GDP in Luxembourg

Luxembourg GDP | Economic News & Forecasts

Luxembourg - GDP

Growth hits one-and-a-half-year high in Q4 2019

Growth accelerated to 3.1% year-on-year in the fourth quarter of 2019, up from the third quarter’s downwardly revised 2.8% expansion (previously reported: +3.0% year-on-year) and marking the strongest expansion since Q2 2018, according to a first estimate released by the Statistical Institute (STATEC) on 20 March. On a quarter-on-quarter, seasonally-adjusted basis, the economy expanded 0.4% in Q4, which was down from Q3’s upwardly revised 0.3% rise (previously reported: +0.2% quarter-on-quarter). Taking the year as a whole, GDP grew 2.3% in 2019, markedly down from the 3.1% expansion in 2018.

In the fourth quarter, public expenditure growth moderated marginally to 5.3% from a revised 5.4% in Q3 (previously reported: +5.5% yoy), while private consumption growth—which includes spending from non-profit institutions serving households—slowed to 1.8% from an upwardly revised 2.8% (previously reported: +2.3% yoy). Meanwhile, fixed investment growth decelerated to 7.3% from Q3’s upwardly revised 9.4% rise (previously reported: +9.0% yoy).

On the external front, export growth lost considerable pace in the fourth quarter amid the subdued global trading environment, coming in at 1.2%, down from a revised 2.6% rise in Q3 (previously reported: +3.1% yoy). Meanwhile, import growth also lost traction, slowing to 1.5% from Q3’s revised 3.1% expansion (previously reported:+3.5% yoy).

Looking forward, growth is expected to slow this year, restrained by the fallout from the coronavirus pandemic.

FocusEconomics Consensus Forecast panelists see GDP growth at 2.4% in 2020, which is down 0.1 percentage points from last month’s forecast, and 2.5% in 2021.

Luxembourg - GDP Data

2014   2015   2016   2017   2018  
Economic Growth (GDP, annual variation in %)4.3  4.3  4.6  1.8  3.1  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.


Luxembourg GDP Chart

Luxembourg GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: National Statistical Institute of Luxembourg.

Luxembourg Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.


Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form