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Indicators of economy in Luxembourg

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.912 US Dollar per capita. In contrast, the GDP in Luxembourg reached 116.356 US dollars per inhabitant, or 73.35 bn US Dollar in the whole country. Luxembourg is therefore currently ranked 71 of the major economies. Calculate per inhabitant and taking into account the purchasing power parity, then Luxembourg is the richest country in the world.

Inflation in Luxembourg was in 2021 at around 2.53%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 14.0% higher.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Luxembourg

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in Luxembourg in 2020 increased from 70.20 billion US Dollar to 73.35 billion US Dollar. Certainly, there have been shifts in numerous sectors of the economy, but a 4.5 percent increase has been rather unusual this year. While most countries have suffered significant losses, Luxembourg has certainly held its own. The tourism sector alone slumped by around 21 percent. The unemployment rate rose from 5.6 to 6.8 percent. The country's gross debt increased by 16.0%. The inflation rate has fallen from 1.7 percent previously to 0.8 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Luxembourg
Total
Luxembourg
per capita
EU
Total
EU
per capita
GDP73.35 bn USD116,356.16 USD15,291.93 tn USD29,710.69 USD
Gross national product51.13 bn USD81,110.97 USD15,330.84 tn USD29,786.28 USD


Luxembourg ranked 35th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. 6 of the 2000 largest listed companies in the world originate from Luxembourg. This is determined annually in the Forbes Global 2000 list. The 6 largest companies in the country were in 2021:

Rank 540: ArcelorMittal (Luxembourg)
Rank 1171: Spotify Technology (Luxembourg)
Rank 1211: Eurofins Scientific Societe Europeenne (Luxembourg)
Rank 1254: Aroundtown (Luxembourg)
Rank 1442: Ternium (Luxembourg)
Rank 1696: RTL Group (Luxembourg)

Development of the Gross domestic product in billion US Dollar 1960 - 2020


Household debt and deficits 2021


 Luxembourg
Total
Luxembourg
per capita
EU
Total
EU
per capita
Gross debt21.12 bn USD33,498.44 USD15,068.26 tn USD29,276.12 USD
Budget deficit-768.52 m USD-1,219.06 USD799.24 bn USD1,552.84 USD

Please note: A negative budget deficit equivalents to a surplus


Im- and Exports 2021

 Luxembourg
Total
Luxembourg
per capita
EU
Total
EU
per capita
Imports120.76 bn USD191,550.97 USD7,340.01 bn USD14,260.90 USD
Exports148.11 bn USD234,941.98 USD7,939.04 bn USD15,424.75 USD


Development of imports and exports in billion US dollars 1999 - 2021

Exports
Imports



Luxembourg: AirportsLargest airports and airlines in LuxembourgThe biggest airports and Luxair in Luxembourg with further information and data
Luxembourg: Public HolidaysPublic holidays in Luxembourg 2022-2026Statutory and inofficial holidays in Luxembourg for 2022 to 2026
Pariah StatesList of the 11 current Pariah States11 countries, which suffer from the sanctions of the international community because of their mostly autocratic government.