Exporting guide to Luxembourg

Luxembourg is located in Western Europe and has a population of 600,000 people (ONS, 2019). It is landlocked, and bordered by Belgium, France and Germany. Despite the relatively small size of the country, the UK exported goods and services with a value of £4.8 billion to Luxembourg in the year to the end of June 2019, an increase of 3.6% compared to the previous year (ONS, 2019).

Convenience for UK businesses

UK exporters should find business conditions in Luxembourg to be very favourable. Luxembourg ranks 66th for ease of doing business (World Bank 2018), and 18th for Global Competitiveness (World Economic Forum, 2019). English is widely spoken as a business language, and the country shares similar standards and work procedures to the UK. It's also just 2 hours away from London.

Strong market conditions

Apart from a dip in 2017, Luxembourg's import market has experienced healthy growth since 2014, and is projected to continue growing for at least the next five years (IMF, 2019). GDP per capita is high in Luxembourg ($113,197) and is expected to continue to rise (IMF, 2019). This should lead to a further increase in spending power for consumers in an already strong market.

Strong service market

In the year up until March 2019, 94.9% of all exports from the UK to Luxembourg were services. Financial, telecoms, computer and information services feature among a very diverse service export market (IMF, 2019).

Street scene in Luxembourg

Ease of doing business

72nd

out of 190 countries (World Bank, 2019)

Currency

Euro

Business language

French, German, English

GDP per capita

$115,536

UK is $42,558 (IMF, 2018)

Economic growth

2.3%

(IMF, 2019)

Time zone

GMT +2

New

Is this market right for you?

Make the right choice by comparing data from other countries.

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.