Luxembourg has established a name for itself as a dynamic and widely open economy. The Grand Duchy is part of the European Union and the Schengen area, and it has a strategic position in the heart of Europe. According to the Open Markets Index, Luxembourg has the most open economy in Europe and has a leading position globally.
A country exporting high-quality goods and services
At least 65% of the goods and services 'made in Luxembourg' are exported. As an internationally oriented developed economy of services, Luxembourg experiences a substantial surplus on the services account, in particular as a result of its exports of financial services. This can be seen in the country's current account which, in 2018, had a 2.8 billion euros surplus.
Exported goods include manufactured metal products, machines, as well as transport material. A significant part of these goods is transported by Cargolux, the largest air freight company in Europe, that is of Luxembourgish origin.
Relations based on trust
Did you know that Luxembourg has 359 km of borders, including 148 km with Belgium, 138 km with Germany and 73 km with France? When it comes to products, they are Luxembourg's three main trade partners. Over the years, Luxembourg broadened its trade relations outside of the European Union, in particular with the United States, Asian countries and the Middle East.
Your partners abroad
Whether you are a Luxembourgish business willing to develop an international project or a foreign business willing to expand in Luxembourg to access the European market, you couldn't dream of a better partner than Luxembourg's extensive diplomatic network.
Diplomatic and consular network
The Ministry of Foreign and European Affairs is in charge of Luxembourg's diplomatic and consular network, which currently consists of 37 diplomatic and consular missions all over the world. Its 840 agents and 135 diplomats are at your service to advise and connect you, as well as to identify economic opportunities for you.
Luxembourg Trade and Investment Offices (LTIOs):
To contribute to the development of foreign trade, the Luxembourg Trade and Invest initiative of the Ministry of Economy offers support offices in high-potential markets, such as, in particular, the United States, Asia and the Middle East. In collaboration with Luxinnovation, the national innovation agency, the eight (and soon nine) LTIOs can provide you with general and sectoral advice. Alongisde the diplomatic and consular network, they play the role of an intermediary between businesses and the authorities
Chamber of Commerce
The Luxembourg Chamber of Commerce has put in place economic advisers in Luxembourgish embassies in Berlin, Brussels and Paris, with a view to further strengthening foreign trade with our neighbouring countries.
How to set up a business in Luxembourg
Aimed at national and foreign entrepreneurs and investors, the brochure 'How to set up a business in Luxembourg - Factsheets' explains in a clear and concise manner, step by step, the main administrative and organisational procedures for setting up in the Grand Duchy of Luxembourg. The publication thus gives an overview of the most important procedures and regulations and provides useful information and contacts for (future) entrepreneurs.