Luxembourg Trade Deficit Eases

Luxembourg recorded a trade deficit of EUR 0.91 billion in December of 2025, narrowing slightly from the EUR 1.15 billion gap in the corresponding period of the previous year. Exports surged by 14.9% annually to EUR 1.41 billion, supported by a surge in manufacturing goods from raw materials (14.4% to EUR 179 million) and other manufacturing goods (75.6% to EUR 183 million). In turn, imports fell by 3.9% to EUR 2.12 billion, pressured by declines in fuels due to lower prices (-21.4% to EUR 188 million). Imports to the US sank by 82.5% to 54.6 million due to the tariffs imposed by the White House and countermeasures by the EU.

Luxembourg’s trade deficit widened to EUR 0.88 billion in November 2025 from EUR 0.81 billion in the same month of the previous year. Imports increased 2% year-on-year to EUR 2.09 billion, supported by higher purchases of transportation equipment (7.2%), machinery and equipment (20.3%), and chemicals and chemical products (3.3%). Imports mostly came from Japan and other Asian countries, although notable declines were recorded from Germany, Belgium, and France. On the other hand, exports fell 2.8% year-on-year to EUR 1.21 billion, dragged down by lower sales of base metal manufactures (-13.5%), machinery and equipment (-9.8%), and chemicals and chemical products (-1.9%). Exports declined the most to Germany and France, while rising to Belgium.

Luxembourg’s trade deficit widened to EUR 1.10 billion in October 2025 from EUR 0.81 billion in the corresponding month of the previous year, as imports rose much faster than exports. Imports grew 16% year-on-year to EUR 2.46 billion, largely driven by increased purchases of machinery and equipment (123.8%) and food products and live animals (9.2%). Most imports came from France (7.7%). Meanwhile, exports rose 3.4% to EUR 1.36 billion, primarily due to higher sales of other manufactured goods classified by raw material (6.8%) and machinery and equipment (1.3%). However, these increases were partly offset by a 13.9% decline in exports of manufactured articles made of base metals. Exports were mainly directed to Germany (0.8%) and Belgium (10.8%).