Luxembourg LU: Exports: USD: All Services: Construction

Luxembourg LU: Exports: USD: All Services: Construction data was reported at 517.400 USD mn in 2024. This records an increase from the previous number of 500.600 USD mn for 2023. Luxembourg LU: Exports: USD: All Services: Construction data is updated yearly, averaging 375.100 USD mn from Dec 2010 (Median) to 2024, with 15 observations. The data reached an all-time high of 517.400 USD mn in 2024 and a record low of 349.600 USD mn in 2018. Luxembourg LU: Exports: USD: All Services: Construction data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Luxembourg – Table LU.OECD.TISP: Trade in Services: Exports: USD: by Services: OECD Member: Annual. Construction covers the creation, management, renovation, repair or extension of fixed assets in the form of buildings, land improvements of an engineering nature and other constructions such as roads, bridges and dams. It also includes related installation and assembly work, site preparation and general construction as well as specialized services such as painting, plumbing and demolition.Construction is valued on a gross basis, that is, inclusive of all goods and services used as inputs to the work, other costs of production and the operating surplus that accrues to the owners of the construction enterprise. This valuation principle is the same as that which applies in the valuation of all production (of both goods and services), as described in the 2008 SNA. Construction is also valued on a gross basis in the sense that it can be disaggregated into construction abroad and construction in the compiling economy. Construction credits consist of credits for construction abroad and credits for construction in the compiling economy. Construction debits consist of debits for construction abroad and for debits construction in the compiling economy.This disaggregation allows for the recording on a gross basis of both the construction work undertaken and the goods and services acquired from residents in the host economy, by non-resident enterprises undertaking the construction.

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