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 348,100 (2024 est.)
Industrial production growth rate 0.48% (2023 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 27.8% (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 $2.602 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 $33.533 billion (2022 est.)
Expenditures $33.054 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 2.85% of GDP (2023 est.)
Remittances 2022 2.72% of GDP (2022 est.)
Remittances 2021 2.85% of GDP (2021 est.)
Household income
Lowest 10% 2.8% (2021 est.)
Highest 10% 24.5% (2021 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) 2023 $88.533 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $89.514 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $88.295 billion (2021 est.)
GDP (official exchange rate) $85.755 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $132,800 (2023 est.)
Real GDP per capita 2022 $137,100 (2022 est.)
Real GDP per capita 2021 $137,900 (2021 est.)
GDP - composition, by sector of origin
Agriculture 0.2% (2023 est.)
Industry 10.5% (2023 est.)
Services 80.6% (2023 est.)
GDP - composition, by end use
Household consumption 32.2% (2023 est.)
Government consumption 19% (2023 est.)
Investment in fixed capital 18.1% (2023 est.)
Investment in inventories -0.2% (2023 est.)
Exports of goods and services 212.5% (2023 est.)
Imports of goods and services -181.7% (2023 est.)
Unemployment rate
Unemployment rate 2024 5.9% (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