Balance of payments

The balance of payments is a statistical statement that systematically summarizes, for a specific time period, the economic transactions of an economy with the rest of the world. This statistic is a reference tool for the determination of the monetary policy and serves as an information source for the needs of the national accounts and the control of the economic policy.

The statistical methodsapplied for the compilation of the Luxembourg balance of payments are based e.g. on the current international standards recommended in the Balance of Payments Manuel of the International Monetary Fund and the reporting requirements of the European Central Bank.

Since 2002 the Institut national de la statistique et des études économiques (STATEC) and the Banque centrale du Luxembourg (BCL) jointly establish the complete balance of payments of Luxembourg. A memorandum of understanding (PDF, French version, 146 Kb) which refers to the legal basis (PDF, French version, 94 Kb), (law of the 28 june 2000) was signed by the two institutions involved. The STATEC and the BcL have decided that relations with the reporting agents belonging to the financial sector are the responsibility of the BcL, whereas all remaining reporting agents are the responsibility of the STATEC.

The set of instructions and forms related to the data collection exercise can be transmitted to direct reporters and are available online.

The Luxembourg balance of payments statistics are published on a quarterly basis.