Luxembourg: Travel Set Market 2024

Travel Set Market Size in Luxembourg

In 2021, after two years of growth, there was significant decline in the Luxembourg travel set market, when its value decreased by -7.4% to $X. In general, consumption recorded a pronounced slump. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Travel Set Production in Luxembourg

In value terms, travel set production fell sharply to $X in 2021 estimated in export price. In general, production, however, posted a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 159%. As a result, production attained the peak level of $X, and then reduced remarkably in the following year.

Travel Set Exports

Exports from Luxembourg

In 2021, shipments abroad of travel sets decreased by -58.8% to X units for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 2,378%. The exports peaked at X units in 2020, and then declined sharply in the following year.

In value terms, travel set exports contracted significantly to $X in 2021. Over the period under review, exports, however, saw significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 2,153% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then reduced markedly in the following year.

Exports by Country

Belgium (X units) was the main destination for travel set exports from Luxembourg, with a 82% share of total exports. Moreover, travel set exports to Belgium exceeded the volume sent to the second major destination, the UK (X units), sevenfold. The United States (X units) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium amounted to +51.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and the United States (0.0% per year).

In value terms, Belgium ($X) remains the key foreign market for travel sets exports from Luxembourg, comprising 64% of total exports. The second position in the ranking was taken by the UK ($X), with a 24% share of total exports. It was followed by the United States, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium amounted to +77.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and the United States (0.0% per year).

Export Prices by Country

The average travel set export price stood at $X per unit in 2021, jumping by 57% against the previous year. Overall, the export price, however, recorded a precipitous decrease. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+6.2%).

Travel Set Imports

Imports into Luxembourg

In 2021, supplies from abroad of travel sets increased by 11% to X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, showed a mild slump. The pace of growth appeared the most rapid in 2017 with an increase of 72% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, travel set imports surged to $X in 2021. In general, imports posted a measured expansion. The pace of growth was the most pronounced in 2016 when imports increased by 76% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X units), Germany (X units) and Belgium (X units) were the main suppliers of travel set imports to Luxembourg, together comprising 90% of total imports. These countries were followed by the Netherlands, China, Switzerland and Italy, which together accounted for a further 7.1%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +57.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of travel sets to Luxembourg, comprising 51% of total imports. The second position in the ranking was taken by Germany ($X), with a 22% share of total imports. It was followed by Belgium, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France totaled +44.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.4% per year) and Belgium (+16.4% per year).

Import Prices by Country

The average travel set import price stood at $X per unit in 2021, with an increase of 10% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, travel set import price increased by +54.5% against 2018 indices. The pace of growth was the most pronounced in 2015 an increase of 61%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+40.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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