Markets Actual Q3 Q4 Q1 Q2 2023
Currency 1.02 1.01 1 0.99 0.98 0.95
Stock Market (points) 1519.82 1453 1398 1346 1295 1200

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 1.20 0 0.3 0.6 1 0.8
GDP Annual Growth Rate (%) 4.00 2.5 2.5 2.9 2.6 2.8
Unemployment Rate (%) 4.70 5.3 5.2 5.2 5.2 5.1
Inflation Rate (%) 6.70 6.1 5.3 5 4.5 4.3
Interest Rate (%) 0.50 0.75 1.25 1.5 1.75 1.75
Balance of Trade (EUR Billion) -0.59 -0.94 -0.94 -0.94 -0.94 -0.94
Current Account (EUR Million) 439.50 350 -400 500 750 500
Current Account to GDP (% of GDP) 4.80 5.2 5.2 5.2 5.2 4.9
Government Debt to GDP (% of GDP) 24.40 25.5 26.2 26.2 26.2 26.2
Government Budget (% of GDP) 0.90 -0.2 -0.2 0.1 0.1 0.1
Business Confidence (points) 94.20 96.5 105 105 105 105
Consumer Confidence (points) -22.60 1.9 1 1 1 -2
Retail Sales Mom (%) -0.60 3 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 48.78 48.78 48.78 48.78

GDP Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 1.20 0 0.3 0.6 1 0.8
GDP Annual Growth Rate (%) 4.00 2.5 2.5 2.9 2.6 2.8
GDP (USD Billion) 86.71 68.5 71.5 71.5 71.5 71.5
GDP Constant Prices (EUR Million) 16345.40 16191 16340 16423 16819 16883
Gross Fixed Capital Formation (EUR Million) 2916.00 3000 2874 3156 3001 3244
GDP per capita (USD) 110584.33 110000 111500 111500 111500 111500
GDP per capita PPP (USD) 118680.04 110000 111200 111200 111200 111200

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 4.70 5.3 5.2 5.2 5.2 5.1
Wages (EUR/Month) 5465.70 5200 5200 5200 5200 5200
Minimum Wages (EUR/Month) 2313.38 2270 2270 2270 2270 2340
Population (Million) 0.63 0.63 0.64 0.64 0.64 0.64
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 6.70 6.1 5.3 5 4.5 4.3
Consumer Price Index CPI (points) 115.58 116 117 121 122 122
Harmonised Consumer Prices (points) 119.04 111 111 111 111 111
Core Consumer Prices (points) 113.33 111 112 113 115 113
Core Inflation Rate (%) 4.80 1.7 1.6 1.6 1.6 1
Producer Prices (points) 146.24 125 128 136 150 130
Inflation Rate Mom (%) -1.00 1 0.7 0.7 0.7 0.7
Producer Prices Change (%) 30.00 4 2.7 2.7 2.7 1.5
Food Inflation (%) 6.80 1.6 2.2 2.2 2.2 2.2
CPI Transportation (points) 121.30 123 123 124 125 126

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 0.50 0.75 1.25 1.5 1.75 1.75
Banks Balance Sheet (EUR Million) 1413916.00 1383829 1383829 1383829 1383829 1483829

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (EUR Billion) -0.59 -0.94 -0.94 -0.94 -0.94 -0.94
Current Account (EUR Million) 439.50 350 -400 500 750 500
Current Account to GDP (% of GDP) 4.80 5.2 5.2 5.2 5.2 4.9
Exports (EUR Billion) 1.49 1.06 1.06 1.06 1.06 1.06
Imports (EUR Billion) 2.08 2 2 2 2 2

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 24.40 25.5 26.2 26.2 26.2 26.2
Government Budget (% of GDP) 0.90 -0.2 -0.2 0.1 0.1 0.1
Government Budget Value (EUR Million) -2620.20 950 950 950 950 950
Government Spending (EUR Million) 2837.90 2836 2834 2905 2920 2986
Government Spending to GDP (% of GDP) 42.30 46.5 46.5 46.5 46.5 46.5

Taxes Actual Q3 Q4 Q1 Q2 2023
Corporate Tax Rate (%) 24.94 27.08 27.08 27.08 27.08 27.08
Personal Income Tax Rate (%) 45.78 48.78 48.78 48.78 48.78 48.78
Sales Tax Rate (%) 17.00 17 17 17 17 17
Social Security Rate (%) 27.62 25.12 25.12 25.12 25.12 25.12
Social Security Rate For Companies (%) 15.17 12.67 12.67 12.67 12.67 12.67
Social Security Rate For Employees (%) 12.45 12.45 12.45 12.45 12.45 12.45

Business Actual Q3 Q4 Q1 Q2 2023
Business Confidence (points) 94.20 96.5 105 105 105 105

Consumer Actual Q3 Q4 Q1 Q2 2023
Consumer Confidence (points) -22.60 1.9 1 1 1 -2
Retail Sales Mom (%) -0.60 3 0.4 0.4 0.4 0.4
Retail Sales Yoy (%) -2.48 2 0.8 0.8 0.8 0.8
Consumer Spending (EUR Million) 4786.30 4738 4812 4784 4925 4918
Consumer Credit (EUR Million) 1720.00 1801 1728 1807 1765 1777
Gasoline Prices (USD/Liter) 1.93 2 2.08 2.15 2.24 2.24
Bank Lending Rate (%) 1.34 1.59 2.09 2.34 2.59 2.59


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Luxembourg Forecast - was last updated on Wednesday, August 17, 2022.