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Economy of Luxembourg vs Mozambique compared: GDP & Debt

Updated on by Georank team

Luxembourg has a GDP of $93.3B compared to $22.7B for Mozambique, ranking 74/197 and 123/197 by economy size, respectively.

Luxembourg has $24.5B in government debt (26.3% of GDP), compared to $21.2B (93.2% of GDP) in Mozambique.

Luxembourg vs Mozambique GDP by year

Luxembourg
Mozambique
1x
Year GDP, current $
Luxembourg Mozambique
2024 $93,279,851,863 $22,745,341,305
2023 $88,788,881,539 $20,921,079,533
2022 $80,801,680,397 $18,883,528,581
2021 $86,386,759,695 $16,168,055,475
2020 $73,670,782,100 $14,235,420,174
2019 $69,872,035,114 $15,512,759,047
2018 $71,085,623,495 $15,017,358,953
2017 $65,712,180,343 $13,264,640,646
2016 $62,216,885,436 $12,069,051,237
2015 $60,071,584,216 $16,208,985,770
2014 $68,804,811,898 $17,978,246,586
2013 $65,203,276,467 $17,198,073,057
2012 $59,776,383,527 $16,688,114,144
2011 $61,696,281,326 $14,619,279,989
2010 $56,213,985,987 $11,411,894,724
2009 $54,467,289,898 $12,263,894,790
2008 $58,844,277,702 $12,920,340,965
2007 $51,587,401,416 $10,811,456,006
2006 $42,910,146,296 $9,509,835,537
2005 $37,672,280,120 $8,868,504,900
2004 $35,064,843,793 $7,937,255,565
2003 $29,667,268,248 $6,583,526,861
2002 $23,649,833,332 $5,950,769,427
2001 $21,387,533,703 $5,650,154,067
2000 $21,230,182,989 $5,930,685,215
1999 $21,899,317,599 $6,285,219,691
1998 $20,150,053,345 $5,551,118,149
1997 $19,563,836,265 $4,873,663,775
1996 $20,895,314,658 $4,030,146,135
1995 $20,853,093,870 $3,061,646,174
1994 $17,701,798,891 $2,958,108,170
1993 $15,925,521,222 $2,883,161,897
1992 $15,518,702,635 $2,798,696,511
1991 $13,834,219,728 $3,854,856,435
1990 $12,778,792,854 -
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/mozambique | CC BY

GDP per capita in Luxembourg vs Mozambique by year

Luxembourg
GDP per capita

GDP per capita, PPP
Mozambique
GDP per capita

GDP per capita, PPP
1x
Year Current $
Luxembourg Mozambique
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $137,782 $155,941 $657 $1,705
2023 $133,231 $150,508 $622 $1,678
2022 $123,720 $146,919 $578 $1,582
2021 $134,966 $136,772 $510 $1,457
2020 $116,860 $122,067 $462 $1,412
2019 $112,697 $121,372 $519 $1,389
2018 $116,927 $116,638 $518 $1,326
2017 $110,193 $114,986 $471 $1,283
2016 $106,899 $113,365 $441 $1,379
2015 $105,462 $107,860 $611 $1,318
2014 $123,679 $105,296 $697 $1,166
2013 $120,000 $100,925 $687 $1,114
2012 $112,585 $96,636 $686 $1,076
2011 $119,025 $94,475 $618 $1,064
2010 $110,886 $90,336 $496 $1,000
2009 $109,420 $86,919 $548 $951
2008 $120,422 $90,971 $592 $916
2007 $107,475 $85,126 $508 $862
2006 $90,789 $78,861 $457 $798
2005 $80,988 $68,788 $437 $721
2004 $76,545 $64,686 $400 $673
2003 $65,689 $60,192 $339 $620
2002 $53,006 $58,576 $314 $580
2001 $48,440 $56,136 $305 $533
2000 $48,660 $55,136 $327 $472
1999 $50,872 $49,845 $354 $468
1998 $47,445 $44,270 $320 $422
1997 $46,642 $42,488 $287.5 $387
1996 $50,444 $39,722 $244.4 $350
1995 $51,032 $38,345 $191.8 $321
1994 $43,933 $37,551 $196.8 $326
1993 $40,067 $35,899 $205.2 $321
1992 $39,571 $34,108 $205.6 $292
1991 $35,747 $33,191 $288.7 $315
1990 $33,465 $29,949 - $296
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/mozambique | CC BY

Luxembourg's GDP per capita is $137,782, ranking 3/197, compared to $657 in Mozambique, ranking 189/197. Adjusted for purchasing power (GDP per capita PPP), Luxembourg ranks 1st at $155,941, while Mozambique ranks 192nd at $1,705.

Economic indicators

Luxembourg Mozambique
Gross domestic product
$93.3B
2024
$22.7B
2024
GDP rank
74/197
2024
123/197
2024
GDP growth
0.36%
2023-2024
2.15%
2023-2024
GDP per capita
$137,782
2024
$657
2024
GDP per capita rank
3/197
2024
189/197
2024
GDP per capita, PPP
$155,941
2024
$1,705
2024
GDP per capita PPP rank
1/197
2024
192/197
2024
Government debt
$24.5B
2024
$21.2B
2024
Debt-to-GDP ratio
26.3%
2024
93.2%
2024
Government debt per person
$36,221
2024
$612
2024
Government debt per person rank
19/185
2024
159/185
2024
Average annual personal income after taxes
$69,593
2026
$1,778
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
40.8%
2022
Income share by poorest 10%
2.8%
2023
1.7%
2022
Government expenditure, % of GDP
46.9%
2024
33.2%
2024
Consumer prices inflation
2.05%
2023-2024
3.2%
2023-2024
Central bank interest rate n/a
9.75%
2025
Unemployment rate
6.42%
2024
6.79%
2022
Population
693885
36941128

Spending and national debt comparison by year

Luxembourg
Spending

Debt
Mozambique
Spending

Debt
1x
Year % of GDP
Luxembourg Mozambique
Government spending Government debt Government spending Government debt
2024 46.9% 26.3% 33.2% 93.2%
2023 46.4% 24.7% 33.3% 90.9%
2022 44.3% 24.9% 32.9% 100.3%
2021 42.4% 24.2% 32.1% 104.3%
2020 47% 24.5% 33.9% 120%
2019 43.1% 22.3% 28% 98.3%
2018 42.3% 20.9% 32.9% 105.5%
2017 41.3% 21.8% 29.5% 103.8%
2016 40% 19.6% 29.1% 124.8%
2015 40.4% 21.1% 32.2% 86%
2014 40.6% 21.9% 39.7% 63.4%
2013 41.2% 22.4% 31.7% 49.5%
2012 41.8% 20.8% 28.1% 36.7%
2011 41.5% 18.5% 28.9% 34.2%
2010 42% 19.1% 26.7% 38.6%
2009 42.7% 15.3% 25.7% 39.3%
2008 37.9% 14.6% 21.3% 32.8%
2007 37.4% 8.09% 20.9% 31.2%
2006 39.4% 8.21% 20.1% 40%
2005 43.4% 7.95% 17% 60.1%
2004 43.7% 7.83% 17.8% 50.8%
2003 43.3% 7.43% 18.6% 63.2%
2002 41.8% 7.45% 18.6% 63.4%
2001 38.1% 7.62% 20.8% 99.8%
2000 38% 7.49% 17.2% 95.8%
1999 41.7% 8.39% 15.6% 94.7%
1998 43.9% 9.51% 14.9% -
1997 44.2% 10.1% 16.5% -
1996 42.5% 10.2% 14.9% -
1995 42% 10.3% 18.8% -
1994 - - 22.9% -
1993 - - 20.7% -
1992 - - 21.1% -
1991 - - 17.3% -
1990 - - 21% -
1989 - - 27% -
1988 - - 27% -
1987 - - 22.9% -
1986 - - 24.2% -
1985 - - 21% -
1984 - - 30.9% -
1983 - - 35.3% -
1982 - - 27% -
1981 - - 23.8% -
1980 - - 14.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

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

In 2024, Luxembourg's government spending was $43.7B, accounting for 46.9% of its GDP, while Mozambique spent $7.56B, or 33.2% of GDP.

Debt-to-GDP ratio is 26.3% in Luxembourg and 93.2% in Mozambique, ranking 162/185 and 28/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Mozambique
1x
Year Deficit/surplus, % of GDP
Luxembourg Mozambique
2024 1.03% -6.17%
2023 -0.78% -4.26%
2022 0.18% -5.22%
2021 1% -5.23%
2020 -3.09% -6.19%
2019 2.68% 1.7%
2018 3.17% -7.39%
2017 1.37% -2.9%
2016 1.89% -5.42%
2015 1.3% -6.55%
2014 1.33% -9.75%
2013 0.84% -2.46%
2012 0.5% -3.45%
2011 0.65% -4.34%
2010 -0.26% -3.5%
2009 -0.21% -4.35%
2008 3.37% -1.9%
2007 4.35% -2.19%
2006 1.9% -3.03%
2005 -0.21% -2.06%
2004 -1.39% -3.17%
2003 0.28% -2.64%
2002 2.03% -3.36%
2001 5.62% -4.43%
2000 5.55% -1.26%
1999 3.24% -0.31%
1998 2.98% -1.08%
1997 2.65% -1.81%
1996 2.37% -2.07%
1995 2.71% -2.46%
1994 - -4%
1993 - -2.53%
1992 - -1.85%
1991 - -2.01%
1990 - -4.42%
1989 - -4.23%
1988 - -6.47%
1987 - -7.24%
1986 - -12.1%
1985 - -9.69%
1984 - -13.4%
1983 - -15.8%
1982 - -3.61%
1981 - -7.41%
1980 - -1.47%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

GeoRank.org/economy/luxembourg/mozambique | 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 Mozambique's deficit of $1.4B, or 6.17% of GDP.

Over the past 30 years, Luxembourg recorded a fiscal deficit in 6 of those years, while Mozambique ran a deficit in 29 years. On average, Luxembourg posted an annual surplus equal to 1.57% of GDP, compared to deficit of 3.58% of GDP for Mozambique.

Inflation comparison by year

Inflation
Luxembourg

Mozambique
1x
Year Consumer prices inflation
Luxembourg Mozambique
2024 2.05% 3.2%
2023 3.74% 7%
2022 6.34% 10.4%
2021 2.53% 6.6%
2020 0.82% 0.9%
2019 1.74% 5.7%
2018 1.53% 3.2%
2017 1.73% 15.8%
2016 0.29% 18.4%
2015 0.47% 3.6%
2014 0.63% 2.6%
2013 1.73% 4.3%
2012 2.66% 2.6%
2011 3.41% 11.2%
2010 2.27% 12.4%
2009 0.37% 3.8%
2008 3.4% 14.5%
2007 2.31% 10.4%
2006 2.67% 13.2%
2005 2.49% 6.4%
2004 2.23% 12.6%
2003 2.05% 13.5%
2002 2.07% 16.8%
2001 2.66% 9.1%
2000 3.15% 12.7%
1999 1.03% 2.9%
1998 0.96% 1.5%
1997 1.37% 7.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 8.31% in Mozambique. In 2024, inflation was 2.05% in Luxembourg and 3.2% in Mozambique.

Top exports between countries

Luxembourg
Export category Export value
Chemicals & pharma $979K
Machinery & equipment $721K
Metals $201K
Raw materials & minerals $4K
Textiles & consumer goods $2K
Mozambique
Export category Export value
Metals $6.92M
Processed food, beverages & tobacco $126K
Machinery & equipment $49K
Textiles & consumer goods $6K
Chemicals & pharma $1K

Balance of trade

Luxembourg Mozambique
Current account balance
$4.1B
2024
-$2.49B
2024
Current account balance ranking
35/190
2024
150/190
2024
Current account balance, % of GDP
+4.4%
2024
-11%
2024
Goods imports
$29.4B
2024
$8.38B
2024
Goods exports
$31.3B
2024
$8.21B
2024
Service imports
$117B
2024
$2.11B
2024
Service exports
$150B
2024
$1.15B
2024
Imports of goods and services, % of GDP
159.7%
2024
52.8%
2024
Exports of goods and services, % of GDP
191.5%
2024
42.8%
2024

Economic freedom indices

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

Luxembourg Mozambique
Economic freedom 79.7 49.6
Economic freedom ranking 7/197 164/197
Property rights 96.6 29.7
Government integrity 88.7 25.1
Judicial effectiveness 99.1 43.4
Tax burden 62.3 75.8
Government spending 36.9 67
Fiscal health 98.6 39.1
Business freedom 89.5 40.2
Labor freedom 56.7 47.7
Monetary freedom 74.1 76.2
Trade freedom 79.4 71.2
Investment freedom 95 40
Financial freedom 80 40

Economic freedom comparison by year

Luxembourg
Mozambique
1x
Year Economic freedom index
Luxembourg Mozambique
2026 79.7 49.6
2025 79.5 50.7
2024 79.2 50.7
2023 78.4 52.5
2022 80.6 51.3
2021 76 51.6
2020 75.8 50.5
2019 75.9 48.6
2018 76.4 46.3
2017 75.9 49.9
2016 73.9 53.2
2015 73.2 54.8
2014 74.2 55
2013 74.2 55
2012 74.5 57.1
2011 76.2 56.8
2010 75.4 56
2009 75.2 55.7
2008 74.7 55.4
2007 74.6 54.7
2006 75.3 51.9
2005 76.3 54.6
2004 78.9 57.2
2003 79.9 58.6
2002 79.4 57.7
2001 80.1 59.2
2000 76.4 52.2
1999 72.4 48.9
1998 72.7 43
1997 72.8 44
1996 72.5 48.4
1995 - 45.5

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

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

The Economic Freedom Index for Luxembourg is 79.7, ranking 7/197, compared to 49.6 for Mozambique, ranking 164/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Luxembourg Mozambique
Services, % of GDP
81.2%
2024
41.1%
2024
Industry, % of GDP
9.66%
2024
21.9%
2024
Agriculture, forestry, and fishing, % of GDP
0.21%
2024
25.2%
2024
GNI, Atlas method
$57.3B
2024
$19.1B
2024
GNI per capita, PPP
$110,650
2024
$1,520
2024
Total reserves including gold
$2.79B
2024
$3.84B
2024
Total reserves ranking
119/177
2024
108/177
2024
Net foreign direct investment
$21.4B
2024
-$3.55B
2024
Net inflows of foreign direct investment
$106B
2024
$3.51B
2024
Net outflows of foreign direct investment
$109B
2024
-$44.1M
2024
Servicing debt to the IMF, % of GNI n/a
22.4%
2024
Poverty at national poverty lines
17.3%
2021
65%
2022
Gross capital formation, % of GDP
15.8%
2024
17.7%
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/mozambique | 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 (1990–2024, 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. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.