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Economy of Luxembourg vs Moldova compared: GDP & Debt

Updated on by Georank team

Luxembourg has a GDP of $93.3B compared to $18.2B for Moldova, ranking 74/197 and 134/197 by economy size, respectively.

Luxembourg has $24.5B in government debt (26.3% of GDP), compared to $7.06B (38.8% of GDP) in Moldova.

Luxembourg vs Moldova GDP by year

Luxembourg
Moldova
1x
Year GDP, current $
Luxembourg Moldova
2024 $93,279,851,863 $18,200,340,854
2023 $88,788,881,539 $16,711,906,746
2022 $80,801,680,397 $14,525,337,524
2021 $86,386,759,695 $13,691,869,264
2020 $73,670,782,100 $11,530,746,234
2019 $69,872,035,114 $11,736,797,055
2018 $71,085,623,495 $11,252,353,421
2017 $65,712,180,343 $9,514,404,016
2016 $62,216,885,436 $7,980,917,076
2015 $60,071,584,216 $7,797,667,197
2014 $68,804,811,898 $9,402,090,138
2013 $65,203,276,467 $9,496,717,876
2012 $59,776,383,527 $8,709,138,635
2011 $61,696,281,326 $8,414,352,020
2010 $56,213,985,987 $6,974,982,370
2009 $54,467,289,898 $5,439,434,272
2008 $58,844,277,702 $6,054,824,248
2007 $51,587,401,416 $4,401,173,152
2006 $42,910,146,296 $3,408,255,451
2005 $37,672,280,120 $2,988,342,907
2004 $35,064,843,793 $2,598,249,556
2003 $29,667,268,248 $1,980,907,435
2002 $23,649,833,332 $1,661,818,168
2001 $21,387,533,703 $1,480,673,594
2000 $21,230,182,989 $1,288,429,392
1999 $21,899,317,599 $1,170,782,957
1998 $20,150,053,345 $1,698,717,505
1997 $19,563,836,265 $1,930,081,169
1996 $20,895,314,658 $1,695,122,174
1995 $20,853,093,870 $1,752,999,370
1994 $17,701,798,891 $1,702,314,268
1993 $15,925,521,222 $2,371,813,324
1992 $15,518,702,635 $2,319,243,436
1991 $13,834,219,728 $3,094,565,871
1990 $12,778,792,854 $3,592,857,043
1989 $10,037,674,038 -
1988 $9,418,167,855 -
1987 $8,320,902,215 -
1986 $6,685,595,088 -
1985 $4,577,211,767 -
1984 $4,438,435,493 -
1983 $4,524,217,751 -
1982 $4,602,316,793 -
1981 $5,053,665,797 -
1980 $6,019,805,490 -
1979 $5,516,982,664 -
1978 $4,718,539,772 -
1977 $3,789,321,328 -
1976 $3,423,586,207 -
1975 $3,123,333,333 -
1974 $3,183,637,117 -
1973 $2,609,875,802 -
1972 $1,901,697,370 -
1971 $1,518,773,421 -
1970 $1,457,768,455 -
1969 $1,245,432,991 -
1968 $1,075,561,623 -
1967 $983,052,315 -
1966 $976,717,015 -
1965 $929,477,285 -
1964 $910,877,686 -
1963 $797,902,154 -
1962 $747,846,862 -
1961 $710,163,719 -
1960 $709,941,874 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/luxembourg/moldova | CC BY

GDP per capita in Luxembourg vs Moldova by year

Luxembourg
GDP per capita

GDP per capita, PPP
Moldova
GDP per capita

GDP per capita, PPP
1x
Year Current $
Luxembourg Moldova
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $137,782 $155,941 $7,576 $18,615
2023 $133,231 $150,508 $6,800 $17,747
2022 $123,720 $146,919 $5,744 $16,453
2021 $134,966 $136,772 $5,275 $15,682
2020 $116,860 $122,067 $4,376 $13,527
2019 $112,697 $121,372 $4,405 $13,413
2018 $116,927 $116,638 $4,156 $11,868
2017 $110,193 $114,986 $3,453 $11,252
2016 $106,899 $113,365 $2,847 $10,326
2015 $105,462 $107,860 $2,750 $9,198
2014 $123,679 $105,296 $3,290 $8,643
2013 $120,000 $100,925 $3,321 $8,233
2012 $112,585 $96,636 $3,045 $7,255
2011 $119,025 $94,475 $2,941 $6,833
2010 $110,886 $90,336 $2,437 $6,323
2009 $109,420 $86,919 $1,898 $5,827
2008 $120,422 $90,971 $2,111 $6,153
2007 $107,475 $85,126 $1,531 $5,590
2006 $90,789 $78,861 $1,183 $5,271
2005 $80,988 $68,788 $1,034 $4,866
2004 $76,545 $64,686 $897 $4,378
2003 $65,689 $60,192 $682 $3,960
2002 $53,006 $58,576 $571 $3,633
2001 $48,440 $56,136 $507 $3,311
2000 $48,660 $55,136 $441 $3,045
1999 $50,872 $49,845 $399 $2,910
1998 $47,445 $44,270 $579 $2,965
1997 $46,642 $42,488 $657 $3,136
1996 $50,444 $39,722 $575 $3,021
1995 $51,032 $38,345 $594 $3,146
1994 $43,933 $37,551 $574 $3,111
1993 $40,067 $35,899 $797 $4,394
1992 $39,571 $34,108 $778 $4,337
1991 $35,747 $33,191 $1,038 $5,980
1990 $33,465 $29,949 $1,207 $6,895
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 (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/luxembourg/moldova | CC BY

Luxembourg's GDP per capita is $137,782, ranking 3/197, compared to $7,576 in Moldova, ranking 99/197. Adjusted for purchasing power (GDP per capita PPP), Luxembourg ranks 1st at $155,941, while Moldova ranks 100th at $18,615.

Economic indicators

Luxembourg Moldova
Gross domestic product
$93.3B
2024
$18.2B
2024
GDP rank
74/197
2024
134/197
2024
GDP growth
0.36%
2023-2024
0.1%
2023-2024
GDP per capita
$137,782
2024
$7,576
2024
GDP per capita rank
3/197
2024
99/197
2024
GDP per capita, PPP
$155,941
2024
$18,615
2024
GDP per capita PPP rank
1/197
2024
100/197
2024
Government debt
$24.5B
2024
$7.06B
2024
Debt-to-GDP ratio
26.3%
2024
38.8%
2024
Government debt per person
$36,221
2024
$2,938
2024
Government debt per person rank
19/185
2024
102/185
2024
Average annual personal income after taxes
$69,593
2026
$4,291
2026
Market capitalization of domestic companies
$41.9B
2024
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
25%
2023
22.8%
2023
Income share by poorest 10%
2.8%
2023
4.3%
2023
Government expenditure, % of GDP
46.9%
2024
38%
2024
Consumer prices inflation
2.05%
2023-2024
4.68%
2023-2024
Central bank interest rate n/a
6%
2025
Unemployment rate
6.42%
2024
1.43%
2024
Population
693885
2341166

Spending and national debt comparison by year

Luxembourg
Spending

Debt
Moldova
Spending

Debt
1x
Year % of GDP
Luxembourg Moldova
Government spending Government debt Government spending Government debt
2024 46.9% 26.3% 38% 38.8%
2023 46.4% 24.7% 38.8% 34.9%
2022 44.3% 24.9% 36.6% 35%
2021 42.4% 24.2% 34.6% 33.6%
2020 47% 24.5% 36.7% 36.6%
2019 43.1% 22.3% 32% 28.8%
2018 42.3% 20.9% 31.5% 31.8%
2017 41.3% 21.8% 31% 34.9%
2016 40% 19.6% 30.5% 39.7%
2015 40.4% 21.1% 31.7% 42.1%
2014 40.6% 21.9% 33.8% 35.4%
2013 41.2% 22.4% 32.4% 30%
2012 41.8% 20.8% 33.7% 31.3%
2011 41.5% 18.5% 32.6% 24.2%
2010 42% 19.1% 34.1% 25.5%
2009 42.7% 15.3% 45.3% 32.6%
2008 37.9% 14.6% 41.5% 22.2%
2007 37.4% 8.09% 42.7% 28.3%
2006 39.4% 8.21% 40.3% 35%
2005 43.4% 7.95% 37.1% 40.4%
2004 43.7% 7.83% 34.8% 49.3%
2003 43.3% 7.43% 33.5% 68.1%
2002 41.8% 7.45% 30.7% 80.3%
2001 38.1% 7.62% 29.5% 85.4%
2000 38% 7.49% 34% 89.1%
1999 41.7% 8.39% 33% 150.7%
1998 43.9% 9.51% 39.1% 159.4%
1997 44.2% 10.1% 46% 89%
1996 42.5% 10.2% 43.3% 87.5%
1995 42% 10.3% 42% 79.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/luxembourg/moldova | CC BY

In 2024, Luxembourg's government spending was $43.7B, accounting for 46.9% of its GDP, while Moldova spent $6.91B, or 38% of GDP.

Debt-to-GDP ratio is 26.3% in Luxembourg and 38.8% in Moldova, ranking 162/185 and 137/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Moldova
1x
Year Deficit/surplus, % of GDP
Luxembourg Moldova
2024 1.03% -3.88%
2023 -0.78% -5.13%
2022 0.18% -3.24%
2021 1% -2.62%
2020 -3.09% -5.32%
2019 2.68% -1.47%
2018 3.17% -0.85%
2017 1.37% -0.65%
2016 1.89% -1.56%
2015 1.3% -1.93%
2014 1.33% -1.6%
2013 0.84% -1.57%
2012 0.5% -1.93%
2011 0.65% -2.05%
2010 -0.26% -2.18%
2009 -0.21% -6.38%
2008 3.37% -0.87%
2007 4.35% 0.15%
2006 1.9% -0.42%
2005 -0.21% 1.44%
2004 -1.39% 0.59%
2003 0.28% 0.47%
2002 2.03% -1.18%
2001 5.62% -0.34%
2000 5.55% -3.55%
1999 3.24% -2.64%
1998 2.98% -1.52%
1997 2.65% -7.47%
1996 2.37% -7.42%
1995 2.71% -2.58%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/luxembourg/moldova | CC BY

In 2024, Luxembourg's government surplus, the difference between spending and revenue, was $961M, equivalent to 1.03% of GDP. This compares to Moldova's deficit of $707M, or 3.88% of GDP.

Over the past 30 years, Luxembourg recorded a fiscal deficit in 6 of those years, while Moldova ran a deficit in 26 years. On average, Luxembourg posted an annual surplus equal to 1.57% of GDP, compared to deficit of 2.26% of GDP for Moldova.

Inflation comparison by year

Inflation
Luxembourg

Moldova
1x
Year Consumer prices inflation
Luxembourg Moldova
2024 2.05% 4.68%
2023 3.74% 13.4%
2022 6.34% 28.7%
2021 2.53% 5.11%
2020 0.82% 3.77%
2019 1.74% 4.84%
2018 1.53% 3.05%
2017 1.73% 6.57%
2016 0.29% 6.36%
2015 0.47% 9.68%
2014 0.63% 5.09%
2013 1.73% 4.6%
2012 2.66% 4.55%
2011 3.41% 7.69%
2010 2.27% 7.48%
2009 0.37% -0.06%
2008 3.4% 12.8%
2007 2.31% 12.4%
2006 2.67% 12.8%
2005 2.49% 12%
2004 2.23% 12.5%
2003 2.05% 11.7%
2002 2.07% 5.3%
2001 2.66% 9.76%
2000 3.15% 31.3%
1999 1.03% 39.3%
1998 0.96% 7.7%
1997 1.37% 11.8%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/luxembourg/moldova | CC BY

Over the past 28 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 10.5% in Moldova. In 2024, inflation was 2.05% in Luxembourg and 4.68% in Moldova.

Top exports between countries

Luxembourg
Export category Export value
Metals $430K
Machinery & equipment $357K
Processed food, beverages & tobacco $154K
Chemicals & pharma $76K
Textiles & consumer goods $28K
Miscellaneous $20K
Raw materials & minerals $1K
Moldova
Export category Export value
Raw agricultural goods $15K
Textiles & consumer goods $14K
Wood & paper products $11K
Machinery & equipment $3K
Precious metals & jewellery $3K
Metals $2K
Processed food, beverages & tobacco $2K

Balance of trade

Luxembourg Moldova
Current account balance
$4.1B
2024
-$3.01B
2024
Current account balance ranking
35/190
2024
156/190
2024
Current account balance, % of GDP
+4.4%
2024
-16.6%
2024
Goods imports
$29.4B
2024
$8.63B
2024
Goods exports
$31.3B
2024
$3.01B
2024
Service imports
$117B
2024
$1.8B
2024
Service exports
$150B
2024
$2.73B
2024
Imports of goods and services, % of GDP
159.7%
2024
57.3%
2024
Exports of goods and services, % of GDP
191.5%
2024
31.4%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Luxembourg Moldova
Economic freedom 79.7 58.1
Economic freedom ranking 7/197 112/197
Property rights 96.6 40.4
Government integrity 88.7 45.1
Judicial effectiveness 99.1 32.4
Tax burden 62.3 87.9
Government spending 36.9 57.2
Fiscal health 98.6 70.3
Business freedom 89.5 68.3
Labor freedom 56.7 48.1
Monetary freedom 74.1 66
Trade freedom 79.4 76.8
Investment freedom 95 55
Financial freedom 80 50

Economic freedom comparison by year

Luxembourg
Moldova
1x
Year Economic freedom index
Luxembourg Moldova
2026 79.7 58.1
2025 79.5 58.3
2024 79.2 57.1
2023 78.4 58.5
2022 80.6 61.3
2021 76 62.5
2020 75.8 62
2019 75.9 59.1
2018 76.4 58.4
2017 75.9 58
2016 73.9 57.4
2015 73.2 57.5
2014 74.2 57.3
2013 74.2 55.5
2012 74.5 54.4
2011 76.2 55.7
2010 75.4 53.7
2009 75.2 54.9
2008 74.7 57.9
2007 74.6 58.7
2006 75.3 58
2005 76.3 57.4
2004 78.9 57.1
2003 79.9 60
2002 79.4 57.4
2001 80.1 54.9
2000 76.4 59.6
1999 72.4 56.1
1998 72.7 53.5
1997 72.8 48.9
1996 72.5 52.5
1995 - 33

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/luxembourg/moldova | CC BY

The Economic Freedom Index for Luxembourg is 79.7, ranking 7/197, compared to 58.1 for Moldova, ranking 112/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Luxembourg Moldova
Services, % of GDP
81.2%
2024
62.3%
2024
Industry, % of GDP
9.66%
2024
16.8%
2024
Agriculture, forestry, and fishing, % of GDP
0.21%
2024
7.11%
2024
GNI, Atlas method
$57.3B
2024
$16.5B
2024
GNI per capita, PPP
$110,650
2024
$18,710
2024
Total reserves including gold
$2.79B
2024
$5.48B
2024
Total reserves ranking
119/177
2024
96/177
2024
Net foreign direct investment
$21.4B
2024
-$360M
2024
Net inflows of foreign direct investment
$106B
2024
$458M
2024
Net outflows of foreign direct investment
$109B
2024
$98.4M
2024
Servicing debt to the IMF, % of GNI n/a
6.22%
2024
Poverty at national poverty lines
17.3%
2021
31.6%
2023
Gross capital formation, % of GDP
15.8%
2024
21.1%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/luxembourg/moldova | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2020–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.