Balance of payments of Luxembourg during the first three quarters of year 2016

Balance of payments of Luxembourg during the first three quarters of year 2016

 

The Banque centrale du Luxembourg (BCL) and STATEC inform that the current account resulted in a surplus of around 1 billion euros during the first three quarters of 2016, compared to 0.8 billion during the same period of the previous year, which corresponds to an increase of the surplus of 28.5%.

 

The decline in imports of goods during the first nine months of 2016 - due in particular to a lower (national) energy invoice – was not able to compensate for the drop in net exports of goods under merchanting, which resulted in the trade deficit ("balance of payments" concept) going from -1.7 billion euros to -2.3 billion euros.

 

The increase in exports of non-financial services and the combined fall of their imports more than offset the decline in exports of financial services. During the first three quarters of 2016, international trade in services generated a surplus of 14.6 billion euros, corresponding to an increase of more than 3% compared to the same period a year earlier.

 

In the financial account, direct investments recorded net inflows of 15 billion euros during the three first quarters of year 2016. Portfolio investments and financial derivatives recorded respectively inflows of 55 billion euros and 5 billion euros during the three first quarters of year 2016. All these inflows were largely compensated by outflows of 75 billion euros in the other investments (loans and traditional deposits).

 

Detailed statistical tables are available on BCL’s website (www.bcl.lu) as well as on the website of STATEC (www.statistiques.lu).

 

Table: Balance of payments of Luxembourg

For further information, please contact:

• STATEC           at 247-84362 or 84393

• BCL                   at 4774-4265

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