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Balance of payments of Luxembourg during the first three quarters of year 2017
03-01-2018 | STATEC | BCL

STATEC and the Central Bank of Luxembourg (BCL) inform that the current account shows a surplus of 2.6 billion euros in the first three quarters of 2017, compared to 3.2 billion for the same period of the previous year.

The deficit (negative balance) of the transactions on goods passes from 2.3 billion euros in 2016 to 2.9 billion in 2017. This evolution is mainly due to a value increase of imports of raw materials, energy products and capital goods (launch of 2 satellites in March and May 2017, no launch during 2016). Net exports of services, both financial and non-financial, increase in 2017. The international trade in services balance for the first 9 months of the current year amounts to 17.3 billion euros, increasing by nearly 1.2 billion or more than 7% compared to 2016. This improvement, however, did not completely erase the widening of the primary income deficit. The former is related to compensation of employees and investment income.