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Luxembourg economy ranking: GDP & GDP per capita, debt

Updated on by Georank

Luxembourg ranked 75/197 by economy size with a GDP of $101B and 3/197 by GDP per capita at $147,252. Luxembourg has $27.3B in government debt, with a debt-to-GDP ratio of 27%.

In 2025, Luxembourg made up 0.09% of the world's economy, compared to 0.05% in 1960.

Luxembourg GDP & GDP growth by year

GDP, current $
Real growth
1x
Year GDP GDP growth
2025 $101,157,829,491 0.64%
2024 $93,279,851,863 0.36%
2023 $88,788,881,539 0.1%
2022 $80,801,680,397 -1.1%
2021 $86,386,759,695 6.93%
2020 $73,670,782,100 -0.51%
2019 $69,872,035,114 2.75%
2018 $71,085,623,495 1.61%
2017 $65,712,180,343 1.32%
2016 $62,216,885,436 4.98%
2015 $60,071,584,216 2.27%
2014 $68,804,814,555 2.62%
2013 $65,203,276,467 3.17%
2012 $59,776,383,527 1.65%
2011 $61,696,281,326 1.04%
2010 $56,213,985,987 3.76%
2009 $54,467,289,898 -3.24%
2008 $58,844,277,702 -0.3%
2007 $51,587,401,416 8.1%
2006 $42,910,153,830 6.02%
2005 $37,672,311,223 2.48%
2004 $35,064,843,793 4.23%
2003 $29,667,268,248 2.62%
2002 $23,649,832,387 3.23%
2001 $21,387,550,720 3.07%
2000 $21,230,200,538 6.94%
1999 $21,899,317,599 8.18%
1998 $20,150,055,568 6.67%
1997 $19,563,836,265 5.42%
1996 $20,895,314,658 1.4%
1995 $20,853,093,870 1.43%
1994 $17,701,798,891 3.82%
1993 $15,925,521,222 4.2%
1992 $15,518,702,635 1.82%
1991 $13,834,219,728 8.64%
1990 $12,778,792,854 5.32%
1989 $10,037,674,038 9.8%
1988 $9,418,167,855 8.46%
1987 $8,320,902,215 3.95%
1986 $6,685,595,088 9.98%
1985 $4,577,211,767 2.79%
1984 $4,438,435,493 6.19%
1983 $4,524,217,751 2.99%
1982 $4,602,316,793 1.13%
1981 $5,053,665,797 -0.55%
1980 $6,019,805,490 0.84%
1979 $5,516,982,664 2.35%
1978 $4,718,539,772 4.07%
1977 $3,789,321,328 1.57%
1976 $3,423,586,207 2.53%
1975 $3,123,333,333 -6.57%
1974 $3,183,637,117 4.21%
1973 $2,609,875,802 8.31%
1972 $1,901,697,370 6.6%
1971 $1,518,773,421 2.67%
1970 $1,457,768,455 1.76%
1969 $1,245,432,991 9.97%
1968 $1,075,561,623 4.18%
1967 $983,052,315 0.22%
1966 $976,717,015 1.11%
1965 $929,477,285 -0.73%
1964 $910,877,686 7.87%
1963 $797,902,154 3.44%
1962 $747,846,862 1.36%
1961 $710,163,719 3.83%
1960 $709,941,874 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/luxembourg | CC BY

Luxembourg GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2025 $147,252 -
2024 $137,782 $155,941
2023 $133,231 $150,508
2022 $123,720 $146,919
2021 $134,966 $136,772
2020 $116,860 $122,067
2019 $112,697 $121,372
2018 $116,927 $116,638
2017 $110,193 $114,986
2016 $106,899 $113,365
2015 $105,462 $107,860
2014 $123,679 $105,296
2013 $120,000 $100,925
2012 $112,585 $96,636
2011 $119,025 $94,475
2010 $110,886 $90,336
2009 $109,420 $86,919
2008 $120,422 $90,971
2007 $107,475 $85,126
2006 $90,789 $78,861
2005 $80,988 $68,788
2004 $76,545 $64,686
2003 $65,689 $60,192
2002 $53,006 $58,576
2001 $48,440 $56,136
2000 $48,660 $55,136
1999 $50,872 $49,845
1998 $47,445 $44,270
1997 $46,642 $42,488
1996 $50,444 $39,722
1995 $51,032 $38,345
1994 $43,933 $37,551
1993 $40,067 $35,899
1992 $39,571 $34,108
1991 $35,747 $33,191
1990 $33,465 $29,949
1989 $26,618 -
1988 $25,219 -
1987 $22,443 -
1986 $18,150 -
1985 $12,482 -
1984 $12,127 -
1983 $12,374 -
1982 $12,591 -
1981 $13,837 -
1980 $16,531 -
1979 $15,204 -
1978 $13,034 -
1977 $10,486 -
1976 $9,491 -
1975 $8,701 -
1974 $8,967 -
1973 $7,447 -
1972 $5,487 -
1971 $4,435 -
1970 $4,298 -
1969 $3,690 -
1968 $3,203 -
1967 $2,935 -
1966 $2,925 -
1965 $2,804 -
1964 $2,779 -
1963 $2,462 -
1962 $2,332 -
1961 $2,241 -
1960 $2,261 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/luxembourg | CC BY

Luxembourg has a GDP per capita of $147,252, ranking 3/197, a GDP per capita based on purchasing power parity (PPP) of $155,941, ranking 1/197, and a median annual after tax income of $71,808, ranking 5/197.

Luxembourg GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2025 72 1 -
2024 73 3 1
2023 71 3 1
2022 71 3 1
2021 68 3 1
2020 70 3 1
2019 73 3 1
2018 72 3 1
2017 74 3 1
2016 72 3 1
2015 72 3 2
2014 70 3 2
2013 71 3 2
2012 73 3 2
2011 72 3 2
2010 72 3 2
2009 68 3 3
2008 69 3 4
2007 67 3 5
2006 68 3 5
2005 67 3 5
2004 64 3 5
2003 63 3 6
2002 65 3 5
2001 67 3 6
2000 66 3 5
1999 66 3 6
1998 70 3 7
1997 70 3 7
1996 66 3 7
1995 62 3 7
1994 62 3 7
1993 64 3 7
1992 63 4 6
1991 65 4 5
1990 70 4 6
1989 66 4 -
1988 68 6 -
1987 67 6 -
1986 71 8 -
1985 81 13 -
1984 82 14 -
1983 82 12 -
1982 82 14 -
1981 79 13 -
1980 74 10 -
1979 70 9 -
1978 68 8 -
1977 70 10 -
1976 70 10 -
1975 70 10 -
1974 66 8 -
1973 67 4 -
1972 69 6 -
1971 73 8 -
1970 69 4 -
1969 68 6 -
1968 72 6 -
1967 71 7 -
1966 69 7 -
1965 67 6 -
1964 66 5 -
1963 67 6 -
1962 66 6 -
1961 64 5 -
1960 61 4 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/luxembourg | CC BY

Compared with 2000, in 2025 Luxembourg is ranked 72nd out of 179 by GDP (down from 66th), 1st by GDP per capita (up from 3rd), and 1st by GDP per capita PPP (up from 5th).

Economic indicators

Luxembourg Rank
Gross domestic product
$101B
2025
75/197
GDP growth
0.64%
2024-2025
170/194
GDP per capita
$147,252
2025
3/197
GDP per capita, PPP
$155,941
2024
1/197
Government debt
$27.3B
2025
92/185
Debt-to-GDP ratio
27%
2025
165/185
Government debt per person
$39,717
2025
18/185
Average annual personal income after taxes
$71,808
2026
5/197
Listed domestic companies
28
2025
83/103
Market capitalization of domestic companies
$69.4B
2025
49/100
Number of millionaires
85,000
2026
34/40
Millionaire frequency
1 in 6
2026
1/40
Number of billionaires
1
2026
70/74
Billionaire frequency
1 in 542,641
2026
21/74
Income share by richest 10%
25%
2023
114/169
Income share by poorest 10%
2.8%
2023
86/169
Government expenditure, % of GDP
48.3%
2025
26/195
Consumer prices inflation
2.26%
2024-2025
123/195
Unemployment rate
6.5%
2025
72/196
Population
697802
164/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2025 48.3% 27% -0.96%
2024 46.8% 26.3% 0.89%
2023 46.4% 24.7% -0.65%
2022 44.3% 24.9% 0.21%
2021 42.4% 24.2% 1.11%
2020 47% 24.5% -3.09%
2019 43.1% 22.3% 2.68%
2018 42.3% 20.9% 3.17%
2017 41.3% 21.8% 1.37%
2016 40% 19.6% 1.89%
2015 40.4% 21.1% 1.3%
2014 40.6% 21.9% 1.33%
2013 41.2% 22.4% 0.84%
2012 41.8% 20.8% 0.5%
2011 41.5% 18.5% 0.65%
2010 42% 19.1% -0.26%
2009 42.7% 15.3% -0.21%
2008 37.9% 14.6% 3.37%
2007 37.4% 8.09% 4.35%
2006 39.4% 8.21% 1.9%
2005 43.4% 7.95% -0.21%
2004 43.7% 7.83% -1.39%
2003 43.3% 7.43% 0.28%
2002 41.8% 7.45% 2.03%
2001 38.1% 7.62% 5.62%
2000 38% 7.49% 5.55%
1999 41.7% 8.39% 3.24%
1998 43.9% 9.51% 2.98%
1997 44.2% 10.1% 2.65%
1996 42.5% 10.2% 2.37%
1995 42% 10.3% 2.71%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08).

GeoRank.org/economy/luxembourg | CC BY

This chart shows Luxembourg's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 31 years, Luxembourg recorded a fiscal deficit in 7 of them, with an average annual surplus equal to 1.49% of GDP. In 2025, government spending reached $48.8B (48.3% of GDP), with a deficit of 0.96%.

The national debt reached $27.3B, ranking 92nd out of 185 countries by total size, with a debt-to-GDP ratio of 27%, ranking 165th.

Inflation rate by year

1x
Year Inflation
2025 2.26%
2024 2.05%
2023 3.74%
2022 6.34%
2021 2.53%
2020 0.82%
2019 1.74%
2018 1.53%
2017 1.73%
2016 0.29%
2015 0.47%
2014 0.63%
2013 1.73%
2012 2.66%
2011 3.41%
2010 2.27%
2009 0.37%
2008 3.4%
2007 2.31%
2006 2.67%
2005 2.49%
2004 2.23%
2003 2.05%
2002 2.07%
2001 2.66%
2000 3.15%
1999 1.03%
1998 0.96%
1997 1.37%
1996 1.18%
1995 1.87%
1994 2.19%
1993 3.59%
1992 3.15%
1991 3.12%
1990 3.25%
1989 3.37%
1988 1.44%
1987 -0.06%
1986 0.29%
1985 4.09%
1984 6.44%
1983 8.67%
1982 9.36%
1981 8.07%
1980 6.3%
1979 4.55%
1978 3.09%
1977 6.71%
1976 9.8%
1975 10.7%
1974 9.54%
1973 6.07%
1972 5.23%
1971 4.67%
1970 4.64%
1969 2.29%
1968 2.63%
1967 2.17%
1966 3.33%
1965 3.33%
1964 3.1%
1963 2.88%
1962 0.9%
1961 0.48%
1960 0.45%

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/luxembourg | CC BY

Over the past 20 years, Luxembourg has had an average annual inflation rate of 2.15%. In 2025, inflation was 2.26%. The bar chart above shows consumer price inflation by year.

Balance of trade

Luxembourg Rank
Current account balance
$5.29B
2025
31/190
Current account balance, % of GDP
+5.23%
2025
29/190
Goods imports
$30.9B
2025
70/189
Goods exports
$33B
2025
67/189
Service imports
$133B
2025
17/189
Service exports
$167B
2025
16/189
Imports of goods and services, % of GDP
159.4%
2025
1/182
Exports of goods and services, % of GDP
190.5%
2025
1/193

Luxembourg top 10 trading partners

Luxembourg's biggest trading partner accounting for 20.1% of all exports and imports is Germany, with a trade balance between the two of +$6.91B: Luxembourg exports $33.7B worth of goods and services to Germany and imports $26.8B.

Below is the list of the top 10 trade partners of Luxembourg.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 Germany $60.6B 20.1% $33.7B $26.8B Business & finance services Business & finance services
2 United Kingdom $43.1B 14.3% $24.8B $18.3B Business & finance services Business & finance services
3 France $32.5B 10.8% $19.1B $13.3B Business & finance services Business & finance services
4 United States $26.5B 8.81% $6.97B $19.6B Business & finance services Business & finance services
5 Italy $21.1B 7% $13B $8.09B Business & finance services Business & finance services
6 Belgium $19.5B 6.49% $9.85B $9.69B Business & finance services Business & finance services
7 Switzerland $14.8B 4.92% $8.62B $6.18B Business & finance services Business & finance services
8 Ireland $10.8B 3.6% $2.24B $8.61B Business & finance services Business & finance services
9 Spain $10.6B 3.53% $7.1B $3.54B Business & finance services Transport & tourism services
10 Netherlands $10.3B 3.43% $6.18B $4.15B Business & finance services Business & finance services

Top 10 exports

Luxembourg Rank
Business & finance services $134B 8/189
Transport & tourism services $29.1B 30/191
IT & IP services $6.78B 30/185
Machinery & equipment $4.84B 56/193
Metals $2.98B 55/192
Chemicals & pharma $2.88B 55/193
Textiles & consumer goods $1.56B 69/193
Raw materials & minerals $1.06B 106/193
Processed food, beverages & tobacco $950M 83/192
Animal & marine products $924M 61/192

Top 10 imports

Luxembourg Rank
Business & finance services $73.9B 12/189
Transport & tourism services $28.4B 29/191
IT & IP services $22.3B 18/185
Machinery & equipment $9.78B 69/193
Manufacturing & construction services $5.81B 19/170
Raw materials & minerals $4.09B 80/193
Chemicals & pharma $3.65B 72/193
Metals $2.49B 67/193
Processed food, beverages & tobacco $2.38B 67/193
Textiles & consumer goods $2.05B 77/193

Economic freedom indices

Luxembourg Rank
Economic freedom 79.7 7/197
Property rights 96.6 4/182
Government integrity 88.7 7/182
Judicial effectiveness 99.1 1/182
Tax burden 62.3 164/182
Government spending 36.9 155/180
Fiscal health 98.6 6/181
Business freedom 89.5 5/182
Labor freedom 56.7 84/182
Monetary freedom 74.1 88/180
Trade freedom 79.4 47/181
Investment freedom 95 1/181
Financial freedom 80 7/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 79.7 99.1 62.3 36.9 98.6
2025 79.5 97.2 62.7 39.4 98.5
2024 79.2 95.8 64.6 40.6 97.6
2023 78.4 89.7 64.8 41.6 80
2022 80.6 96.4 64.1 41.5 98.7
2021 76 77.6 63.4 46.2 99
2020 75.8 74.4 64.1 45.4 99
2019 75.9 72.4 65.4 46.6 98.9
2018 76.4 77.9 65.1 48.5 99
2017 75.9 77 64.5 46 99
2016 73.9 - 61.1 43 -
2015 73.2 - 62.3 42.2 -
2014 74.2 - 62.8 47.6 -
2013 74.2 - 65 47.1 -
2012 74.5 - 63.6 46.6 -
2011 76.2 - 66.7 58.5 -
2010 75.4 - 65.9 58.5 -
2009 75.2 - 66.3 54.4 -
2008 74.7 - 65.4 44.8 -
2007 74.6 - 65.3 44 -
2006 75.3 - 65.7 36.8 -
2005 76.3 - 64.3 39 -
2004 78.9 - 58.9 41.4 -
2003 79.9 - 59.8 51.5 -
2002 79.4 - 56.8 52 -
2001 80.1 - 52.5 58.9 -
2000 76.4 - 51.3 67.3 -
1999 72.4 - 46.5 37.9 -
1998 72.7 - 45.6 37.9 -
1997 72.8 - 45.2 40.6 -
1996 72.5 - 46.6 37.1 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

GeoRank.org/economy/luxembourg | CC BY

Luxembourg is ranked 6/174 for economic freedom with a score of 79.7, compared to 13/162 and a score of 75.3 in 2006.

Other economic metrics

Luxembourg Rank
Services, % of GDP
81.4%
2025
3/191
Industry, % of GDP
8.88%
2025
190/194
Agriculture, forestry, and fishing, % of GDP
0.23%
2025
190/193
GNI, Atlas method
$65.8B
2025
87/194
GNI per capita, PPP
$106,640
2025
4/191
Total reserves including gold
$3.06B
2025
120/177
Net foreign direct investment
$196B
2025
1/189
Net inflows of foreign direct investment
$106B
2024
3/193
Net outflows of foreign direct investment
$109B
2024
4/193
Poverty at national poverty lines
17.3%
2021
113/176
Gross capital formation, % of GDP
15.5%
2025
155/179

Compare Luxembourg vs other countries

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/luxembourg | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2024–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.