Luxembourg LU: Trade Balance: USD: All Services: Manufacturing Services On Physical Inputs Owned By Others

Luxembourg LU: Trade Balance: USD: All Services: Manufacturing Services On Physical Inputs Owned By Others data was reported at -5.007 USD bn in 2024. This records an increase from the previous number of -5.620 USD bn for 2023. Luxembourg LU: Trade Balance: USD: All Services: Manufacturing Services On Physical Inputs Owned By Others data is updated yearly, averaging -4.193 USD bn from Dec 2010 (Median) to 2024, with 15 observations. The data reached an all-time high of -1.637 USD bn in 2014 and a record low of -5.620 USD bn in 2023. Luxembourg LU: Trade Balance: USD: All Services: Manufacturing Services On Physical Inputs Owned By Others 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: Trade Balance: USD: by Services: OECD Member: Annual. Manufacturing services on physical inputs owned by others includes activities such as processing, assembly, labelling and packing that are undertaken by enterprises that do not own the goods. Examples include oil refining, liquefaction of natural gas and assembly of clothing and electronics. Excluded are the assembly of prefabricated construction (included in construction) and labelling, and packing incidental to transport (included in transport services).The manufacturing is undertaken by an entity that does not own the goods and that is paid a fee by the owner. The ownership of the goods does not change, so no general merchandise transaction is recorded between the processor and the owner. Only the fee charged by the processor is included under this item, although such a fee may include the cost of materials purchased by the processor.An international trade element exists where the work done is by a resident of one economy for the owner of the goods who is resident in another economy. The treatment of these services is not conditional on whether the goods were previously or subsequently in the physical possession of the owner or not.

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What was Luxembourg's Luxembourg LU: Trade Balance: USD: All Services: Manufacturing Services On Physical Inputs Owned By Others in 2023?

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