Luxembourg's export sector is a crucial driver of its economy, contributing significantly to its overall growth and prosperity. The country's top 10 major exports include refined petroleum, broadcasting equipment, iron and steel products, machinery and mechanical appliances, pharmaceuticals, optical and medical instruments, plastics and rubber articles, electrical machinery and equipment, precious metals, and vehicles and automotive parts.
Refined Petroleum
Luxembourg's top export is refined petroleum, which plays a crucial role in driving its economy. The country's strategic location and well-developed infrastructure make it an ideal hub for petroleum distribution. In terms of volume, Luxembourg exported approximately 3.5 million metric tons of refined petroleum in the past year, valued at around $2.4 billion. Germany, Belgium, and France are the closest trading partners for this product.
Broadcasting Equipment
The second-largest export category from Luxembourg is broadcasting equipment. With its expertise in the satellite industry, the country is a major player in providing high-quality broadcasting solutions. In terms of volume, Luxembourg exported broadcasting equipment worth around $1.8 billion. Its primary trading partners for this sector include Germany, France, and the United States.
Iron and Steel Products
Iron and steel products constitute another significant export category for Luxembourg. The country benefits from its access to high-quality raw materials and a skilled workforce in this industry. In terms of volume, Luxembourg exported approximately 1.2 million metric tons of iron and steel products, valued at around $1.5 billion. Belgium, Germany, and France are the major trading partners for this sector.
Machinery and Mechanical Appliances
Luxembourg's export portfolio includes machinery and mechanical appliances, which encompass a wide range of products such as engines, pumps, and industrial equipment. In terms of volume, Luxembourg exported machinery and mechanical appliances valued at around $1.2 billion. Its primary trading partners for this category are Belgium, Germany, and France.
Pharmaceuticals
The pharmaceutical industry is a key export sector for Luxembourg. The country hosts several pharmaceutical companies engaged in research, development, and manufacturing. In terms of volume, Luxembourg exported pharmaceutical products worth approximately $1.1 billion. Its closest trading partners for this sector include Belgium, Germany, and France.
Optical and Medical Instruments
Luxembourg's expertise in optical and medical instruments contributes to its export success. These products encompass a wide range of devices, including optical instruments, surgical equipment, and diagnostic tools. In terms of volume, Luxembourg exported optical and medical instruments valued at around $900 million. Its primary trading partners in this sector are Germany, Belgium, and France.
Plastics and Rubber Articles
Luxembourg's export profile includes plastics and rubber articles, which encompass a variety of products, including packaging materials, automotive components, and consumer goods. In terms of volume, Luxembourg exported plastics and rubber articles worth approximately $800 million. Its primary trading partners for this category include Germany, France, and Belgium.
Electrical Machinery and Equipment
The export of electrical machinery and equipment represents another important sector for Luxembourg. These products include electrical appliances, transformers, and electronic components. In terms of volume, Luxembourg exported electrical machinery and equipment valued at around $750 million. Its closest trading partners for this sector are Germany, France, and Belgium.
Precious Metals
Luxembourg has a significant presence in the precious metals market, primarily in the refining and trading of gold and silver. In terms of volume, Luxembourg exported precious metals worth approximately $700 million. Its major trading partners in this sector include Switzerland, Belgium, and Germany.
Vehicles and Automotive Parts
Luxembourg's export sector also encompasses vehicles and automotive parts, reflecting its involvement in the automobile industry. This category includes the export of vehicles, engines, and various automotive components. In terms of volume, Luxembourg exported vehicles and automotive parts valued at around $600 million. Its primary trading partners for this sector include Germany, France, and Belgium.
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