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.
|Balance on goods||-2,399|
|Balance on services||6,237|
|Balance on income||-1,639|
|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||…|