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Luxembourg

Grand Duché de Luxembourg

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$37.951 billion (2023 est.)

expenditures

$38.263 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$184.53 billion (2022 est.)

Exports 2023

$195.294 billion (2023 est.)

Exports 2024

$202.203 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$149.751 billion (2022 est.)

Imports 2023

$156.818 billion (2023 est.)

Imports 2024

$160.032 billion (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

Labor force

350,000 (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: data cover general government debt and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intragovernmental debt; intragovernmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions

Public debt 2017

23% of GDP (2017 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

2.8% of GDP (2022 est.)

Remittances 2023

2.8% of GDP (2023 est.)

Remittances 2024

2.6% of GDP (2024 est.)

Exchange rates

Currency

euros (EUR) per US dollar -

Exchange rates 2020

0.876 (2020 est.)

Exchange rates 2021

0.845 (2021 est.)

Exchange rates 2022

0.95 (2022 est.)

Exchange rates 2023

0.925 (2023 est.)

Exchange rates 2024

0.924 (2024 est.)

Economic overview

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

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

4.6% (2022 est.)

Unemployment rate 2023

5.2% (2023 est.)

Unemployment rate 2024

6% (2024 est.)

Exports - partners

Germany 18%, France 15%, Belgium 8%, Netherlands 7%, Italy 6% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

Belgium 26%, Germany 23%, France 10%, Netherlands 5%, USA 4% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$132,600 (2022 est.)

Real GDP per capita 2023

$129,000 (2023 est.)

Real GDP per capita 2024

$128,200 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

-1.1% (2022 est.)

Real GDP growth rate 2023

-0.7% (2023 est.)

Real GDP growth rate 2024

1% (2024 est.)

Agricultural products

milk, wheat, barley, triticale, potatoes, pork, grapes, beef, rye, rapeseed (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

iron blocks, gas turbines, plastic products, rubber tires, plastics (2023)

note: top five export commodities based on value in dollars

Imports - commodities

cars, refined petroleum, electricity, plastic products, gas turbines (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

$7.509 billion (2022 est.)

Current account balance 2023

$9.861 billion (2023 est.)

Current account balance 2024

$12.877 billion (2024 est.)

Taxes and other revenues

27.2% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$93.197 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

31.6% (2023 est.)

government consumption

18.6% (2023 est.)

investment in inventories

1.3% (2023 est.)

investment in fixed capital

16.1% (2023 est.)

exports of goods and services

217.8% (2023 est.)

imports of goods and services

-186.7% (2023 est.)

Population below poverty line

17.3% (2021 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

6.3% (2022 est.)

Inflation rate (consumer prices) 2023

3.7% (2023 est.)

Inflation rate (consumer prices) 2024

2.1% (2024 est.)

Industrial production growth rate

-1.1% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$86.584 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$85.984 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$86.871 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

16.9% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

20.2% (2024 est.)

female

24.2% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$2.874 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$2.977 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$2.789 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

9% (2024 est.)

services

81.9% (2024 est.)

agriculture

0.2% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

2.9% (2022 est.)

highest 10%

25.6% (2022 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2022

34.1 (2022 est.)