FX.co ★ Luxembourg Trade Deficit Narrows in July

Luxembourg’s trade deficit narrowed to EUR 0.79 billion in July 2026, down from EUR 1.19 billion in July 2025. Imports declined by 13.9% year-on-year to EUR 2.18 billion, largely reflecting lower purchases of beverages and tobacco (-41.8%), food and live animals (-7.9%), manufactured articles of base metals (-7.5%), machinery and equipment (-40.9%), and transport equipment (-42.1%). By trading partner, imports fell sharply from France (-20.4%), the United States (-52.5%), and Japan (-83.3%).

In contrast, exports increased by 3.2% to EUR 1.39 billion, supported by higher shipments of mineral fuels and lubricants (+15.1%), chemicals and chemical products (+10.5%), and miscellaneous manufactured articles (+15.3%). Export growth was underpinned by stronger demand from Germany (+5.6%), France (+7.9%), the United States (+45.2%), and Japan (+23.2%).

Over the January–July period, however, the overall trade deficit widened to EUR 9.50 billion, compared with EUR 9.0 billion in the same period a year earlier.