Luxembourg - Economic Indicators
Economic Overview
This small, stable, high-income economy has historically featured solid growth, low inflation, and low unemployment. Luxembourg, the only Grand Duchy in the world, is a landlocked country in northwestern Europe surrounded by Belgium, France, and Germany. Despite its small landmass and small population, Luxembourg is the second-wealthiest country in the world when measured on a gross domestic product (PPP) per capita basis. Luxembourg has one of the highest current account surpluses as a share of GDP in the euro zone, and it maintains a healthy budgetary position, with a 2017...
| GDP | Reference | Last | Previous | Units | Frequency |
|---|---|---|---|---|---|
| Real Investment | 2022 Q1 | 2,916 | 3,107 | Mil. Ch. 2015 EUR, SA | Quarterly |
| Nominal Gross Domestic Product | 2022 Q1 | 19,888 | 19,316 | Mil. EUR, SA | Quarterly |
| Investment | 2022 Q1 | 3,504 | 3,575 | Mil. EUR, SA | Quarterly |
| Real Gross Domestic Product | 2022 Q1 | 16,345 | 16,144 | Mil. Ch. 2015 EUR, SA | Quarterly |
| Nominal Fixed Investment (gross fixed capital formation) | 2021 | 12,673 | 10,788 | Mil. EUR | Annual |
| Real Fixed Investment (gross fixed capital formation) | 2021 | 11,193 | 9,965 | Mil. Ch. 2015 EUR | Annual |
| Real Private Consumption | 2021 Q1 | 3,691 | 3,768 | Mil. Ch. 2010 EUR, SA | Quarterly |
| Price | Reference | Last | Previous | Units | Frequency |
| Producer Price Index (PPI) | Dec 2017 | 105.14 | 105.29 | Index 2010=100, NSA | Monthly |
| Labor | Reference | Last | Previous | Units | Frequency |
| Labor Force | May 2022 | 303,532 | 302,659 | #, NSA | Monthly |
| Unemployment Rate | May 2022 | 4.59 | 4.71 | %, NSA | Monthly |
| Labor Force Employment | May 2022 | 289,586 | 288,390 | #, NSA | Monthly |
| Total Employment | May 2022 | 289,586 | 288,390 | #, NSA | Monthly |
| Unemployment | May 2022 | 13,946 | 14,269 | #, NSA | Monthly |
| Wage & Salaries | 2020 | 31,777 | 31,400 | Mil. EUR | Annual |
| Agriculture Employment | 2017 | 2,936 | 2,893 | # | Annual |
| Trade | Reference | Last | Previous | Units | Frequency |
| Current Account Balance | 2022 Q1 | 439.5 | -1,344 | Mil. EUR, NSA | Quarterly |
| Exports of Goods | 2022 Q1 | 6,668 | 6,823 | Mil. EUR, NSA | Quarterly |
| Balance of Goods | 2022 Q1 | 432.1 | 10.9 | Mil. EUR, NSA | Quarterly |
| Imports of Goods | 2022 Q1 | 6,235 | 6,813 | Mil. EUR, NSA | Quarterly |
| Exports of Goods and Services | 2021 Q1 | 38,358 | 37,014 | Mil. EUR, SA | Quarterly |
| Real Imports of Goods and Services | 2021 Q1 | 22,958 | 22,518 | Mil. Ch. 2010 EUR, SA | Quarterly |
| Imports of Goods and Services | 2021 Q1 | 31,211 | 30,195 | Mil. EUR, SA | Quarterly |
| Real Exports of Goods and Services | 2021 Q1 | 27,583 | 27,251 | Mil. Ch. 2010 EUR, SA | Quarterly |
| Markets | Reference | Last | Previous | Units | Frequency |
| Average Long-term Government Bond | May 2022 | 1.66 | 1.39 | % p.a., NSA | Monthly |
| Stock Market Index | May 2022 | 1,691 | 1,710 | period averages; index levels in points, NSA | Monthly |
| Lending Rate | Apr 2022 | 1.26 | 1.24 | % p.a., NSA | Monthly |
| Real Estate | Reference | Last | Previous | Units | Frequency |
| House Price Index | 2021 Q4 | 190.45 | 192.48 | Index 2005Q1=100, NSA | Quarterly |
| Building Permits | Dec 2021 | 1,987 | 3,205 | #, SAAR | Monthly |
| Non-residential Building Permits | Dec 2021 | 155 | 353 | #, NSA | Monthly |
| Residential Building Permits | Dec 2021 | 31 | 47 | #, NSA | Monthly |
| House Price Index for New Homes | 2021 Q4 | 170.99 | 158.73 | Index 2015=100, NSA | Quarterly |
| House Price Index for Existing Homes | 2021 Q4 | 183.89 | 180.98 | Index 2015=100, NSA | Quarterly |
| Building Completions | 2019 | 253 | 277 | # | Annual |
| Consumer | Reference | Last | Previous | Units | Frequency |
| Consumer Confidence | May 2022 | -20.5 | -21.8 | SA | Monthly |
| Real Retail Sales | Mar 2022 | 32.62 | 29.59 | Vol. Index 2015=100, NSA | Monthly |
| Retail Sales | Mar 2022 | 39.49 | 34.78 | Index 2015=100, NSA | Monthly |
| Business | Reference | Last | Previous | Units | Frequency |
| Capacity Utilization | 2022 Q2 | 80.1 | 81.8 | %, SA | Quarterly |
| Business Confidence | May 2022 | -2.2 | 1.7 | SA | Monthly |
| Industrial Production | Mar 2022 | 104.64 | 94.3 | Vol. Index 2015=100, NSA | Monthly |
| Real Change in Inventories | 2021 | 458.3 | 613.3 | Mil. Ch. 2015 EUR | Annual |
| Change in Inventories | 2021 | 656.8 | 666.1 | Mil. EUR | Annual |
| Demographics | Reference | Last | Previous | Units | Frequency |
| Population | 2022 | 645.4 | 634.73 | Ths. # | Annual |
| Births | 2020 | 6.46 | 6.23 | Ths. #, NSA | Annual |
| Deaths | 2020 | 4.61 | 4.28 | Ths. #, NSA | Annual |
| Net Migration | 2017 | 25,001 | # | Annual | |
| Birth Rate | 2016 | 10.4 | 10.7 | # per Ths. pop. | Annual |
| Death Rate | 2016 | 6.8 | # per Ths. pop. | Annual |
Factbook
Background
Background:
Founded in 963, Luxembourg became a grand duchy in 1815 and an independent state under the Netherlands. It lost more than half of its territory to Belgium in 1839 but gained a larger measure of autonomy. In 1867, Luxembourg attained full independence under the condition that it promise perpetual neutrality. Overrun by Germany in both world wars, it ended its neutrality in 1948 when it entered into the Benelux Customs Union and when it joined NATO the following year. In 1957, Luxembourg became one of the six founding countries of the EEC (later the EU), and in 1999 it joined the euro currency zone.
Geography
Location:
Western Europe, between France and Germany
Geographic coordinates:
49 45 N, 6 10 E
Map references:
Europe
Area:
total: 2,586 sq km
land: 2,586 sq km
water: 0 sq km
country comparison to the world: 179
Area - comparative:
slightly smaller than Rhode Island; about half the size of Delaware
Land boundaries:
total: 327 km
border countries (3): Belgium 130 km, France 69 km, Germany 128 km
Coastline:
0 km (landlocked)
Maritime claims:
none (landlocked)
Climate:
modified continental with mild winters, cool summers
Terrain:
mostly gently rolling uplands with broad, shallow valleys; uplands to slightly mountainous in the north; steep slope down to Moselle flood plain in the southeast
Elevation:
mean elevation: 325 m
elevation extremes: lowest point: Moselle River 133 m
highest point: Buurgplaatz 559 m
Natural resources:
iron ore (no longer exploited), arable land
Land use:
agricultural land: 50.7%
arable land 24%; permanent crops 0.6%; permanent pasture 26.1%
forest: 33.5%
other: 15.8% (2011 est.)
Irrigated land:
0 sq km (2012)
Population - distribution:
most people live in the south, on or near the border with France
Natural hazards:
occasional flooding
Environment - current issues:
air and water pollution in urban areas, soil pollution of farmland; unsustainable patterns of consumption (transport, energy, recreation, space) threaten biodiversity and landscapes
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands
signed, but not ratified: Environmental Modification
Geography - note:
landlocked; the only grand duchy in the world
People & Society
Population:
594,130 (July 2017 est.)
country comparison to the world: 171
Nationality:
noun: Luxembourger(s)
adjective: Luxembourg
Ethnic groups:
Luxembourger 52.1%, Portuguese 16%, French 7.6%, Italian 3.6%, Belgian 3.4%, German 2.2%, Spanish 1.1%, British 1%, other 13%
note: data represent population by nationality (2018 est.)
Languages:
Luxembourgish (official administrative and judicial language and national language (spoken vernacular)) 55.8%, Portuguese 15.7%, French (official administrative, judicial, and legislative language) 12.1%, German (official administrative and judicial language) 3.1%, Italian 2.9%, English 2.1%, other 8.4% (2011 est.)
Religions:
Christian (predominantly Roman Catholic) 70.4%, Muslim 2.3%, other (includes Buddhist, folk religions, Hindu, Jewish) 0.5%, none 26.8% (2010 est.)
Age structure:
0-14 years: 16.77% (male 51,333/female 48,296)
15-24 years: 12.18% (male 37,047/female 35,310)
25-54 years: 44.27% (male 134,986/female 128,028)
55-64 years: 11.77% (male 35,450/female 34,457)
65 years and over: 15.02% (male 39,786/female 49,437) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 43.6
youth dependency ratio: 23.5
elderly dependency ratio: 20.1
potential support ratio: 5 (2015 est.)
Median age:
total: 39.3 years
male: 38.7 years
female: 39.9 years (2017 est.)
country comparison to the world: 54
Population growth rate:
1.98% (2017 est.)
country comparison to the world: 47
Birth rate:
11.5 births/1,000 population (2017 est.)
country comparison to the world: 170
Death rate:
7.3 deaths/1,000 population (2017 est.)
country comparison to the world: 123
Net migration rate:
15.5 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 2
Population distribution:
most people live in the south, on or near the border with France
Urbanization:
urban population: 90.7% of total population (2017)
rate of urbanization: 1.46% annual rate of change (2015-20 est.)
Major urban areas - population:
LUXEMBOURG (capital) 107,000 (2014)
Sex ratio:
at birth: 1.06 male(s)/female
0-14 years: 1.06 male(s)/female
15-24 years: 1.05 male(s)/female
25-54 years: 1.05 male(s)/female
55-64 years: 1.03 male(s)/female
65 years and over: 0.79 male(s)/female
total population: 1.01 male(s)/female (2017 est.)
Mother's mean age at first birth:
30.1 years (2015 est.)
Maternal mortality ratio:
10 deaths/100,000 live births (2015 est.)
country comparison to the world: 150
Infant mortality rate:
total: 3.4 deaths/1,000 live births
male: 3.8 deaths/1,000 live births
female: 3 deaths/1,000 live births (2017 est.)
country comparison to the world: 209
Life expectancy at birth:
total population: 82.3 years
male: 79.9 years
female: 84.9 years (2017 est.)
country comparison to the world: 13
Total fertility rate:
1.62 children born/woman (2017 est.)
country comparison to the world: 178
Health expenditures:
6.6% of GDP (2014)
country comparison to the world: 90
Physicians density:
2.92 physicians/1,000 population (2016)
Hospital bed density:
4.9 beds/1,000 population (2014)
Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
Sanitation facility access:
improved:
urban: 97.5% of population
rural: 98.5% of population
total: 97.6% of population
unimproved:
urban: 2.5% of population
rural: 1.5% of population
total: 2.4% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
NA
HIV/AIDS - people living with HIV/AIDS:
NA
HIV/AIDS - deaths:
<100 (2016 est.)
Obesity - adult prevalence rate:
22.6% (2016)
country comparison to the world: 74
Education expenditures:
4% of GDP (2014)
country comparison to the world: 118
School life expectancy (primary to tertiary education):
total: 14 years
male: 14 years
female: 14 years (2012)
Unemployment, youth ages 15-24:
total: 17.4%
male: 18.9%
female: 15.7% (2015 est.)
country comparison to the world: 75
Government
Country name:
conventional long form: Grand Duchy of Luxembourg
conventional short form: Luxembourg
local long form: Grand Duche de Luxembourg
local short form: Luxembourg
etymology: from the Celtic "lucilem" (little) and the German "burg" (castle or fortress) to produce the meaning of the "little castle"
Government type:
constitutional monarchy
Capital:
name: Luxembourg
geographic coordinates: 49 36 N, 6 07 E
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Administrative divisions:
12 cantons (cantons, singular - canton); Capellen, Clervaux, Diekirch, Echternach, Esch-sur-Alzette, Grevenmacher, Luxembourg, Mersch, Redange, Remich, Vianden, Wiltz
Independence:
1839 (from the Netherlands)
National holiday:
National Day (Birthday of Grand Duke HENRI), 23 June; note - this date of birth is not the true date of birth for any of the Royals, but the national festivities were shifted in 1962 to allow observance during a more favorable time of year
Constitution:
history: previous 1842 (heavily amended 1848, 1856); latest effective 17 October 1868
amendments: proposed by the Chamber of Deputies or by the monarch to the Chamber; passage requires at least two-thirds majority vote by the Chamber in two successive readings three months apart; a referendum can be substituted for the second reading if approved by more than one-quarter of the Chamber members or by 25,000 valid voters; adoption by referendum requires a majority of all valid voters; amended many times, last in 2009 (2016)
Legal system:
civil law system
International law organization participation:
accepts compulsory ICJ jurisdiction; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: limited to situations where the parents are either unknown, stateless, or when the nationality law of the parents' state of origin does not permit acquisition of citizenship by descent when the birth occurs outside of national territory
citizenship by descent: at least one parent must be a citizen of Luxembourg
dual citizenship recognized: yes
residency requirement for naturalization: 7 years
Suffrage:
18 years of age; universal and compulsory
Executive branch:
chief of state: Grand Duke HENRI (since 7 October 2000); Heir Apparent Prince GUILLAUME, son of the monarch, born 11 November 1981
head of government: Prime Minister Xavier BETTEL (since 4 December 2013); Deputy Prime Minister Etienne SCHNEIDER (since 4 December 2013)
cabinet: Council of Ministers recommended by the prime minister, appointed by the monarch
elections/appointments: the monarchy is hereditary; following elections to the Chamber of Deputies, the leader of the majority party or majority coalition usually appointed prime minister by the monarch; deputy prime minister appointed by the monarch; prime minister and deputy prime minister are responsible to the Chamber of Deputies
Legislative branch:
description: unicameral Chamber of Deputies or Chambre des Deputes (60 seats; members directly elected in multi-seat constituencies by proportional representation vote; members serve 5-year terms); note - a 21-member Council of State appointed by the Grand Duke on the advice of the prime minister serves as an advisory body to the Chamber of Deputies
elections: last held on 20 October 2013 (next to be held by October 2018)
election results: percent of vote by party - CSV 33.7%, LSAP 20.3%, DP 18.3%, Green Party 10.1%, ADR 6.6%, The Left 4.9%, other 6.1%; seats by party - CSV 23, LSAP 13, DP 13, Green Party 6, ADR 3, The Left 2
Judicial branch:
highest court(s): Supreme Court of Justice includes Court of Appeal and Court of Cassation (consists of 27 judges on 9 benches); Constitutional Court (consists of 9 members)
judge selection and term of office: judges of both courts appointed by the monarch for life
subordinate courts: Court of Accounts; district and local tribunals and courts
Political parties and leaders:
Alternative Democratic Reform Party or ADR [Jean SCHOOS]
Christian Social People's Party or CSV [Marc SPAUTZ]
Democratic Party or DP [Corinne CAHEN]
Green Party [Francoise FOLMER and Christian KMIOTEK]
Luxembourg Socialist Workers' Party or LSAP [Claude HAAGEN]
The Left (dei Lenk/la Gauche) [collective leadership, Central Committee]
other minor parties
Political pressure groups and leaders:
Business Federation Luxembourg or FEDIL [Nicolas BUCK]
Centrale Paysanne [Marc FISCH] (federation of agricultural producers)
Chamber of Artisans (Chambre des Metiers) [Tom OBERWEIS]
Chamber of Commerce (Chambre de Commerce) [Carlo THELEN]
Chambre des Salaries or CSL [Jean-Claude REDING]
General Association of Officials (Confederation Generale de la Fonction Publique or CGFP) [Romain WOLFF] (trade union representing civil service)
Greenpeace [Raymond AENDEKERK]
Luxembourg Confederation of Christian Trade Unions or LCGB [Patrick DURY] (center-right trade union)
Luxembourg Association of Bankers and Insurance Employees or ALEBA [Roberto SCOLATI]
Luxembourg Bankers Association or ABBL [Guy HOFFMANN]
Mouvement Ecologique [Blanche WEBER] (environmental protection)
Confederation of Independent Trade Unions or OGB-L [Andre ROELTGEN] (center-left trade union)
International organization participation:
ADB (nonregional member), Australia Group, Benelux, BIS, CD, CE, EAPC, EBRD, ECB, EIB, EMU, ESA, EU, FAO, FATF, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NATO, NEA, NSG, OAS (observer), OECD, OIF, OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNRWA, UPU, WCO, WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in the US:
chief of mission: Ambassador Sylvie LUCAS (since 16 September 2016)
chancery: 2200 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 265-4171
FAX: [1] (202) 328-8270
consulate(s) general: New York, San Francisco
Diplomatic representation from the US:
US chief of mission: Ambassador (vacant); Charge d'Affaires Kerri HANNAN (since late June 2017)
embassy: 22 Boulevard Emmanuel Servais, L-2535 Luxembourg City
mailing address: Unit 3560, APO-AE 09126-3560 (official mail)
telephone: [352] 46-01-23 00
FAX: [352] 46-14-01
Flag description:
three equal horizontal bands of red (top), white, and light blue; similar to the flag of the Netherlands, which uses a darker blue and is shorter; the coloring is derived from the Grand Duke's coat of arms (a red lion on a white and blue striped field)
National symbol(s):
red, rampant lion; national colors: red, white, light blue
National anthem:
name: "Ons Heemecht" (Our Motherland); "De Wilhelmus" (The William)
lyrics/music: Michel LENTZ/Jean-Antoine ZINNEN; Nikolaus WELTER/unknown
note: "Ons Heemecht," adopted 1864, is the national anthem, while "De Wilhelmus," adopted 1919, serves as a royal anthem for use when members of the grand ducal family enter or exit a ceremony in Luxembourg
Economy
Economy - overview:
This small, stable, high-income economy has historically featured solid growth, low inflation, and low unemployment. Luxembourg, the only Grand Duchy in the world, is a landlocked country in northwestern Europe surrounded by Belgium, France, and Germany. Despite its small landmass and small population, Luxembourg is the second-wealthiest country in the world when measured on a gross domestic product (PPP) per capita basis. Luxembourg has one of the highest current account surpluses as a share of GDP in the euro zone, and it maintains a healthy budgetary position, with a 2017 surplus of 0.5% of GDP, and the lowest public debt level in the region.
Since 2002, Luxembourg’s government has proactively implemented policies and programs to support economic diversification and to attract foreign direct investment. The government focused on key innovative industries that showed promise for supporting economic growth: logistics, information and communications technology (ICT); health technologies, including biotechnology and biomedical research; clean energy technologies, and more recently, space technology and financial services technologies. The economy has evolved and flourished, posting strong GDP growth of 3.4% in 2017, far outpacing the European average of 1.8%.
Luxembourg remains a financial powerhouse – the financial sector accounts for more than 35% of GDP - because of the exponential growth of the investment fund sector through the launch and development of cross-border funds (UCITS) in the 1990s. Luxembourg is the world’s second-largest investment fund asset domicile, after the US, with $4 trillion of assets in custody in financial institutions.
Luxembourg has lost some of its advantage as a favorable tax location because of OECD and EU pressure, as well as the “LuxLeaks” scandal, which revealed advantageous tax treatments offered to foreign corporations. In 2015, the government’s compliance with EU requirements to implement automatic exchange of tax information on savings accounts - thus ending banking secrecy - has constricted banking activity. Likewise, changes to the way EU members collect taxes from e-commerce has cut Luxembourg’s sales tax revenues, requiring the government to raise additional levies and to reduce some direct social benefits as part of the tax reform package of 2017. The tax reform package also included reductions in the corporate tax rate and increases in deductions for families, both intended to increase purchasing power and increase competitiveness.
GDP (purchasing power parity):
$64.39 billion (2017 est.)
$61.99 billion (2016 est.)
$59.5 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 105
GDP (official exchange rate):
$63.52 billion (2017 est.)
GDP - real growth rate:
3.9% (2017 est.)
4.2% (2016 est.)
4% (2015 est.)
country comparison to the world: 74
GDP - per capita (PPP):
$109,100 (2017 est.)
$107,600 (2016 est.)
$105,700 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 5
Gross national saving:
23.2% of GDP (2017 est.)
22.8% of GDP (2016 est.)
24% of GDP (2015 est.)
country comparison to the world: 62
GDP - composition, by end use:
household consumption: 28.2%
government consumption: 15.9%
investment in fixed capital: 16.8%
investment in inventories: 0.9%
exports of goods and services: 230.8%
imports of goods and services: -192.8% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 0.2%
industry: 11.9%
services: 87.9% (2017 est.)
Agriculture - products:
grapes, barley, oats, potatoes, wheat, fruits; dairy and livestock products
Industries:
banking and financial services, construction, real estate services, iron, metals, and steel, information technology, telecommunications, cargo transportation and logistics, chemicals, engineering, tires, glass, aluminum, tourism, biotechnology
Industrial production growth rate:
0.1% (2017 est.)
country comparison to the world: 186
Labor force:
282,800
note: data exclude foreign workers; in addition to the figure for domestic labor force, about 150,000 workers commute daily from France, Belgium, and Germany (2017 est.)
country comparison to the world: 166
Labor force - by occupation:
agriculture: 1.1%
industry: 20%
services: 78.9% (2013 est.)
Unemployment rate:
5.9% (2017 est.)
6.4% (2016 est.)
country comparison to the world: 81
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: 3.5%
highest 10%: 23.8% (2000 est.)
Distribution of family income - Gini index:
30.4 (2013 est.)
26 (2005 est.)
country comparison to the world: 130
Budget:
revenues: $27.6 billion
expenditures: $27.38 billion (2017 est.)
Taxes and other revenues:
43.5% of GDP (2017 est.)
country comparison to the world: 27
Budget surplus (+) or deficit (-):
0.4% of GDP (2017 est.)
country comparison to the world: 26
Public debt:
19.3% of GDP (2017 est.)
20% of GDP (2016 est.)
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
country comparison to the world: 189
Fiscal year:
calendar year
Inflation rate (consumer prices):
1.2% (2017 est.)
0% (2016 est.)
country comparison to the world: 53
Central bank discount rate:
0.25% (31 December 2017 est.)
0.3% (31 December 2010 est.)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
country comparison to the world: 144
Stock of narrow money:
$281 billion (31 December 2017 est.)
$229.2 billion (31 December 2016 est.)
note: see entry for the EU for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
country comparison to the world: 18
Stock of broad money:
$312.7 billion (31 December 2017 est.)
$271.4 billion (31 December 2016 est.)
country comparison to the world: 34
Stock of domestic credit:
$127.7 billion (31 December 2017 est.)
$109.9 billion (31 December 2016 est.)
country comparison to the world: 53
Market value of publicly traded shares:
$47.13 billion (31 December 2015 est.)
$63.17 billion (31 December 2014 est.)
$78.64 billion (31 December 2013 est.)
country comparison to the world: 53
Current account balance:
$2.967 billion (2017 est.)
$2.823 billion (2016 est.)
country comparison to the world: 30
Exports:
$18.4 billion (2017 est.)
$16.37 billion (2016 est.)
country comparison to the world: 72
Exports - commodities:
machinery and equipment, steel products, chemicals, rubber products, glass
Exports - partners:
Germany 23.1%, Belgium 16.6%, France 15.4%, Netherlands 5.1% (2016)
Imports:
$22.4 billion (2017 est.)
$19.97 billion (2016 est.)
country comparison to the world: 70
Imports - commodities:
commercial aircraft, minerals, chemicals, metals, foodstuffs, luxury consumer goods
Imports - partners:
Belgium 29.4%, Germany 24.3%, France 10.3%, US 7%, China 5.8%, Netherlands 4.3%, Mexico 4.3% (2016)
Reserves of foreign exchange and gold:
$1 billion (31 December 2017 est.)
$974 million (31 December 2016 est.)
country comparison to the world: 124
Debt - external:
$3.781 trillion (31 March 2016 est.)
$3.806 trillion (31 March 2015 est.)
country comparison to the world: 7
Stock of direct foreign investment - at home:
$11.21 billion (31 December 2008 est.)
country comparison to the world: 95
Stock of direct foreign investment - abroad:
$NA
Exchange rates:
euros (EUR) per US dollar -
0.89 (2017 est.)
0.9 (2016 est.)
0.92 (2015 est.)
0.89 (2014 est.)
0.76 (2013 est.)
Energy
Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
735 million kWh (2015 est.)
country comparison to the world: 158
Electricity - consumption:
6.178 billion kWh (2015 est.)
country comparison to the world: 114
Electricity - exports:
1.42 billion kWh (2016 est.)
country comparison to the world: 51
Electricity - imports:
7.718 billion kWh (2016 est.)
country comparison to the world: 32
Electricity - installed generating capacity:
2.023 million kW (2015 est.)
country comparison to the world: 113
Electricity - from fossil fuels:
23.7% of total installed capacity (2015 est.)
country comparison to the world: 192
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 131
Electricity - from hydroelectric plants:
1.7% of total installed capacity (2015 est.)
country comparison to the world: 140
Electricity - from other renewable sources:
12.7% of total installed capacity (2015 est.)
country comparison to the world: 60
Crude oil - production:
0 bbl/day (2016 est.)
country comparison to the world: 162
Crude oil - exports:
0 bbl/day (2016 est.)
country comparison to the world: 155
Crude oil - imports:
0 bbl/day (2016 est.)
country comparison to the world: 151
Crude oil - proved reserves:
0 bbl (1 January 2017 est.)
country comparison to the world: 159
Refined petroleum products - production:
0 bbl/day (2016 est.)
country comparison to the world: 166
Refined petroleum products - consumption:
56,120 bbl/day (2016 est.)
country comparison to the world: 99
Refined petroleum products - exports:
0 bbl/day (2016 est.)
country comparison to the world: 173
Refined petroleum products - imports:
55,900 bbl/day (2016 est.)
country comparison to the world: 77
Natural gas - production:
6 million cu m (2015 est.)
country comparison to the world: 98
Natural gas - consumption:
1.108 billion cu m (2015 est.)
country comparison to the world: 96
Natural gas - exports:
0 cu m (2014 est.)
country comparison to the world: 140
Natural gas - imports:
875 million cu m (2015 est.)
country comparison to the world: 61
Natural gas - proved reserves:
0 cu m (1 January 2014 est.)
country comparison to the world: 164
Carbon dioxide emissions from consumption of energy:
11 million Mt (2013 est.)
country comparison to the world: 101
Communications
Telephones - fixed lines:
total subscriptions: 276,400
subscriptions per 100 inhabitants: 48 (July 2016 est.)
country comparison to the world: 119
Telephones - mobile cellular:
total: 764,000
subscriptions per 100 inhabitants: 129 (July 2016 est.)
country comparison to the world: 164
Telephone system:
general assessment: highly developed, completely automated and efficient system, mainly buried cables
domestic: fixed-line teledensity about 50 per 100 persons; nationwide mobile-cellular telephone system with market for mobile-cellular phones virtually saturated
international: country code - 352 (2016)
Broadcast media:
Luxembourg has a long tradition of operating radio and TV services for pan-European audiences and is home to Europe's largest privately owned broadcast media group, the RTL Group, which operates 46 TV stations and 29 radio stations in Europe; also home to Europe's largest satellite operator, Societe Europeenne des Satellites (SES); domestically, the RTL Group operates TV and radio networks; other domestic private radio and TV operators and French and German stations available; satellite and cable TV services available (2016)
Internet country code:
.lu
Internet users:
total: 567,698
percent of population: 97.5% (July 2016 est.)
country comparison to the world: 149
Transportation
National air transport system:
number of registered air carriers: 3
inventory of registered aircraft operated by air carriers: 119
annual passenger traffic on registered air carriers: 1,830,972
annual freight traffic on registered air carriers: 6,309,473,324 mt-km (2015)
Civil aircraft registration country code prefix:
LX (2016)
Airports:
2 (2013)
country comparison to the world: 202
Airports - with paved runways:
total: 1
over 3,047 m: 1 (2017)
Airports - with unpaved runways:
total: 1
under 914 m: 1 (2013)
Heliports:
1 (2013)
Pipelines:
gas 142 km; refined products 27 km (2013)
Railways:
total: 275 km
standard gauge: 275 km 1.435-m gauge (275 km electrified) (2014)
country comparison to the world: 125
Roadways:
total: 2,899 km
paved: 2,899 km (includes 152 km of expressways) (2011)
country comparison to the world: 167
Waterways:
37 km (on Moselle River) (2010)
country comparison to the world: 104
Merchant marine:
total: 152
by type: bulk carrier 3, container ship 21, general cargo 2, other 126 (2017)
country comparison to the world: 74
Ports and terminals:
river port(s): Mertert (Moselle)
Military & Security
Military expenditures:
0.54% of GDP (2017)
0.49% of GDP (2016)
0.48% of GDP (2015)
0.42% of GDP (2014)
0.42% of GDP (2013)
country comparison to the world: 144
Military branches:
Luxembourg Army (Armee Luxembourgeoise) (2018)
Military service age and obligation:
18-24 years of age for male and female voluntary military service; no conscription; Luxembourg citizen or EU citizen with 3-year residence in Luxembourg (2017)
Transnational Issues
Disputes - international:
none
Refugees and internally displaced persons:
stateless persons: 83 (2016)
