Luxembourg - Economy
How is the economy of Luxembourg? Based on the information we have, Luxembourg has a

high-income EU and eurozone economy; global, highly capitalized banking sector; one of highest GDP-per-capita countries; strengthened domestic demand and lower interest rates contributing to economic growth; challenges include pension-system sustainability, labor-market dynamics, and energy price volatility

. Key agricultural products in this country include: milk, wheat, barley, triticale, potatoes, pork, grapes, beef, rye, rapeseed (2023).
More about the economy of Luxembourg
Labor force 350,000 (2024 est.)
Industrial production growth rate -1.1% (2024 est.)
Industries banking and financial services, construction, real estate services, iron, metals, and steel, information technology, telecommunications, cargo transportation and logistics, chemicals, engineering, tires, glass, aluminum, tourism, biotechnology
Population below poverty line 17.3% (2021 est.)
Taxes and other revenues 27.2% (of GDP) (2023 est.)
Fiscal year
Exchange rates
Currency euros (EUR) per US dollar -
Exchange rates 2024 0.924 (2024 est.)
Exchange rates 2023 0.925 (2023 est.)
Exchange rates 2022 0.95 (2022 est.)
Exchange rates 2021 0.845 (2021 est.)
Exchange rates 2020 0.876 (2020 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024 $2.789 billion (2024 est.)
Reserves of foreign exchange and gold 2023 $2.977 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $2.874 billion (2022 est.)
Current account balance
Current account balance 2024 $12.877 billion (2024 est.)
Current account balance 2023 $9.861 billion (2023 est.)
Current account balance 2022 $7.509 billion (2022 est.)
Public debt
Public debt 2017 23% of GDP (2017 est.)
Budget
Revenues $37.951 billion (2023 est.)
Expenditures $38.263 billion (2023 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2024 2.6% of GDP (2024 est.)
Remittances 2023 2.8% of GDP (2023 est.)
Remittances 2022 2.8% of GDP (2022 est.)
Household income
Lowest 10% 2.9% (2022 est.)
Highest 10% 25.6% (2022 est.)
Imports
Imports 2024 $160.032 billion (2024 est.)
Imports 2023 $156.818 billion (2023 est.)
Imports 2022 $149.751 billion (2022 est.)
Imports (partners) Belgium 26%, Germany 23%, France 10%, Netherlands 5%, USA 4% (2023)
Comodities Imports force cars, refined petroleum, electricity, plastic products, gas turbines (2023)
Exports
Imports 2024 $160.032 billion (2024 est.)
Imports 2023 $156.818 billion (2023 est.)
Imports 2022 $149.751 billion (2022 est.)
Exports (partners) Germany 18%, France 15%, Belgium 8%, Netherlands 7%, Italy 6% (2023)
Comodities Exports force iron blocks, gas turbines, plastic products, rubber tires, plastics (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $86.871 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $85.984 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $86.584 billion (2022 est.)
GDP (official exchange rate) $93.197 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $128,200 (2024 est.)
Real GDP per capita 2023 $129,000 (2023 est.)
Real GDP per capita 2022 $132,600 (2022 est.)
GDP - composition, by sector of origin
Agriculture 0.2% (2024 est.)
Industry 9% (2024 est.)
Services 81.9% (2024 est.)
GDP - composition, by end use
Household consumption 31.6% (2023 est.)
Government consumption 18.6% (2023 est.)
Investment in fixed capital 16.1% (2023 est.)
Investment in inventories 1.3% (2023 est.)
Exports of goods and services 217.8% (2023 est.)
Imports of goods and services -186.7% (2023 est.)
Unemployment rate
Unemployment rate 2024 6% (2024 est.)
Unemployment rate 2023 5.2% (2023 est.)
Unemployment rate 2022 4.6% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 20.2% (2024 est.)
Male 16.9% (2024 est.)
Female 24.2% (2024 est.)
All Important Facts about Luxembourg

Want to know more about Luxembourg? Check all different factbooks for Luxembourg below.

Luxembourg is found in Western Europe