Luxembourg - Balance of payments



Luxembourg enjoyed a favorable trade balance from 1951 until 1975, when rising energy costs and structural weakness in the steel industry led to deterioration in terms of trade. The overall balance of payments has, however, tended to show a surplus, mainly because of income from banking services. The levels of imports and exports remain relatively stable, with the level of imports fluctuating significantly only when large capital purchases are made in the aviation sector.

The US Central Intelligence Agency (CIA) reports that in 2000 the purchasing power parity of Luxembourg's exports was $7.85 billion while imports totaled $10.25 billion resulting in a trade deficit of $2.4 billion.

The International Monetary Fund (IMF) reports that in 2001 Luxembourg had exports of goods totaling $9 billion and imports totaling $11.4 billion. The services credit totaled $19.9 billion and debit $13.7 billion. The following table summarizes Luxembourg's balance of payments as reported by the IMF for 2001 in millions of US dollars.

Luxembourg

Current Account 1,674
Balance on goods -2,399
Balance on services 6,237
Balance on income -1,639
Current transfers -524
Capital Account
Financial Account
Direct investment abroad
Direct investment in Luxembourg
Portfolio investment assets
Portfolio investment liabilities
Other investment assets
Other investment liabilities
Net Errors and Omissions
Reserves and Related Items
Also read article about Luxembourg from Wikipedia

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