The following export product groups represent the highest dollar value in Luxembourg global shipments during 2020. Also shown is the percentage share each export category represents in terms of overall exports from Luxembourg.

1. Machinery including computers: US$1.9 billion (13.4% of total exports)
2. Plastics, plastic articles: $1.5 billion (10.8%)
3. Iron, steel: $1.31 billion (9.5%)
4. Vehicles: $1.28 billion (9.3%)
5. Articles of iron or steel: $782 million (5.7%)
6. Electrical machinery, equipment: $731.5 million (5.3%)
7. Rubber, rubber articles: $624.9 million (4.5%)
8. Dairy, eggs, honey: $435.1 million (3.2%)
9. Aluminum: $430.8 million (3.1%)
10. Paper, paper items: $430.3 million (3.1%)

Luxembourg’s top 10 exports accounted for roughly two-thirds (67.8%) of the overall value of its global shipments.

Paper including items made from paper represents the fastest grower among the top 10 export categories, up by 2.7% from 2019 to 2020. The other two top categories to increase were vehicles (up 2.1%) and dairy, eggs and honey (up 0.04%).

The leading decliner among Luxembourg’s top 10 export categories was iron, steel: thanks to a -24.9% drop year over year

At the more granular four-digit Harmonized Tariff System (HTS) code level, Luxembourg’s most valuable exported products are iron or non-alloy steel angles, shapes and sections (5.3%), cars (4.8%), new rubber tires (3.6%), iron or sheet piling (2.9%), cellulose fiber paper (2.7%), self-adhesive plastic in rolls (also 2.7%) then coated or laminated non-woven materials (2.5%).

The following types of Luxembourg product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports is the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Articles of iron or steel: US$318.4 million (Up by 6.1% since 2019)
2. Plastics, plastic articles: $255.5 million (Up by 10.5%)
3. Iron, steel: $249.1 million (Down by -44.1%)
4. Felt, yarn, twine, ropes, cables: $247.4 million (Up by 1.8%)
5. Rubber, rubber articles: $185.8 million (Up by 1%)
6. Glass: $148.1 million (Down by -31.1%)
7. Coated/laminated textile fabric: $123.8 million (Down by -12.8%)
8. Vegetable/fruit/nut preparations: $76.6 million (Up by 26.8%)
9. Copper: $59.6 million (Up by 10.8%)
10. Dairy, eggs, honey: $53.5 million (Down by -1.7%)

Luxembourg has highly positive net exports in the international trade of iron or steel including items made from those materials. In turn, these cashflows indicate Luxembourg’s strong competitive advantages under the iron or steel category.

Luxembourg incurred an overall -$7.5 billion trade deficit during 2020, down by -6.1% from -$8 billion in red ink one year earlier.

Below are exports from Luxembourg that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Luxembourg’s goods trail Luxembourg importer spending on foreign products.

1. Vehicles: -US$1.9 billion (Down by -16.1% since 2019)
2. Mineral fuels including oil: -$1.4 billion (Down by -36%)
3. Electrical machinery, equipment: -$637.5 million (Down by -3.7%)
4. Aircraft, spacecraft: -$432.2 million (Up by 42.2%)
5. Pharmaceuticals: -$428.9 million (Up by 9.1%)
6. Beverages, spirits, vinegar: -$330.4 million (Down by -9.5%)
7. Furniture, bedding, lighting, signs, prefabricated buildings: -$315.4 million (Up by 2.7%)
8. Machinery including computers: -$302.7 million (Up by 22.4%)
9. Fruits, nuts: -$232 million (Up by 17.8%)
10. Tobacco, manufactured substitutes: -$165.6 million (Up by 18.8%)

Luxembourg has highly negative net exports and therefore deep international trade deficits under the vehicles category and also for refined petroleum oils under the mineral fuels including oil category.

Luxembourg Export Companies

Seven corporations based in Luxembourg rank among Forbes Global 2000, including the bank Espirito Santo Financial. Below are the other major Luxembourg companies that Forbes included.

• ArcelorMittal (iron, steel)
• Millicom International (telecommunications)
• RTL Group (broadcasting, cable)
• SES (broadcasting, cable)
• Tenaris (oil services, equipment)
• Ternium (iron, steel)

Wikipedia also lists companies from Luxembourg, many of which are significant international trade players.

• Brasserie Nationale (brewery)
• Cargolux (cargo airliner)
• Ceratizit (hard metals)
• ROTAREX Group (medical equipment)