Luxembourg's economy expanded by 0.9 percent quarter-over-quarter in the three months to September of 2021, following a revised flat reading in the previous period and marking the fifth quarter in a row without contracting. Growth was exclusively supported by consumption expenditure of households and non-profit institutions serving households (2.0 percent vs 1.9 percent in Q2). However, the contribution from net foreign demand was less negative, as the gap between export growth (0.0 percent vs 1.1 percent) and import growth (0.2 percent vs 1.5 percent) shrank. On the other hand, negative growth rates were seen in public expenditure (-0.3 percent vs 1.6 percent) and gross fixed capital formation (-1.4 percent vs 2.7 percent). Year-on-year, GDP hiked 5.3 percent, slowing from an upwardly revised 12.6 percent hike in Q2. source: STATEC, Luxembourg

GDP Growth Rate in Luxembourg averaged 0.84 percent from 1995 until 2021, reaching an all time high of 7.90 percent in the third quarter of 2020 and a record low of -7.10 percent in the second quarter of 2020. This page provides - Luxembourg GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Luxembourg GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.

GDP Growth Rate in Luxembourg is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Luxembourg GDP Growth Rate is projected to trend around 0.80 percent in 2022 and 1.00 percent in 2023, according to our econometric models.

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Luxembourg GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-09-30 10:00 AM Q2 -0.5% 3.2% 1%
2021-12-13 11:00 AM Q3 0.9% 0% 1.1%
2022-03-14 10:00 AM Q4 0.9%


Related Last Previous Unit Reference
GDP Growth Rate 0.90 0.00 percent Sep/21
GDP Annual Growth Rate 5.30 12.60 percent Sep/21
GDP Constant Prices 16001.50 15857.50 EUR Million Sep/21
Gross Fixed Capital Formation 2816.90 2938.20 EUR Million Sep/21

News Stream
Luxembourg GDP Growth Picks Up in Q3
Luxembourg's economy expanded by 0.9 percent quarter-over-quarter in the three months to September of 2021, following a revised flat reading in the previous period and marking the fifth quarter in a row without contracting. Growth was exclusively supported by consumption expenditure of households and non-profit institutions serving households (2.0 percent vs 1.9 percent in Q2). However, the contribution from net foreign demand was less negative, as the gap between export growth (0.0 percent vs 1.1 percent) and import growth (0.2 percent vs 1.5 percent) shrank. On the other hand, negative growth rates were seen in public expenditure (-0.3 percent vs 1.6 percent) and gross fixed capital formation (-1.4 percent vs 2.7 percent). Year-on-year, GDP hiked 5.3 percent, slowing from an upwardly revised 12.6 percent hike in Q2.
2021-12-13
Luxembourg GDP Contracts for 1st Time in a Year
Luxembourg's economy contracted 0.5 percent on quarter in the three months to June 2021, following an upwardly revised 3.2 percent expansion in the previous period. It was the first GDP contraction in a year, as household consumption declined faster (-1.7 percent vs -0.3 percent in Q1). Meantime, government expenditure rebounded (0.4 percent vs flat reading) and gross fixed capital formation advanced further (3.3 percent vs 2.8 percent). Net foreign demand contributed positively to GDP, as exports rose 1.7 percent (vs 4.5 percent in Q1) while imports went up at a softer 1.4 percent (vs 3 percent in Q1). Year-on-year, the GDP grew 11.8 percent, accelerating from an upwardly revised 5.2 percent advance in Q1.
2021-09-30
Luxembourg GDP Growth Slows Further in Q1
Luxembourg's economy grew by 1.4 percent on quarter in the three months to March of 2021, following an upwardly revised 1.9 percent expansion in the previous period and an unprecedented 7.1 percent contraction in April-June 2020. Government spending advanced 3.8 percent (vs 0.7 percent in Q4) while net external demand contributed negatively to the GDP as exports (1.2 percent) rose less than imports (2 percent). At the same time, household consumption shrank 2.4 percent (the same pace as in Q4) and fixed investment continued to fall although much less (-0.8 percent vs -11.5 percent).
2021-06-14

Luxembourg GDP Growth Rate
The economy of Luxembourg is dependent on the banking, steel, and industrial sectors and the country has one of the highest GDP per capita in the world. 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).