Economy of Luxembourg
Population: 0.61 M (2018)
GDP per Capita: 116,640 USD (2018)
70,890 M.

GDP USD

(2018)

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149,960 M.

EXPORTS USD

(2018)

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124,440 M.

IMPORTS USD

(2018)

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22.10 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 3.11 % (2018)
GDP of 2010 USD USD 67.30 B. (2018)
GDP Current USD USD 70.89 B. (2018)
GDP per Capita Current USD USD 116,640 (2018)
GDP per capita, PPP USD 96,793 (2018)
GDP per Capita, 2010 USD USD 110,742 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 16.66 % (2018)
Government Spending USD 11.81 B. (2018)
Government Debt % GDP 22.10 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 91.03 (2018)
Trade Openness 387.10 % (2018)
Exports of Goods and Services % GDP 211.56 % (2018)
Exports Goods & Services USD 149.96 B. (2018)
Exports Annual Growth 0.47 % (2018)
Imports as % GDP 175.54 % (2018)
Total Imports USD 124.44 B. (2018)
Foreign Direct Investment % GDP 52.52 % (2016)
Foreign Direct Investment USD 31.88 B. (2016)
Current Account Balance % GDP USD 4.83 % (2018)
Current Account Balance USD 3.43 B. (2018)
Trade Balance % GDP 36.01 % (2018)
Trade Balance USD 26.19 B. (2018)
Foreign Exchange Reserves incl Gold USD 0.94 B. (2018)
Remittances % GDP 2.81 % (2018)
Remittances USD 43 M. (2018)
Balance of Payments USD 2 M. (2017)

Labor Market

Indicator Value
Labor Force 0.30 M. (2019)
Unemployment Rate 5.41 % (2019)
Unemployment Rate Females 5.89 % (2019)
Unemployment Rate Males 4.92 % (2019)
Youth Unemployment (ages 15-24) 15.58 % (2019)
Labor Force Participation Rate 58.02 % (2019)
Labor Force (Percent Female) 45.92 % (2019)
Female Labor Force Participation Rate 53.49 % (2019)
Male Labor Force Participation Rate 62.53 % (2019)
Dependent People 42.98 % (2018)

Agriculture Sector

Indicator Value
Forest Area 35.70 % (2016)
Forest Area km² 867 km² (2016)
Agricultural Land 53.71 % (2016)
Agricultural Land km² 1,305 km² (2016)
Employment 1.36 % (2019)
Value added % GDP 0.23 % (2018)
Agriculture Value added USD 0.16 B. (2018)
Crop Production Index 71.60 (2016)
Precipitation 934 mm (2014)
Arable Land 26 % (2016)
Cereal Yield 5,340 kg/hectare (2017)
Food production index 110 (2016)
Rural Population 9 % (2018)
Fertilizer use of Arable Land 262 kg/hectare (2016)
Livestock Production Index 112 (2016)
Economy of Luxembourg

According to the World Bank and its latest published data, the economy of the Luxembourg presents a growth rate of 3.11 % (2018) to the previous year.

With a population that reaches 0.61 M (2018) and a gross domestic product of USD 70.89 B. (2018), it translates a Gross Domestic Product per Capita of USD 116,640 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Luxembourg also has a workforce of 0.30 M. (2019) with an unemployment rate of 5.41 % (2019), where women represent 5.89 % (2019) and men 4.92 % (2019), the unemployment rate for young people between 15-24 years old stood at 15.58 % (2019). The total number of dependent people stands at 42.98 % (2018).

The central government spent 16.66 % (2018) of its gross domestic product that year, which in absolute terms is USD 11.81 B. (2018). Its consolidated public debt reached 22.10 of its GDP, not exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Luxembourg exported USD 149.96 B. (2018), which represents 211.56 % (2018) of its gross domestic product, in that same sense its imports reached USD 124.44 B. (2018) with a direct foreign investment of USD 31.88 B. (2016).

Luxembourg has a forest area of 867 km² (2016), which represents 35.70 % (2016) of its total area, an average rainfall of 934 mm (2014) per year and a population of 9 % (2018) living in rural areas. With a total area of 1,305 km² (2016) available for agriculture and 1.36 % (2019) of its employments, the agricultural sector contributes to the economy of the Luxembourg about USD 0.16 B. (2018) (0.23 % (2018) of its GDP).