Markets Actual Q4 Q1 Q2 Q3 2021
Currency 1.19 1.18 1.18 1.17 1.17 1.16
Stock Market (points) 1090.57 1042 1002 963 926 852

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -7.20 1 1.2 0.6 1 0.6
GDP Annual Growth Rate (%) -7.80 -4 2.8 5.5 4.8 3.3
Unemployment Rate (%) 6.30 7.5 7.4 7.3 7.3 6.8
Inflation Rate (%) 0.70 0.8 1 1.8 1.8 1.6
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Billion) -0.54 -0.94 -0.94 -0.94 -0.94 -0.94
Current Account (EUR Million) 545.60 1400 1400 1400 1400 1150
Current Account to GDP (%) 4.50 4.9 4.6 4.6 4.6 4.6
Government Debt to GDP (%) 22.10 23 25.5 25.5 25.5 25.5
Government Budget (% of GDP) 2.20 -2.8 -3.6 -3.6 -3.6 -3.6
Business Confidence (points) 96.90 98 100 101 102 103
Consumer Confidence (points) -11.70 -10 -9 -8 -9 -7
Retail Sales Mom (%) 0.30 0.4 0.4 0.4 0.4 0.4
Corporate Tax Rate (%) 24.94 27.08 27.08 27.08 27.08 27.08
Personal Income Tax Rate (%) 45.78 48.78 45.78 45.78 45.78 48.78

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -7.20 1 1.2 0.6 1 0.6
GDP Annual Growth Rate (%) -7.80 -4 2.8 5.5 4.8 3.3
GDP (USD Billion) 71.10 67 68.5 68.5 68.5 68.5
GDP Constant Prices (EUR Million) 12738.20 12945 12597 13095 13439 13294
Gross Fixed Capital Formation (EUR Million) 2033.00 2575 2427 2090 2145 2644
GDP per capita (USD) 111062.34 109500 110000 110000 110000 110000
GDP per capita PPP (USD) 114481.50 108000 110000 110000 110000 110000

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 6.30 7.5 7.4 7.3 7.3 6.8
Wages (EUR/Month) 5382.90 5200 5200 5200 5200 5200
Minimum Wages (EUR/Month) 2141.99 2095 2095 2095 2095 2115
Population (Million) 0.61 0.62 0.63 0.63 0.63 0.63
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 0.70 0.8 1 1.8 1.8 1.6
Harmonised Consumer Prices (points) 106.50 109 109 109 109 111
Consumer Price Index CPI (points) 106.62 108 107 107 108 110
Core Consumer Prices (points) 107.10 106 107 107 107 107
Producer Prices (points) 104.09 110 106 104 110 113
Inflation Rate Mom (%) 0.00 0.7 0.7 0.7 0.7 0.7
Producer Prices Change (%) -0.80 1.8 1.8 1.8 1.8 2.2
CPI Transportation (points) 102.32 107 106 103 103 109
Food Inflation (%) 2.96 2.2 2.2 2.2 2.2 2.2

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 0.00 0 0 0 0 0

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (EUR Billion) -0.54 -0.94 -0.94 -0.94 -0.94 -0.94
Current Account (EUR Million) 545.60 1400 1400 1400 1400 1150
Current Account to GDP (%) 4.50 4.9 4.6 4.6 4.6 4.6
Imports (EUR Billion) 1.59 2 2 2 2 2
Exports (EUR Billion) 1.05 1.06 1.06 1.06 1.06 1.06

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 22.10 23 25.5 25.5 25.5 25.5
Government Budget (% of GDP) 2.20 -2.8 -3.6 -3.6 -3.6 -3.6
Government Budget Value (EUR Million) 1600.00 903 903 903 903 950
Government Spending (EUR Million) 2261.90 2288 2178 2325 2386 2350
Government Spending to GDP (%) 42.60 50.5 46.5 46.5 46.5 46.5

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 24.94 27.08 27.08 27.08 27.08 27.08
Personal Income Tax Rate (%) 45.78 48.78 45.78 45.78 45.78 48.78
Sales Tax Rate (%) 17.00 17 17 17 17 17
Social Security Rate (%) 27.44 25.12 25.12 25.12 25.12 25.12
Social Security Rate For Companies (%) 14.99 12.67 14.99 14.99 14.99 12.67
Social Security Rate For Employees (%) 12.45 12.45 12.45 12.45 12.45 12.45

Business Actual Q4 Q1 Q2 Q3 2021
Business Confidence (points) 96.90 98 100 101 102 103

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) -11.70 -10 -9 -8 -9 -7
Retail Sales Mom (%) 0.30 0.4 0.4 0.4 0.4 0.4
Retail Sales Yoy (%) -11.90 1.5 1.5 1.8 1.8 2
Consumer Spending (EUR Million) 3725.30 4033 3774 3830 3930 4142
Consumer Credit (EUR Million) 1872.00 1663 1621 1887 1941 1708
Bank Lending Rate (%) 1.57 1.98 1.68 1.68 1.68 2.48
Gasoline Prices (USD/Liter) 1.34 1.16 1.16 1.1 1.04 1.1


This page has economic forecasts for Luxembourg including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Luxembourg economy.