The Gross Domestic Product (GDP) in Luxembourg contracted 7.80 percent in the second quarter of 2020 over the same quarter of the previous year.

GDP Annual Growth Rate in Luxembourg averaged 3.37 percent from 1996 until 2020, reaching an all time high of 12.10 percent in the first quarter of 2000 and a record low of -7.80 percent in the second quarter of 2020. This page provides - Luxembourg GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Luxembourg GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

GDP Annual Growth Rate in Luxembourg is expected to be -5.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Luxembourg to stand at 5.50 in 12 months time. In the long-term, the Luxembourg GDP Annual Growth Rate is projected to trend around 3.30 percent in 2021 and 2.50 percent in 2022, according to our econometric models.

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Luxembourg GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-7.80 1.50 12.10 -7.80 1996 - 2020 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-12-20 11:00 AM Q3 3.0% 3.2% 2.3%
2020-03-20 11:00 AM Q4 3.1% 2.8% 2.2%
2020-06-29 10:00 AM Q1 -0.2% 3.0% 0.3%
2020-09-18 10:00 AM Q2 -7.8% 1.5% -7.5%
2020-12-21 11:00 AM Q3 -7.8% -5.5%

Luxembourg GDP Annual Growth Rate
On the expenditure side, external balance of exports and imports is the main component of GDP and accounts for 35 percent of its total use, as exports of goods and services account for 200 percent while imports account for 165 percent. It is followed by household consumption (30 percent of GDP) gross fixed capital formation (18 percent) and government expenditure (17 percent).