Browse a full set of economic indicators

Luxembourg

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)

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

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