Non-woven Textiles (32.3). Specialization is measured using RCA, an index that takes the ratio between Luxembourg observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Luxembourg according to the relatedness index, were Locomotive Parts (0.25), Rock Wool (0.25), Chemical Analysis Instruments (0.25), Centrifuges (0.25), and Railway Freight Cars (0.25). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Luxembourg is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Luxembourg. These are products that tend to be co-exported with the products that Luxembourg exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

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