GDP per capita in Luxembourg

Luxembourg GDP per capita (EUR) | Economic News & Forecasts

Luxembourg - GDP per capita (Euros)

The economy expands at the fastest pace in a year in Q2

Growth accelerated to 3.7% year-on-year in the second quarter, marking the highest print in a year, following the first quarter’s downwardly revised 1.0% expansion (previously reported: +1.6% year-on-year). The improvement was led by a broad-based acceleration in both domestic and external demand, according to detailed data released by the Statistical Institute (STATEC) on 9 October.

In the second quarter, private consumption—which includes spending from non-profit institutions serving households—edged up to 2.8%, from 2.7% a month prior, while government spending rose 5.0% (Q1: +4.7% yoy). In contrast, fixed investment declined 0.4% from a 0.7% increase a quarter prior, as escalating trade tensions and lingering Brexit-linked uncertainties weighed on the country’s all-important financial sector.

Looking at the external sector, exports rebounded on an annual basis, coming in at 1.5% in Q2 (Q1: -0.9% yoy), despite the deceleration across the Eurozone’s largest economies. Similarly, import growth recovered in the quarter, expanding 0.3% after Q1’s 1.2% contraction.

On a quarter-on-quarter, seasonally-adjusted basis, the economy grew 2.2% in Q2, the fastest expansion since Q2 2016, following a 1.1% increase recorded in the previous quarter.

FocusEconomics Consensus Forecast panelists expect GDP growth to reach 3.0% in 2019, which is unchanged from last month’s forecast, and also 3.0% in 2020, which is also unchanged from last month’s forecast.

Luxembourg - GDP per capita (EUR) Data

2013  2014  2015  2016  2017  
GDP per capita (EUR)86,590  90,589  91,615  92,540  93,569  

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Luxembourg Facts

Exchange Rate1.110.65 %Nov 21
Stock Market6200.19 %Nov 21

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