The Central Bank of Luxembourg (BCL), together with STATEC, published provisional balance of payments results for 2024 showing a current account surplus of EUR 11.8 billion, up EUR 2.8 billion from the previous year. The goods balance moved to a surplus of EUR 1.5 billion, an increase of EUR 1.1 billion, reflecting a 3% rise in exports and a 1% fall in imports. Net exports from international merchanting increased by EUR 155 million, while the deficit on general merchandise narrowed as exports rose 3% (EUR 710 million) and imports fell 1% (EUR 255 million). The services balance increased by 6.5% (EUR 2.3 billion), with exports up 3.5% versus import growth of 2.6%; within this, non-financial services posted modest gains, while financial services grew more strongly (exports +5.6%, imports +4.9%), linked mainly to an 8% increase in average assets managed by investment funds. In the financial account, direct investment was positive in 2024 for both assets (EUR 123.7 billion) and liabilities (EUR 100.7 billion) following disinvestment in 2023. For portfolio investment, Luxembourg equities recorded net inflows of EUR 171.2 billion (from EUR 101.5 billion in 2023), foreign equities saw net disinvestment of EUR 41.5 billion, and foreign debt securities recorded net acquisitions of EUR 200.4 billion; Luxembourg debt securities also had net inflows of EUR 30.8 billion (from EUR 21.6 billion).
Central Bank of Luxembourg 2025-04-03
Central Bank of Luxembourg and STATEC publish preliminary 2024 balance of payments showing current account surplus of EUR 11.8 billion
The Central Bank of Luxembourg and STATEC reported a provisional 2024 current account surplus of EUR 11.8 billion, up EUR 2.8 billion from 2023. The goods balance shifted to a EUR 1.5 billion surplus, driven by a 3% rise in exports and a 1% fall in imports. In the financial account, Luxembourg saw positive direct investment and significant net inflows in equities and debt securities.