FX.co ★ Luxembourg Trade Deficit Narrows Sharply

Luxembourg’s trade deficit narrowed sharply to EUR 0.75 billion in March 2026, down from EUR 1.01 billion in the same month a year earlier. Exports increased by 7.3% year-on-year to EUR 1.40 billion, driven largely by higher sales of chemicals and chemical products (5.2%), manufactured goods classified chiefly by primary materials (8.8%), machinery and equipment (6.5%), and miscellaneous manufactured articles (23.9%). By destination, exports rose markedly to France (19.6%), Belgium (16.2%), Germany (8.5%), Japan (10.8%), and the United States (5.5%).

In contrast, imports fell 6.9% to EUR 2.15 billion, reflecting weaker purchases of beverages and tobacco (-12.3%), crude materials, inedible, and animal and vegetable oils, fats, and waxes (-30.3%), mineral fuels, lubricants, and related materials (-1.8%), as well as transport equipment (-16.8%). The decline in imports was most pronounced from the United States (-62.6%), Germany (-14.4%), France (-13.1%), and Belgium (-3.4%).