The Central Bank of Luxembourg (BCL) and STATEC published provisional balance of payments results for the first three quarters of 2024, showing a current account surplus of EUR 6 billion, up EUR 1.3 billion from the same period a year earlier. The goods balance recorded a surplus of EUR 691 million, an improvement of EUR 1.7 billion, as exports rose 4% while imports fell 5%; net exports from international merchanting increased by EUR 642 million and the deficit on general merchandise narrowed (exports +0.2%, +EUR 40 million; imports -5%, -EUR 1 billion). The services balance increased 8.7% (+EUR 1.6 billion) as service exports grew 2.6% versus 1.2% for imports; non-financial services edged down, while financial services expanded (exports +5.3%, imports +3.2%), linked to a 7% rise in average assets managed by investment funds. In the financial account, direct investment showed positive flows for assets (EUR 31 billion) and slightly negative flows for liabilities (-EUR 4.5 billion), while portfolio flows included net inflows into Luxembourg equities of EUR 90.1 billion, disinvestment in foreign equities of EUR 31 billion, net acquisitions of foreign debt securities of EUR 144 billion, and net inflows into Luxembourg debt securities of EUR 21.7 billion. Detailed statistical tables are available on the BCL and STATEC websites.
Central Bank of Luxembourg 2025-01-17
Central Bank of Luxembourg and STATEC report a EUR 6 billion current account surplus in Luxembourg’s balance of payments through the first three quarters of 2024
The Central Bank of Luxembourg and STATEC reported a provisional current account surplus of EUR 6 billion for the first three quarters of 2024, an increase of EUR 1.3 billion from the previous year. The goods balance improved by EUR 1.7 billion, with exports rising 4% and imports falling 5%. The financial account showed positive direct investment flows for assets and significant portfolio inflows, including EUR 90.1 billion into Luxembourg equities.