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.
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).
The 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.
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.
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.
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.