Nestled in Western Europe and bordered by Germany, France, and Belgium, the Grand Duchy of Luxembourg recorded global exports worth US$15.6 billion in 2024.

That total reflects a 15.8% increase from $13.5 billion in 2020, though it marks a -4.3% year-over-year decline compared to $16.3 billion in 2023.

Luxembourg operates under the euro, which remained almost stable in 2024 with only a 0.02% gain against the US dollar. The marginally stronger European currency made Luxembourg's export prices in US dollars slightly more attractive to overseas buyers.

Luxembourg's Key Trade Partners

Recent statistics reveal that 80.3% of Luxembourg's export shipments were destined for the following countries:

1.Germany: 24.9% of total

2.France: 15.4%

3.Belgium: 13.1%

4.Netherlands: 6.3%

5.Italy: 4.6%

6.Spain: 3.3%

7.United States: 2.7%

8.Poland: 2.6%

9.United Kingdom: 2.3%

10.Austria: 1.8%

11.Switzerland: 1.62%

12.Mainland China: 1.6%

From a continental perspective, 86.2% of Luxembourg's exports by value went to European countries, 6.8% to Asian buyers, and 4.3% to North America.

As a core institutional hub of the European Union, Luxembourg's export market remains heavily tied to EU member states, which purchased 80.6% of its goods.

Smaller shares were distributed to Africa (1.8%), Latin America (0.7% excluding Mexico), and Oceania (0.2% led by Australia and New Zealand).

With a population of about 672,000 residents, Luxembourg's $15.6 billion in exports equals around $23,300 per person, down from $26,125 per capita in 2023.

Top 10 Luxembourg Export Categories

The following product groups generated the highest revenues for Luxembourg's export sector in 2024:

1.Machinery including computers: US$2 billion (12.9%)

2.Plastics, plastic items: $1.61 billion (10.3%)

3.Vehicles: $1.58 billion (10.1%)

4.Iron and steel: $1.3 billion (8.4%)

5.Articles of iron or steel: $954.5 million (6.1%)

6.Rubber and rubber goods: $771.9 million (4.9%)

7.Dairy, eggs, honey: $736.8 million (4.7%)

8.Electrical machinery and equipment: $666.6 million (4.3%)

9.Aluminum: $531.2 million (3.4%)

10.Paper and paper products: $433.1 million (2.8%)

These ten categories together accounted for 67.9% of Luxembourg's export value in 2024.

Among them, dairy, eggs, and honey were the fastest-growing products, up 2.7% year-on-year. Paper and paper-based goods also gained 1.5%.

The steepest decline was in electrical machinery, falling -21.2% from 2023.

Luxembourg's Most Valuable Products (by 4-digit HTS code)

Breaking down further, some of Luxembourg's export highlights include:

1.Iron or non-alloy steel angles, shapes, and sections (6.7%)

2.Cars (5.2%)

3.New rubber tires (4.4%)

4.Self-adhesive plastic rolls (3.2%)

5.Iron or steel sheet piling (3.1%)

6.Coated or laminated non-woven materials (2.7%)

7.Cellulose fiber paper (2.5%)

8.Cheese or curd (2.5%)

9.Machines for producing rubber or plastic goods (2.2%)

10.Trailers (2.2%)