Luxembourg | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Luxembourg including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Luxembourg economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.30 1.1 1.1 0.9 0.7 0.6 percent [+]
Unemployment Rate 6.00 6.1 6.1 6 5.9 5.2 percent [+]
Inflation Rate 1.80 2 2.2 2.5 2.4 2.4 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -0.63 -0.49 -0.48 -0.48 -0.48 -0.48 EUR Billion [+]
Government Debt to GDP 20.00 20.49 20.13 19.77 19.62 18.77 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 1.09 1.06 1.05 1.04 1.03 0.86 [+]
Stock Market 1746.00 1780 1760 1710 1720 1440 points [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.30 1.1 1.1 0.9 0.7 0.6 percent [+]
GDP Annual Growth Rate 3.60 3.8 3.7 3.6 3.4 2.7 percent [+]
GDP 56.80 63.1 58.57 66.33 58.76 75.88 USD Billion [+]
GDP Constant Prices 12928.60 12927 12405 12925 12407 12913 EUR Million [+]
Gross Fixed Capital Formation 2218.30 2232 2240 2227 2228 2230 EUR Million [+]
GDP per capita 107035.96 107007 107191 107374 107706 110059 USD [+]
GDP per capita PPP 93899.66 93915 94399 94883 95089 96815 USD [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 6.00 6.1 6.1 6 5.9 5.2 percent [+]
Employed Persons 427779.00 428433 431155 433659 435983 462622 [+]
Unemployed Persons 16475.00 15443 16244 16672 16293 16293 [+]
Long Term Unemployment Rate 2.60 2.41 2.4 2.35 2.41 2.39 percent [+]
Youth Unemployment Rate 18.80 18.82 18.78 18.77 18.77 18.76 percent [+]
Labour Costs 118.95 111 113 113 112 112 Index Points [+]
Job Vacancies 4130.00 3908 3998 3908 3998 3908 Thousand [+]
Wages 4212.00 4262 4287 4312 4336 5029 EUR/Month [+]
Minimum Wages 1998.59 2001 1999 2003 2027 2103 EUR/Month [+]
Population 0.58 2.21 2.21 2.22 2.22 7.07 Million [+]
Retirement Age Women 65.00 65 65 65 65 65 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change 0.90 0.83 0.8 0.81 0.8 0.79 percent [+]
Employment Rate 66.50 66.16 65.89 66.16 65.95 66.06 percent [+]
Full Time Employment 211.00 212 212 214 215 224 Thousand [+]
Labor Force Participation Rate 59.50 59.35 59.36 59.33 59.33 59.34 percent [+]
Productivity 109.60 106 103 109 106 108 Index Points [+]
Wages In Manufacturing 103.10 112 104 108 106 106 Index Points [+]
Part Time Employment 50.90 51.04 52.61 52.77 52.08 57.57 Thousand [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 1.80 2 2.2 2.5 2.4 2.4 percent [+]
Harmonised Consumer Prices 101.98 102 102 102 102 102 Index Points [+]
Consumer Price Index CPI 101.78 102 102 102 102 102 Index Points [+]
Core Consumer Prices 102.19 103 102 102 102 102 Index Points [+]
Core Inflation Rate 1.20 1.13 1.13 1.13 1.13 1.13 percent [+]
GDP Deflator 113.11 111 112 112 112 112 Index Points [+]
Producer Prices 102.77 105 107 109 111 122 Index Points [+]
Cpi Transportation 100.65 101 101 101 101 101 Index Points [+]
Food Inflation 3.40 4.1 4.27 4.37 4.4 4.43 percent [+]
Inflation Rate Mom 0.01 0.79 0.13 0.8 0.12 0.68 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Money Supply M0 3.00 3 3 3 3 3 EUR Billion [+]
Money Supply M1 222.10 229 232 236 240 280 EUR Billion [+]
Money Supply M2 262.50 263 263 263 263 263 EUR Billion [+]
Money Supply M3 329.20 327 328 328 328 328 EUR Billion [+]
Foreign Exchange Reserves 876.90 885 885 884 885 885 EUR Million [+]
Banks Balance Sheet 1083016.00 1101634 1110290 1116875 1121882 1136997 EUR Million [+]
Loans to Private Sector 21638.00 21572 21571 21572 21572 21572 EUR Million [+]
Central Bank Balance Sheet 188658.00 192528 191863 191655 191593 191568 EUR Million [+]
Private Debt To Gdp 494.45 518 514 509 509 575 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -0.63 -0.49 -0.48 -0.48 -0.48 -0.48 EUR Billion [+]
Exports 0.99 1.04 1.04 1.04 1.04 1.04 EUR Billion [+]
Imports 1.62 1.53 1.52 1.52 1.52 1.52 EUR Billion [+]
Current Account 1522.60 545 662 770 598 654 EUR Million [+]
Current Account to GDP 4.80 5.3 5.32 5.19 5.24 2.5 percent [+]
External Debt 3647945.81 415126 -56767 -163073 -134962 84438 EUR Million [+]
Capital Flows 967.32 235 337 356 292 311 EUR Million [+]
Remittances 16.00 18.4 18.86 18.29 18 18.32 EUR Million [+]
Gold Reserves 2.24 2.23 2.23 2.23 2.23 2.23 Tonnes [+]
Foreign Direct Investment 13368.70 58543 36197 34506 37568 42350 EUR Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 20.00 20.49 20.13 19.77 19.62 18.77 percent [+]
Government Budget 1.60 0.8 1.21 0.6 1.14 1.3 percent of GDP [+]
Government Budget Value 647.80 436 327 219 197 456 EUR Million [+]
Government Spending 2001.60 2025 2038 2049 2060 2185 EUR Million [+]
Government Spending to GDP 41.20 41.74 41.75 41.75 41.89 42.41 percent [+]
Government Revenues 22295.30 22807 22980 23152 23365 26545 EUR Million [+]
Fiscal Expenditure 21647.50 21944 22108 22271 22438 24745 EUR Million [+]
Asylum Applications 230.00 251 233 247 236 241 persons [+]
Military Expenditure 361.80 310 327 343 340 337 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 113.60 114 115 115 115 115 [+]
Industrial Production -4.69 -0.01 0.08 0.13 0.15 0.17 percent [+]
Manufacturing Production -11.70 -8.59 -8.99 -9.06 -9.07 -9.07 percent [+]
Capacity Utilization 82.10 81.86 82.09 81.36 81.42 81.54 percent [+]
New Orders 83.40 89.77 92.28 89.89 92.17 90.4 Index Points [+]
Changes in Inventories 0.97 0.58 0.65 0.72 0.76 0.77 EUR Billion [+]
Bankruptcies 0.75 -73.76 -191 -308 -350 -644 Companies [+]
Car Registrations 4042.00 4075 4008 4027 4045 4037 Cars [+]
Competitiveness Index 5.20 5.2 5.2 5.2 5.19 5.19 Points [+]
Competitiveness Rank 20.00 20 20 20 20 18 [+]
Ease of Doing Business 59.00 58 58 59 58 58 [+]
Electricity Production 41.00 60.2 55.87 55.83 56.67 56.45 Gigawatt-hour [+]
Corruption Index 81.00 81 82 83 82 82 Points [+]
Corruption Rank 10.00 10 10 10 9 9 [+]
Steel Production 200.00 169 183 165 184 166 Thousand Tonnes [+]
Mining Production -39.90 -6.98 -4.8 -4.06 -3.85 -3.75 percent [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 14.80 13.15 13.73 13.8 13.83 13.8 [+]
Retail Sales Mom 1.70 1.1 0.77 3 0.85 2.4 percent [+]
Retail Sales Yoy -1.70 0.45 0.33 0.29 0.28 0.28 percent [+]
Consumer Spending 3557.10 3582 3586 3603 3616 3770 EUR Million [+]
Personal Savings 17.39 19.18 19.55 19.92 19.53 18.98 percent [+]
Consumer Credit 1579.00 1578 1578 1578 1578 1578 EUR Million [+]
Bank Lending Rate 1.79 1.8 1.81 1.81 1.81 1.81 percent [+]
Gasoline Prices 1.23 1.18 1.18 1.19 1.19 1.19 USD/Liter [+]
Households Debt To Gdp 59.70 60.86 61.21 61.61 61.98 66.13 percent of GDP [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output -19.40 -0.15 0.27 0.61 0.72 0.78 percent [+]
Housing Index 135.76 139 141 142 144 162 Index points [+]
Building Permits 646.00 404 404 404 404 404 [+]
Home Ownership Rate 73.20 71.66 71.41 71.15 70.55 72.14 percent [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 29.22 29.27 29.31 29.34 29.34 29.38 percent [+]
Personal Income Tax Rate 43.60 44.04 44.2 44.35 44.22 44.06 percent [+]
Sales Tax Rate 17.00 17 17 17 17 17 percent [+]
Social Security Rate 25.62 25.5 25.56 25.62 25.58 26.05 percent [+]
Social Security Rate For Companies 12.67 12.76 12.75 12.73 12.7 12.8 percent [+]
Social Security Rate For Employees 12.95 12.8 12.84 12.88 12.87 13.1 percent [+]