FX.co ★ Luxembourg Trade Deficit Narrows in January

In January 2025, Luxembourg's trade deficit decreased to EUR 0.54 billion from EUR 0.68 billion recorded in the same month the previous year, due to an increase in exports and a decline in imports. Exports registered a 1.1% year-on-year increase, reaching EUR 1.21 billion. This growth was primarily fueled by significant rises in the sales of crude materials, inedible goods, oils, fats and waxes (up 27.3%), mineral fuels and lubricants (up 25.3%), and beverages and tobacco (up 21.4%). The most substantial export expansion occurred with the U.S. (16.7%), followed by Germany (11.1%) and Belgium (7.1%). On the other hand, imports experienced a 6.9% decrease, falling to EUR 1.75 billion, largely due to marked reductions in the purchase of machinery and equipment (down 27.8%) and mineral fuels and lubricants (down 26.5%). The most notable declines in imports came from the U.S. (down 66.6%) and Japan (down 47.5%).