That dollar amount results from a 2.7% upturn from $16.2 billion five years earlier during 2021.
Year over year, Luxembourg’s revenues from exports increased by 6.7% versus $15.6 billion in 2024.
Applying a continental lens, 88.2% of Luxembourg’s exports by value was delivered to other European countries while 5.9% was sold to importers in Asia.
Luxembourg shipped another 3.9% worth of goods to buyers in North America.
Smaller percentages went to customers located in Africa (1.3%), Latin America (0.6%) excluding Mexico but including the Caribbean, then Oceania (0.1%) led by Australia and New Zealand.
Luxembourg is one of the four European Union institutional seats. In addition, Luxembourg is home to the Court of Justice of the European Union. Other EU member states bought 82.3% of total Luxembourg export sales, up from 80.6% for the prior year.
Luxembourg’s Top Trading Partners
Below is a list showcasing 25 of Luxembourg’s top trading partners, countries that imported the most Luxembourg shipments by dollar value during 2025. Also shown is each import country’s percentage of total Luxembourg exports.
- Germany: US$4.2 billion (25.3% of Luxembourg’s total exports)
- France: $2.6 billion (15.5%)
- Belgium: $2.4 billion (14.2%)
- Netherlands: $1.1 billion (6.6%)
- Italy: $694.6 million (4.2%)
- Spain: $568.5 million (3.4%)
- United States: $438.7 million (2.6%)
- Poland: $424.5 million (2.5%)
- United Kingdom: $392.5 million (2.4%)
- Austria: $332 million (2%)
- Switzerland: $313.2 million (1.9%)
- mainland China: $258.5 million (1.5%)
- Sweden: $212.1 million (1.3%)
- Czech Republic: $188.2 million (1.1%)
- Türkiye: $162.1 million (1%)
- Denmark: $148.2 million (0.9%)
- Canada: $126.4 million (0.8%)
- Romania: $122.3 million (0.7%)
- Hungary: $110 million (0.7%)
- Portugal: $90.9 million (0.5%)
- South Korea: $87.3 million (0.5%)
- Slovakia: $86.5 million (0.5%)
- Ireland: $84.1 million (0.5%)
- Norway: $72.8 million (0.4%)
- India: $72.3 million (0.4%)
More than nine-tenths (91.4%) of Luxembourg exports in 2025 was delivered to the above major trade partners.
The fastest growers among Luxembourg’s listed trading partners were buyers in Canada (up 26.9% from 2024), South Korea (up 26.7%), Switzerland (up 23.7%), Austria (up 16.9%) then Sweden (up 16.6%).
There were 4 double-digit percentage decliners. These were customers in Türkiye (down -7.9% from 2024), Portugal (down -7.1%), Hungary (down -4.7%) and Italy (down -2.8%).
Countries Causing Luxembourg’s Largest Trade Deficits
Luxembourg experienced an overall -US$10.8 billion trade deficit during 2025, increasing by 16.4% from -$9.3 billion in red ink one year earlier in 2024.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit. It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Luxembourg incurred the highest trade deficits with the following countries.
- Belgium: -US$3.4 billion (country-specific trade deficit in 2025)
- Germany: -$1.8 billion
- Japan: -$1.3 billion
- United States: -$737.1 million
- China: -$525.9 million
- Italy: -$351.2 million
- Luxembourg: -$321.4 million
- Poland: -$251.5 million
- France: -$231 million
- Ivory Coast: -$148.7 million
Among Luxembourg’s trading partners that cause the greatest negative trade balances, Luxembourgian deficits with Japan (up 480.9%), United States of America (up 310.4%) and Africa’s Ivory Coast (up 265.9%) grew at the fastest pace from 2024 to 2025.
These cashflow deficiencies clearly indicate Luxembourg’s competitive disadvantages with the above countries, but also represent key opportunities for Luxembourg to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Luxembourg’s Largest Trade Surpluses
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Luxembourg incurred the highest trade surpluses with the following countries.
- Sweden: US$136.8 million (country-specific trade surplus in 2025)
- Austria: $132.8 million
- Switzerland: $111.2 million
- Romania: $76.6 million
- Denmark: $74.9 million
- United Kingdom: $71.5 million
- Norway: $44.5 million
- Greece: $26.5 million
- Canada: $26 million
- Bulgaria: $25.4 million
Among Luxembourg’s trading partners that generate the greatest positive trade balances, Luxembourgian surpluses with United Kingdom (up 260%), Sweden (up 166.5%) and Austria (up 116%) grew at the fastest pace from 2024 to 2025.
In addition, Luxembourg reversed a -$47.4 million deficit trading with Canada during 2024 to recording the $26 million surplus listed above.
These positive cashflow streams clearly indicate Luxembourg’s competitive advantages with the above countries, but also represent key opportunities for Luxembourg to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Luxembourg Trading Partners
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 lists companies from Luxembourg, some of which are international trade players.
- Brasserie Nationale (brewery)
- Cargolux (cargo airliner)
- Ceratizit (hard metals)
- ROTAREX Group (medical equipment)
See also Luxembourg’s Top 10 Exports, Germany’s Top Trading Partners, France’s Top Trading Partners, Belgium’s Top Trading Partners and Top EU Export Countries
Research Sources:
Central Intelligence Agency, The World Factbook Europe: Luxembourg. Accessed on October 29, 2026
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on October 29, 2026
International Trade Centre, Trade Map. Accessed on October 29, 2026
Investopedia, Net Exports Definition. Accessed on October 29, 2026
Wikipedia, List of Companies of Luxembourg. Accessed on October 29, 2026
Wikipedia, Luxembourg. Accessed on October 29, 2026