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    Luxembourg - Economy
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    How is the economy of Luxembourg? Based on the information we have, Luxembourg has a <p>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</p>. 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 N/A
    Exchange rates
    Currencyeuros (EUR) per US dollar -
    Exchange rates 20240.924 (2024 est.)
    Exchange rates 20230.925 (2023 est.)
    Exchange rates 20220.95 (2022 est.)
    Exchange rates 20210.845 (2021 est.)
    Exchange rates 20200.876 (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 201723% of GDP (2017 est.)
    Budget
    Revenues$37.951 billion (2023 est.)
    Expenditures$38.263 billion (2023 est.)
    Budget surplus (+) or deficit (-) N/A
    Remittances
    Remittances 20242.6% of GDP (2024 est.)
    Remittances 20232.8% of GDP (2023 est.)
    Remittances 20222.8% 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 forcecars, refined petroleum, electricity, plastic products, gas turbines (2023)
    Exports
    Exports 2024$202.203 billion (2024 est.)
    Exports 2023$195.294 billion (2023 est.)
    Exports 2022$184.53 billion (2022 est.)
    Exports (partners)Germany 18%, France 15%, Belgium 8%, Netherlands 7%, Italy 6% (2023)
    Comodities Exports forceiron 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
    Agriculture0.2% (2024 est.)
    Industry9% (2024 est.)
    Services81.9% (2024 est.)
    GDP - composition, by end use
    Household consumption31.6% (2023 est.)
    Government consumption18.6% (2023 est.)
    Investment in fixed capital16.1% (2023 est.)
    Investment in inventories1.3% (2023 est.)
    Exports of goods and services217.8% (2023 est.)
    Imports of goods and services-186.7% (2023 est.)
    Unemployment rate
    Unemployment rate 20246% (2024 est.)
    Unemployment rate 20235.2% (2023 est.)
    Unemployment rate 20224.6% (2022 est.)
    Youth unemployment rate (ages 15-24)
    Total20.2% (2024 est.)
    Male16.9% (2024 est.)
    Female24.2% (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