Includes Luxembourg real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Luxembourg economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Luxembourg best banks and safest banks are also available.
Basic Information
Government Type: Constitutional monarchy
Capital City: Luxembourg
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank | Central Bank of Luxembourg |
|---|---|
| Currency | Euros (EUR) |
| International Reserves |
USD 2.92 billion (2021) International Monetary Fund (IMF), data retrieved January 2022 |
| Gross Domestic Product – GDP |
USD 83.77 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
| GDP (Purchasing Power Parity) |
USD 80.75 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
| Real GDP growth |
2017 1.8% 2018 3.1% 2019 2.3% 2020 –1.3% (Estimate) 2021 5.5% (Estimate) |
|---|---|
| GDP per capita – current prices |
USD 131,301.60 (2021 estimate) IMF – World Economic Outlook, October 2021 |
| GDP per capita – PPP |
USD 126,568.69 (2021 estimate) IMF – World Economic Outlook, October 2021 |
| GDP (PPP) – share of world total | 0.06% (2021 estimate) |
| GDP – composition by sector |
agriculture: 0.2% industry: 10.7% services: 80.1% (2020 estimate) |
| Gross domestic expenditure on R&D; (% of GDP) | 1.1% (2019) |
| Inflation |
2017 2.1% 2018 2.0% 2019 1.7% 2020 0% (Estimate) 2021 2.7% (Estimate) |
Luxembourg
Inflation & Debt
| Inflation |
2017 2.1% 2018 2.0% 2019 1.7% 2020 0% (Estimate) 2021 2.7% (Estimate) |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: AAA Moody’s: Aaa Standard & Poor’s / Moody’s (January 2022) |
| Unemployment rate |
2017 2.1% 2018 2.0% 2019 1.7% 2020 0% (Estimate) 2021 2.7% (Estimate) |
| Household saving rates |
18.1% (2020) |
| Public debt (General government gross debt as a % of GDP) |
2017 22.3% 2018 21% 2019 22% 2020 -24.8% (Estimate) 2021 26.3% (Estimate) |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2017 1.1% 2018 2.8% 2019 2.2% 2020 –4.3% (Estimate) 2021 –1.6% (Estimate) |
| Market value of publicly traded shares |
USD 51.6 billion (2020) |
| Largest Companies |
ArcelorMittal, Spotify Technology, Eurofins Scientific Societe Europeenne, Aroundtown, Ternium, RTL Group |
Import/Export
| Exports as percent of GDP (Exports of goods and services) |
224.8% (2018) |
|---|---|
| Shares in world total merchandising export |
0.08% (2018) |
| Shares in world total commercial services export |
1.95% (2018) |
| Total exports |
USD 135.2 billion (2018 estimate) |
| Export commodities |
Machinery and equipment, steel products, chemicals, rubber products, glass |
| Total imports |
USD 111.7 billion (2018 estimate) |
| Import commodities |
Commercial aircraft, minerals, chemicals, metals, foodstuffs, luxury consumer goods |
| Exports – major partners |
Germany 25.6%, Belgium 17.6%, France 14%, Netherlands 5.1%, Italy 4.1%, UK 4.1% (2017) |
| Imports – major partners |
Belgium 32%, Germany 24.9%, France 11.1%, US 5.7%, Netherlands 4.9% (2017) |
Competitiveness & Trade
| Current account balance |
USD 3.3 billion (2018 estimate) |
|---|---|
| Current account balance by percentage of GDP |
4.7 % (2018 estimate) |
| FDI inflows |
2016 USD 31,878 million 2017 USD -6,799 million 2018 USD -5,615 million |
| FDI Outflows |
2016 USD 30,150 million 2017 USD 34,679 million 2018 USD 1,373 million |
| Value of cross-border M&A, by country of purchaser |
2015 USD 17,503 million 2016 USD 9,641 million 2017 USD 9,938 million 2018 USD -262 million |
| Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 72 out of 190 countries Subcategories: Starting a Business: 76 out of 190 countries Dealing with Construction Permits: 14 out of 190 countries Getting Electricity: 45 out of 190 countries Registering Property: 93 out of 190 countries Getting Credit: 176 out of 190 countries Protecting Minority Investors: 97 out of 190 countries Paying Taxes: 23 out of 190 countries Trading across Borders: 1 out of 190 countries Enforcing Contracts: 18 out of 190 countries Resolving Insolvency: 93 out of 190 countries |
| Global competitiveness ranking |
18 out of 141 countries (2019) |
| Index of Economic Freedom |
Ranking: 17 / Score: 75.9 (Mostly free) (100=totally free 0=totally repressed) |
Population & Geographic Data
| Time Zone |
UTC+1 |
|---|---|
| Total Area |
2,586 sq km |
| Total Population |
1990 0.38 million 2000 0.43 million 2010 0.5 million 2015 0.56 million (Estimate) 2020 0.63 million (Estimate) |
| Urban population as % of total population |
1960 69.6% 1980 80% 2000 84.2% 2018 91% |
| Population median age |
39.3 years CIA World Factbook / Population median age |
| Population growth rate |
1.9% (2018 estimate) |
| Life expectancy |
82.4 years (2018 estimate) |
| % of population living on less than $3.10 a day |
0.5% (last available estimate, 2015) |
| Inequality of wealth distribution (Gini index) |
33.8 (last available estimate, 2015) (0=perfect equality, 100=absolute inequality) |
| Freedom House rating |
Free Political Rights: 1 Civil Liberties: 1 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed: 45.3% Mobile: 132.2% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population | 97.06 % (2018) |
Language & Religon
| Languages |
Luxembourgish (official administrative and judicial language and national language (spoken vernacular)) 55.8%, Portuguese 15.7%, French (official administrative, judicial, and legislative language) 12.1%, German (official administrative and judicial langu |
|---|---|
| Literacy |
N/A |
| Religions |
Christian (predominantly Roman Catholic) 70.4%, Muslim 2.3%, other (includes Buddhist, folk religions, Hindu, Jewish) 0.5%, none 26.8% (2010 est.) |
World Rankings
| Population | 0.63 M |
|---|---|
| Mercer Cost of living index |
Luxembourg: 84th (2019) |
| C02 Emissions per capita |
17.36 metric tons per capita (2014) |
Global Finance Rankings & Awards: Albania
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000