FX.co ★ Luxembourg Current Account Surplus Widens in Q4

In the fourth quarter of 2024, Luxembourg's current account surplus expanded significantly, reaching EUR 3,679 million compared to EUR 2,897 million in the same period the previous year. This growth was driven largely by positive developments in services and goods. The surplus in services increased to EUR 10,142 million from EUR 9,666 million, while the goods balance improved to EUR 1,627 million from EUR 1,052 million. Furthermore, the surplus in secondary income rose to EUR 284 million, up from EUR 141 million. However, the primary income deficit also widened, reaching EUR 8,374 million compared to EUR 7,962 million. Across the entire year, Luxembourg's current account surplus rose to EUR 545,986 million, an increase from EUR 521,862 million in 2023.