The Gross Domestic Product per capita in Luxembourg was last recorded at 103909.19 US dollars in 2024. The GDP per Capita in Luxembourg is equivalent to 823 percent of the world's average. This dataset provides the latest reported value for - Luxembourg GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Luxembourg GDP Per Capita

• Luxembourg Gross Domestic Product (GDP) per Capita reached 132,485.619 USD in Dec 2021, compared with 116,317.268 USD in Dec 2020.
• Luxembourg GDP Per Capita data is updated yearly, available from Dec 1995 to Dec 2021, with an average number of 105,267.896 USD.
• The data reached an all-time high of 132,485.619 USD in Dec 2021 and a record low of 46,641.004 in Dec 1997.
• CEIC calculates GDP per Capita from annual Nominal GDP and annual Population and converts it into USD. The Statistics Portal of Luxembourg provides Nominal GDP in EUR and Population. Federal Reserve Board average market exchange rate is used for currency conversions. GDP per Capita prior to 2000 is calculated from Population sourced from the World Bank.

Related information about Luxembourg GDP Per Capita data

• In the latest reports, Luxembourg GDP expanded 3.013 % YoY in Sep 2022.
• Luxembourg Nominal GDP reached 20.283 USD bn in Sep 2022.
• Its GDP deflator (implicit price deflator) increased 7.031 % in Sep 2022.
• Gross Savings Rate of Luxembourg was measured at 52.515 % in Sep 2022.

The Gross Domestic Product per capita in Luxembourg was last recorded at 128181.70 US dollars in 2024, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Luxembourg, when adjusted by Purchasing Power Parity is equivalent to 722 percent of the world's average. This dataset provides the latest reported value for - Luxembourg GDP per capita PPP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Luxembourg Investment: % of GDP

• Luxembourg Investment accounted for 15.6 % of its Nominal GDP in Sep 2022, compared with a ratio of 18.6 % in the previous quarter.
• Luxembourg investment share of Nominal GDP data is updated quarterly, available from Mar 1995 to Sep 2022, with an average ratio of 19.1 %.
• The data reached an all-time high of 27.2 % in Jun 1999 and a record low of 11.0 % in Mar 2009.

CEIC calculates Investment as % of Nominal GDP from quarterly Nominal Gross Capital Formation and quarterly Nominal GDP. The Statistics Portal of Luxembourg provides Nominal Gross Capital Formation in EUR and Nominal GDP in EUR.


Related information about Luxembourg Investment: % of GDP

• In the latest reports, Luxembourg GDP expanded 3.0 % YoY in Sep 2022.
• Luxembourg Nominal GDP reached 20.3 USD bn in Sep 2022.
• Its GDP deflator (implicit price deflator) increased 7.0 % in Sep 2022.
• Luxembourg GDP Per Capita reached 132,485.6 USD in Dec 2021.
• Its Gross Savings Rate was measured at 52.5 % in Sep 2022.

Gross domestic product (GDP) per capita is a measure of economic production, which takes the entire output of a national economy during a year and divides it by the population of that country. In the European Union, Luxembourg, Ireland, Denmark, the Netherlands, and Austria come out on top as the countries which produced the most per capita in 2024. Europe's richest countries benefit from multinational companies Many criticisms have been made of using GDP per capita as away to judge a country's economic wealth in recent years, as global capital flows have come to distort the statistics and to give a warped impression of different countries' wealth. This is most notably the case for Ireland and for Luxembourg, which while certainly high-income countries, have experienced dramatic booms in their GDP over the past two decades due to the accounting practices of the large multinational corporations which have their European headquarters in these member states, such as Facebook and Apple in Dublin, and Amazon in Luxembourg. Will the poorest countries converge towards the EU average? At the bottom of the list, two of the most recent member states of the EU, Romania and Bulgaria, come last in terms of GDP per capita. Whether these countries will be able to capitalize on their relatively low-wages to spur economic growth and experience the convergence towards the older member states of the union shown by countries such as Estonia, Czechia, and Lithuania, remains a pressing issue for these poorer member states.

Key information about Luxembourg Public Consumption: % of GDP

• Luxembourg Public Consumption accounted for 19.2 % of its Nominal GDP in Sep 2024, compared with a share of 18.8 % in the previous quarter.
• Luxembourg Public Consumption share of Nominal GDP ratio is updated quarterly, available from Mar 1995 to Sep 2024, with an average number of 15.8 %.
• The data reached an all-time high of 22.5 % in Dec 2023 and a record low of 13.4 % in Jun 2007.

CEIC calculates Government Consumption as % of Nominal GDP from quarterly Government Consumption Expenditure and quarterly Nominal GDP. The Statistics Portal of Luxembourg provides Government Consumption Expenditure in EUR and Nominal GDP in EUR.


Related information about Luxembourg Public Consumption: % of GDP

• In the latest reports, Luxembourg GDP contracted 0.4 % YoY in Mar 2023.
• Luxembourg Nominal GDP reached 22.0 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 7.1 % in Mar 2023.
• Luxembourg GDP Per Capita reached 124,327.5 USD in Dec 2022.
• Its Gross Savings Rate was measured at 52.5 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 17.9 % in Mar 2023.
• Private Consumption accounted for 30.2 % in Mar 2023.

In 2024 the real gross domestic product (GDP) of the United States increased by 2.8 percent compared to 2023.
What does GDP growth mean? Essentially, the annual GDP of the U.S. is the monetary value of all goods and services produced within the country over a given year. On the surface, an increase in GDP therefore means that more goods and services have been produced between one period than another. In the case of annualized GDP, it is compared to the previous year. In 2023, for example, the U.S. GDP grew 2.5 percent compared to 2022. Countries with highest GDP growth rate Although the United States has by far the largest GDP of any country, it does not have the highest GDP growth, nor the highest GDP at purchasing power parity. In 2021, Libya had the highest growth in GDP, growing more than 177 percent compared to 2020. Furthermore, Luxembourg had the highest GDP per capita at purchasing power parity, a better measure of living standards than nominal or real GDP.

Key information about Luxembourg Nominal GDP

• Luxembourg Nominal GDP reached 22.0 USD bn in Mar 2023, compared with 19.5 USD bn in the previous quarter.
• Nominal GDP in Luxembourg is updated quarterly, available from Mar 1995 to Mar 2023, with an average number of 13.8 USD bn.
• The data reached an all-time high of 22.0 USD bn in Mar 2023 and a record low of 4.6 USD bn in Mar 1998.

CEIC converts quarterly Nominal GDP into USD. The Statistics Portal of Luxembourg provides Nominal GDP in EUR. Federal Reserve Board average market exchange rate is used for currency conversions.


Related information about Luxembourg Nominal GDP

• In the latest reports, Luxembourg GDP contracted 0.4 % YoY in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 7.1 % in Mar 2023.
• Luxembourg GDP Per Capita reached 124,327.5 USD in Dec 2022.
• Its Gross Savings Rate was measured at 52.5 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 17.9 % in Mar 2023.
• Public Consumption accounted for 17.3 % in Mar 2023.
• Private Consumption accounted for 30.2 % in Mar 2023.

Engel's law is an economic theory first put forward by Ernst Engel in 1857, claiming that the higher a family's income is, the lower the share of that income is that goes into food. This theory definitely rings true when looking at European consumer buying behavior in the 20th century, with Switzerland as a prime example. In 1912, Swiss families spent approximately 61 percent of their income on food and clothing, which then fell to 47 percent in 1949. The continued rise of European capitalism and consumerism saw this figure fall to just 12 percent by the end of the millennium. At that point, Switzerland had developed into one of the wealthiest countries in the world, with the third-highest GDP per capita (behind Luxembourg and Japan, respectively).

Key information about Luxembourg GDP Deflator Growth

• Luxembourg GDP deflator (implicit price deflator) increased 7.0 % in Sep 2022, compared with an increase of 9.3 % in the previous quarter.
• Luxembourg GDP Deflator Growth data is updated quarterly, available from Mar 1996 to Sep 2022, with an average rate of 2.7 %.
• The data reached an all-time high of 10.0 % in Sep 1996 and a record low of -5.0 % in Sep 1998.

CEIC calculates GDP Deflator Growth from quarterly Nominal and Real GDP. The Statistics Portal of Luxembourg provides Nominal GDP in EUR and Real GDP in EUR, at chain linked 2015 prices.


Related information about Luxembourg GDP Deflator Growth

• In the latest reports, Luxembourg GDP expanded 3.0 % YoY in Sep 2022.
• Its Nominal GDP reached 20.3 USD bn in Sep 2022.
• Luxembourg GDP Per Capita reached 132,485.6 USD in Dec 2021.
• Its Gross Savings Rate was measured at 52.5 % in Sep 2022.

Luxembourg LU: GDP: Value Added data was reported at 53,989.877 EUR mn in 2022. This records an increase from the previous number of 49,957.685 EUR mn for 2021. Luxembourg LU: GDP: Value Added data is updated yearly, averaging 16,617.600 EUR mn from Dec 1981 (Median) to 2022, with 42 observations. The data reached an all-time high of 53,989.877 EUR mn in 2022 and a record low of 3,257.151 EUR mn in 1981. Luxembourg LU: GDP: Value Added data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Luxembourg – Table LU.OECD.MSTI: Gross Domestic Product, GDP PPP and GDP Deflator: OECD Member: Annual. In Luxembourg, a better identification of R&D in software-related activities resulted in a break in series in 2012 for BERD (and GERD). From 2009, some budgetary items of the Ministry of Research and other ministries are no longer included in the government's own R&D funds. The impact on GOVERD is a drop of less than 7 million. The significant increase in R&D performed in the higher education sector in 2004 is due to the re-defined role of higher education in the national system of innovation and research, in particular the newly created University of Luxembourg.Government budget allocations for space programs and GUF are included from 2006.

Luxembourg LU: Gross Domestic Product data was reported at 79,309.622 EUR mn in 2023. This records an increase from the previous number of 77,529.000 EUR mn for 2022. Luxembourg LU: Gross Domestic Product data is updated yearly, averaging 25,011.094 EUR mn from Dec 1981 (Median) to 2023, with 43 observations. The data reached an all-time high of 79,309.622 EUR mn in 2023 and a record low of 4,651.394 EUR mn in 1981. Luxembourg LU: Gross Domestic Product data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Luxembourg – Table LU.OECD.MSTI: Gross Domestic Product, GDP PPP and GDP Deflator: OECD Member: Annual.

In Luxembourg, a better identification of R&D in software-related activities resulted in a break in series in 2012 for BERD (and GERD). From 2009, some budgetary items of the Ministry of Research and other ministries are no longer included in the government’s own R&D funds. The impact on GOVERD is a drop of less than 7 million.

As of 2023, the European country with the largest outward foreign direct investment (FDI) stock when compared with its gross domestic product was Luxembourg, with had outward FDI stocks worth over 19 times its GDP. The small Western European country has become a hub for the European headquarters of multinational corporations and financial institutions, due to its strategic importance for the administration and politics of the European Union, as well as its relatively relaxed investment relations and low corporation tax rates. Much of the outward flows from Luxembourg reflect transfers of companies based in Luxembourg to their foreign affiliates.The Netherlands, Ireland, and Switzerland also have large outward FDI stocks in comparison with their GDP, due to their similarly liberal regulatory regimes and low corporation tax, meaning that they also have a large number of affiliates of multination corporations and financial institutions based in these countries. On the other hand, Slovakia was the European country with the smallest outward FDI stock when compared with its GDP, with the Central European country have outward FDI stocks worth only four percent of its annual economic output.

Key information about Luxembourg Gross Savings Rate

• Luxembourg Gross Savings Rate was measured at 52.5% in Sep 2022, compared with 52.5% in the previous quarter.
• Luxembourg Gross Savings Rate is updated quarterly, with data available from Mar 1995 to Sep 2022, and an average rate of 52.5%.
• The data reached an all-time high of 52.5% in Jun 2020 and a record low of 36.8% in Sep 1995.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. The Statistics Portal of Luxembourg provides Final Consumption Expenditure in EUR and Nominal GDP in EUR.
• In the latest reports, Luxembourg GDP expanded 3.0% YoY in Sep 2022.
• Luxembourg Nominal GDP reached 20,283.4 USD mn in Sep 2022. Its GDP deflator (implicit price deflator) increased 7.0% in Sep 2022.
• Luxembourg GDP Per Capita reached 132,485.6 USD in Dec 2021.

Luxembourg LU: GDP: Growth: Gross Value Added: Services data was reported at 2.646 % in 2016. This records a decrease from the previous number of 2.746 % for 2015. Luxembourg LU: GDP: Growth: Gross Value Added: Services data is updated yearly, averaging 3.439 % from Dec 1996 (Median) to 2016, with 21 observations. The data reached an all-time high of 8.491 % in 2000 and a record low of -3.481 % in 2009. Luxembourg LU: GDP: Growth: Gross Value Added: Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Luxembourg – Table LU.World Bank: Gross Domestic Product: Annual Growth Rate. Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

This statistic shows the result of the survey question: "In your country, to what extent do regulators ensure the stability of the financial market?*". Of the Benelux countries, Luxembourg has the highest score when it comes to the regulation of securities exchanges. The Global Competitiveness Index (GCI) combines 114 indicators that capture concepts that matter for productivity and long-term prosperity. These indicators are grouped into 12 pillars: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation. These pillars are in turn organized into three subindexes: basic requirements, efficiency enhancers, and innovation and sophistication factors. The three subindexes are given different weights in the calculation of the overall Index, depending on each economy’s stage of development, as proxied by its GDP per capita and the share of exports represented by raw materials.

Out of the OECD countries, Luxembourg was the country that spent the most on educational institutions per full-time student in 2020. On average, 23,000 U.S dollars were spent on primary education, nearly 27,000 U.S dollars on secondary education, and around 53,000 U.S dollars on tertiary education. The United States followed behind, with Norway in third. Meanwhile, the lowest spending was in Mexico.