Luxembourg’s economy grew 0.2% quarter-over-quarter in the third quarter of 2024, slowing from a 0.6% expansion in the previous period. Government spending (0.8% vs 1.4% in Q2) and gross fixed capital formation (0.5% vs 0.6%) rose at softer rates. Additionally, net external demand contributed negatively to the GDP, as exports dropped (-0.1% vs 1.3%) while imports increased (0.7% vs 0.6%). On the other hand, household consumption went up (1.7% vs 1.3%). On an annual basis, the GDP rose 1.2% in the September quarter, rebounding from a revised 0.1% contraction in the prior quarter. source: STATEC, Luxembourg

The Gross Domestic Product (GDP) in Luxembourg expanded 0.20 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Luxembourg averaged 0.75 percent from 1995 until 2024, reaching an all time high of 8.46 percent in the third quarter of 2020 and a record low of -6.90 percent in the second quarter of 1996. 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 2025.

The Gross Domestic Product (GDP) in Luxembourg expanded 0.20 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Luxembourg is expected to be 0.80 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 0.40 percent in 2025 and 0.60 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-09-06 09:00 AM
GDP Growth Rate QoQ
Q2 0.6% 0.7% 0.6%
2024-12-06 10:00 AM
GDP Growth Rate QoQ
Q3 0.2% 0.6% 0.9%
2025-03-07 11:00 AM
GDP Growth Rate QoQ
Q4 0.2% 0.8%


Related Last Previous Unit Reference
Full Year GDP Growth -1.10 1.40 percent Dec 2023
GDP Growth Rate YoY 1.20 -0.10 percent Sep 2024
GDP Constant Prices 16064.80 16115.20 EUR Million Sep 2024
GDP Growth Rate 0.20 0.60 percent Sep 2024
Gross Fixed Capital Formation 2588.10 2505.36 EUR Million Sep 2024

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).
Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.60 8.46 -6.90 1995 - 2024 percent Quarterly
SA


News Stream
Luxembourg GDP Growth Slows to 0.2% in Q3
Luxembourg’s economy grew 0.2% quarter-over-quarter in the third quarter of 2024, slowing from a 0.6% expansion in the previous period. Government spending (0.8% vs 1.4% in Q2) and gross fixed capital formation (0.5% vs 0.6%) rose at softer rates. Additionally, net external demand contributed negatively to the GDP, as exports dropped (-0.1% vs 1.3%) while imports increased (0.7% vs 0.6%). On the other hand, household consumption went up (1.7% vs 1.3%). On an annual basis, the GDP rose 1.2% in the September quarter, rebounding from a revised 0.1% contraction in the prior quarter.
2024-12-06
Luxembourg GDP Grows Slightly Lower in Q2
Luxembourg’s economy expanded 0.6% quarter-over-quarter in the three months leading to June of 2024, slightly down from an upwardly revised 0.7% growth in the previous period. Gross fixed capital formation (2.8% vs -1.2% in Q1 2024) and household consumption (1.2% vs -0.3%) both rebounded, alongside a recovery in imports (1% vs -1.3%) and exports (1.4% vs -0.5%). Additionally, government spending accelerated (1.7% vs 0.9%). On an annual basis, the GDP grew by 0.3% in the second quarter of 2024, following six consecutive quarters of contractions.
2024-09-06
Luxembourg GDP Growth Picks Up in Q1
Luxembourg’s economy expanded 0.5% quarter-over-quarter in the three months leading to March of 2024, accelerating from a flat reading in the previous period. Gross fixed capital formation fell at a more moderate rate (-0.6% vs -5.2% in Q4). At the same time, net foreign demand contributed positively to the GDP as imports (-1.4%) contracted more than exports (-0.7%). On the other hand, household consumption fell (-1% vs 0.6%), while government expenditure increased at a slower pace (0.1% vs 1.3%). On an annual basis, the GDP fell by 0.4% in the first quarter of 2024.
2024-06-07