Luxembourg - Foreign trade



Luxembourg remains dependent on foreign trade, even though domestic demand has become an increasingly important factor in fueling the economy. The nation's trade position has weakened with the decline of the steel industry: between 1974 and 1981, imports grew by 55% while exports rose only 7%, as the trade balance swung into deficit. Between 1985 and 1992, imports grew by 42% and exports rose only 24%.

Trade with European nations accounted for 88.6% of imports and 88.7% of exports in 2000. With 23% of the total export volume in 2000, Germany was Luxembourg's biggest customer. Luxembourg imported more goods from Belgium (35%) than any other country.

Principal trading partners in 2000 (in millions of US dollars) were as follows:

Luxembourg

EXPORTS IMPORTS BALANCE
Germany 1,746 2,381 -635
France 1,569 1,280 289
Belgium 965 3,565 -2,600
United Kingdom 552 298 254
Italy 408 183 225
Netherlands 405 485 -80
United States 286 692 -406
Spain 207 71 136
Switzerland 107 264 -157
Austria 106 94 12
Also read article about Luxembourg from Wikipedia

User Contributions:

1
steve
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Apr 19, 2007 @ 12:12 pm
what are the main exports for this country? I am using this website because it is for a class and I need to find Some of the major exports.
2
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Mar 21, 2011 @ 7:19 pm
i need to know what what luxembourg imports and exports to what country and what exactily theyt import and export. This is for a schol project

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