Luxembourg
2021 Product Exports | Imports: $19.4B | $28.6B, 76 of 226 | 71 of 226
2021 Per Capita Product Exports | Imports: $30.4k | $44.8k, 8 of 219 | 5 of 219
2020 Service Exports | Imports : $135B | $88.7B, 9 of 65 | 15 of 65
Overview In 2021 Luxembourg was the number 76 economy in the world in terms of total exports and the number 71 in total imports.
Exports The top exports of Luxembourg are Iron Blocks ($1.37B), Cars ($696M), Rubber Tires ($677M), Gas Turbines ($475M), and Iron Sheet Piling ($469M), exporting mostly to Germany ($4.07B), France ($3B), Belgium ($2.16B), Netherlands ($1.37B), and Italy ($833M).
Imports The top imports of Luxembourg are Cars ($2.2B), Refined Petroleum ($1.8B), Computers ($1.08B), Scrap Iron ($1B), and Electricity ($642M), importing mostly from Germany ($7.29B), Belgium ($6.9B), France ($3.14B), China ($1.67B), and Netherlands ($1.56B).
Location Luxembourg borders Belgium, France, and Germany by land.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe 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.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe 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.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2021): Iron Blocks, $1.37B
Top Destination (2021): Germany, $4.07B
In 2021, Luxembourg exported a total of $19.4B, making it the number 76 exporter in the world. During the last five reported years the exports of Luxembourg have changed by $3.11B from $16.3B in 2016 to $19.4B in 2021.
The most recent exports are led by Iron Blocks ($1.37B), Cars ($696M), Rubber Tires ($677M), Gas Turbines ($475M), and Iron Sheet Piling ($469M). The most common destination for the exports of Luxembourg are Germany ($4.07B), France ($3B), Belgium ($2.16B), Netherlands ($1.37B), and Italy ($833M).
Market Growth
#permalink to sectionService Trade
#permalink to sectionService Trade
#permalink to sectionLuxembourg 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).
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionLuxembourg has a high level of specialization in Iron Sheet Piling (224), Iron Blocks (83), Polyamide Fabric (60.1), Iron Railway Products (31), and Boron (24.3). Specialization is measured using RCA, an index that takes the ratio between Luxembourg observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Luxembourg according to the product complexity index (PCI) are Metalworking Transfer Machines (2.18), Cermets (1.98), Electric Soldering Equipment (1.94), Non-Mechanical Removal Machinery (1.71), and Rubberworking Machinery (1.68). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Luxembourg according to the relatedness index, were Sawn Wood (0.26), Electricity (0.26), Scrap Lead (0.25), Excavation Machinery (0.25), and Other Prepared Meat (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
#permalink to sectionThe 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.
Diversification Frontier
#permalink to sectionThe 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.
