Luxembourg, a small European nation known for its thriving financial sector, is also engaged in international trade, including the tea industry. In 2021, Luxembourg exported $277k worth of tea, positioning itself as the 102nd largest exporter of tea globally. However, tea only ranked 742nd among Luxembourg’s exported products that year.
Tea Exports from Luxembourg
The primary destinations for Luxembourg’s tea exports are France, the Netherlands, Belgium, Germany, and Oman. France tops the list with $123k worth of tea imports from Luxembourg, followed by the Netherlands with $54.1k, Belgium with $32.5k, Germany with $16k, and Oman with $14.4k. Notably, between 2020 and 2021, Luxembourg witnessed significant growth in tea exports to France, which increased by $20.9k. Spain and the Netherlands also displayed promising growth with $9k and $6.53k, respectively.
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Tea Imports in Luxembourg
In 2021, Luxembourg imported $3.08M worth of tea, establishing itself as the 115th largest global importer of tea. Tea ranked 579th among the most imported products in Luxembourg that year. Luxembourg’s major tea import sources are France, Germany, Belgium, the United States, and the United Kingdom. The highest tea imports were from France, amounting to $919k, followed by Germany with $853k, Belgium with $716k, the United States with $108k, and the United Kingdom with $97.4k. The fastest-growing import markets for tea in Luxembourg between 2020 and 2021 were France, experiencing an increase of $463k, Germany with $139k, and Singapore with $51.9k.
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Potential Of Tea Import and Export Between Vietnam-Luxembourg
While the bilateral trade between Vietnam and Luxembourg may not currently reach significant levels, it is worth noting that Luxembourg’s tea imports in 2021 amounted to a total value of $145. Recognizing this, it becomes evident that Vietnam, as a global leader in tea production and export, has immense potential to collaborate with Luxembourg in introducing Vietnamese tea to the Luxembourg market in the foreseeable future.
Tariffs on Tea Trade
In 2019, the average tariff rate imposed by Luxembourg on tea was 0.3%. Notably, certain countries imposed higher import tariffs on tea. The Republic of the Congo, Algeria, Western Sahara, Gabon, and Libya had the highest import tariffs for tea, all standing at a Most Favored Nation duty rate treatment of 0.8%.
Luxembourg’s tea trade reflects its participation in the global market, with both exports and imports playing a role in the country’s economy. While tea exports from Luxembourg are relatively modest, the nation has experienced growth in key markets such as France, Spain, and the Netherlands. On the other hand, tea imports contribute significantly to Luxembourg’s consumption, with France, Germany, and Belgium leading the way. Understanding tariff rates is crucial for tea traders, with Luxembourg applying a relatively low average tariff, while some countries impose higher tariffs on tea imports. As Luxembourg continues its engagement in the global tea trade, it will be interesting to observe how its tea industry evolves in the coming years.