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Economy of Luxembourg vs Poland compared: GDP & Debt

Updated on by Georank team

Luxembourg has a GDP of $93.3B compared to $918B for Poland, ranking 74/197 and 21/197 by economy size, respectively.

Luxembourg has $24.5B in government debt (26.3% of GDP), compared to $507B (55.3% of GDP) in Poland.

Luxembourg vs Poland GDP by year

Luxembourg
Poland
1x
Year GDP, current $
Luxembourg Poland
2024 $93,279,851,863 $917,767,106,147
2023 $88,788,881,539 $812,451,193,396
2022 $80,801,680,397 $695,607,470,875
2021 $86,386,759,695 $689,170,230,665
2020 $73,670,782,100 $605,914,237,904
2019 $69,872,035,114 $602,683,770,145
2018 $71,085,623,495 $594,616,687,350
2017 $65,712,180,343 $528,356,676,667
2016 $62,216,885,436 $473,259,583,970
2015 $60,071,584,216 $480,054,118,583
2014 $68,804,811,898 $542,134,167,179
2013 $65,203,276,467 $518,179,836,405
2012 $59,776,383,527 $498,148,649,703
2011 $61,696,281,326 $527,848,543,023
2010 $56,213,985,987 $478,111,630,684
2009 $54,467,289,898 $440,891,472,247
2008 $58,844,277,702 $535,612,030,672
2007 $51,587,401,416 $429,715,132,138
2006 $42,910,146,296 $345,897,630,736
2005 $37,672,280,120 $306,999,913,151
2004 $35,064,843,793 $256,268,656,145
2003 $29,667,268,248 $218,561,225,998
2002 $23,649,833,332 $199,694,463,256
2001 $21,387,533,703 $191,823,200,371
2000 $21,230,182,989 $172,953,527,033
1999 $21,899,317,599 $170,704,452,715
1998 $20,150,053,345 $175,282,269,667
1997 $19,563,836,265 $159,893,964,917
1996 $20,895,314,658 $160,813,026,223
1995 $20,853,093,870 $142,838,527,115
1994 $17,701,798,891 $110,803,635,288
1993 $15,925,521,222 $96,043,157,273
1992 $15,518,702,635 $94,337,050,693
1991 $13,834,219,728 $85,500,935,935
1990 $12,778,792,854 $65,977,748,211
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/poland | CC BY

GDP per capita in Luxembourg vs Poland by year

Luxembourg
GDP per capita

GDP per capita, PPP
Poland
GDP per capita

GDP per capita, PPP
1x
Year Current $
Luxembourg Poland
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $137,782 $155,941 $25,104 $51,263
2023 $133,231 $150,508 $22,145 $48,473
2022 $123,720 $146,919 $18,891 $46,778
2021 $134,966 $136,772 $18,636 $41,060
2020 $116,860 $122,067 $16,151 $37,089
2019 $112,697 $121,372 $15,875 $35,882
2018 $116,927 $116,638 $15,658 $32,345
2017 $110,193 $114,986 $13,913 $30,170
2016 $106,899 $113,365 $12,464 $28,360
2015 $105,462 $107,860 $12,638 $26,988
2014 $123,679 $105,296 $14,262 $25,460
2013 $120,000 $100,925 $13,622 $24,434
2012 $112,585 $96,636 $13,087 $23,728
2011 $119,025 $94,475 $13,868 $22,809
2010 $110,886 $90,336 $12,568 $20,991
2009 $109,420 $86,919 $11,556 $19,300
2008 $120,422 $90,971 $14,049 $18,372
2007 $107,475 $85,126 $11,273 $16,833
2006 $90,789 $78,861 $9,069 $15,205
2005 $80,988 $68,788 $8,044 $13,936
2004 $76,545 $64,686 $6,712 $13,413
2003 $65,689 $60,192 $5,721 $12,329
2002 $53,006 $58,576 $5,223 $11,841
2001 $48,440 $56,136 $5,015 $11,175
2000 $48,660 $55,136 $4,521 $10,721
1999 $50,872 $49,845 $4,416 $10,081
1998 $47,445 $44,270 $4,534 $9,521
1997 $46,642 $42,488 $4,137 $8,967
1996 $50,444 $39,722 $4,164 $8,310
1995 $51,032 $38,345 $3,701 $7,715
1994 $43,933 $37,551 $2,875 $7,040
1993 $40,067 $35,899 $2,497 $6,560
1992 $39,571 $34,108 $2,459 $6,193
1991 $35,747 $33,191 $2,236 $5,925
1990 $33,465 $29,949 $1,731 $6,185
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/poland | CC BY

Luxembourg's GDP per capita is $137,782, ranking 3/197, compared to $25,104 in Poland, ranking 48/197. Adjusted for purchasing power (GDP per capita PPP), Luxembourg ranks 1st at $155,941, while Poland ranks 43rd at $51,263.

Economic indicators

Luxembourg Poland
Gross domestic product
$93.3B
2024
$918B
2024
GDP rank
74/197
2024
21/197
2024
GDP growth
0.36%
2023-2024
3.03%
2023-2024
GDP per capita
$137,782
2024
$25,104
2024
GDP per capita rank
3/197
2024
48/197
2024
GDP per capita, PPP
$155,941
2024
$51,263
2024
GDP per capita PPP rank
1/197
2024
43/197
2024
Government debt
$24.5B
2024
$507B
2024
Debt-to-GDP ratio
26.3%
2024
55.3%
2024
Government debt per person
$36,221
2024
$13,874
2024
Government debt per person rank
19/185
2024
41/185
2024
Average annual personal income after taxes
$69,593
2026
$20,736
2026
Market capitalization of domestic companies
$41.9B
2024
$197B
2024
Number of billionaires
1
2025
10
2025
Income share by richest 10%
25%
2023
22.9%
2023
Income share by poorest 10%
2.8%
2023
3.3%
2023
Government expenditure, % of GDP
46.9%
2024
49.4%
2024
Consumer prices inflation
2.05%
2023-2024
3.78%
2023-2024
Central bank interest rate n/a
4%
2025
Unemployment rate
6.42%
2024
2.81%
2024
Population
693885
35806942

Spending and national debt comparison by year

Luxembourg
Spending

Debt
Poland
Spending

Debt
1x
Year % of GDP
Luxembourg Poland
Government spending Government debt Government spending Government debt
2024 46.9% 26.3% 49.4% 55.3%
2023 46.4% 24.7% 46.9% 49.5%
2022 44.3% 24.9% 43.2% 48.8%
2021 42.4% 24.2% 43.6% 53%
2020 47% 24.5% 47.7% 56.6%
2019 43.1% 22.3% 41.4% 45.2%
2018 42.3% 20.9% 41% 48.2%
2017 41.3% 21.8% 41.1% 50.4%
2016 40% 19.6% 41.1% 54.1%
2015 40.4% 21.1% 41.5% 51.1%
2014 40.6% 21.9% 42.7% 51.1%
2013 41.2% 22.4% 43.2% 56.9%
2012 41.8% 20.8% 43.2% 54.5%
2011 41.5% 18.5% 44.1% 54.8%
2010 42% 19.1% 46% 53.7%
2009 42.7% 15.3% 44.9% 49.7%
2008 37.9% 14.6% 44% 46.6%
2007 37.4% 8.09% 42.8% 44.4%
2006 39.4% 8.21% 44.3% 47.1%
2005 43.4% 7.95% 44.1% 46.5%
2004 43.7% 7.83% 43.3% 44.9%
2003 43.3% 7.43% 45.5% 46.4%
2002 41.8% 7.45% 45.1% 41.6%
2001 38.1% 7.62% 44.7% 37.2%
2000 38% 7.49% 43.1% 36.4%
1999 41.7% 8.39% 42.5% 39.4%
1998 43.9% 9.51% 44% 38.7%
1997 44.2% 10.1% 46.1% 42.7%
1996 42.5% 10.2% 50.7% 43.2%
1995 42% 10.3% 47.5% 48.7%
1994 - - - 64.3%
1993 - - - 83.9%
1992 - - - 81.9%
1991 - - - 76.9%
1990 - - - 89.7%
1989 - - - -
1988 - - - -
1987 - - - -
1986 - - - -
1985 - - - -
1984 - - - -
1983 - - - -
1982 - - - -
1981 - - - -
1980 - - - -
1979 - - 35.6% -
1978 - - 35.8% -
1977 - - 35.6% -
1976 - - 34.8% -
1975 - - 34.1% -
1974 - - 28.6% -
1973 - - 24.5% -
1972 - - 24.1% -
1971 - - 24.1% -
1970 - - 25.8% -
1969 - - 26.3% -
1968 - - 27.3% -
1967 - - 29.6% -
1966 - - 31.7% -
1965 - - 31.8% -
1964 - - 33.5% -
1963 - - 33.3% -
1962 - - 43% -
1961 - - 42.8% -
1960 - - 39.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1994, retrieved 2026-02-20).

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

In 2024, Luxembourg's government spending was $43.7B, accounting for 46.9% of its GDP, while Poland spent $453B, or 49.4% of GDP.

Debt-to-GDP ratio is 26.3% in Luxembourg and 55.3% in Poland, ranking 162/185 and 95/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Poland
1x
Year Deficit/surplus, % of GDP
Luxembourg Poland
2024 1.03% -6.59%
2023 -0.78% -5.27%
2022 0.18% -3.44%
2021 1% -1.75%
2020 -3.09% -6.85%
2019 2.68% -0.73%
2018 3.17% -0.24%
2017 1.37% -1.49%
2016 1.89% -2.38%
2015 1.3% -2.59%
2014 1.33% -3.66%
2013 0.84% -4.25%
2012 0.5% -3.8%
2011 0.65% -4.97%
2010 -0.26% -7.43%
2009 -0.21% -7.24%
2008 3.37% -3.6%
2007 4.35% -1.88%
2006 1.9% -3.53%
2005 -0.21% -3.93%
2004 -1.39% -4.99%
2003 0.28% -6.02%
2002 2.03% -4.8%
2001 5.62% -4.73%
2000 5.55% -4%
1999 3.24% -2.3%
1998 2.98% -4.25%
1997 2.65% -4.61%
1996 2.37% -4.84%
1995 2.71% -4.39%

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

GeoRank.org/economy/luxembourg/poland | 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 Poland's deficit of $60.4B, or 6.59% of GDP.

Over the past 30 years, Luxembourg recorded a fiscal deficit in 6 of those years, while Poland ran a deficit in 30 years. On average, Luxembourg posted an annual surplus equal to 1.57% of GDP, compared to deficit of 4.02% of GDP for Poland.

Inflation comparison by year

Inflation
Luxembourg

Poland
1x
Year Consumer prices inflation
Luxembourg Poland
2024 2.05% 3.78%
2023 3.74% 11.5%
2022 6.34% 14.4%
2021 2.53% 5.06%
2020 0.82% 3.37%
2019 1.74% 2.23%
2018 1.53% 1.81%
2017 1.73% 2.08%
2016 0.29% -0.66%
2015 0.47% -0.87%
2014 0.63% 0.05%
2013 1.73% 0.99%
2012 2.66% 3.56%
2011 3.41% 4.24%
2010 2.27% 2.58%
2009 0.37% 3.8%
2008 3.4% 4.16%
2007 2.31% 2.46%
2006 2.67% 1.28%
2005 2.49% 2.18%
2004 2.23% 3.38%
2003 2.05% 0.68%
2002 2.07% 1.91%
2001 2.66% 5.41%
2000 3.15% 9.9%
1999 1.03% 7.15%
1998 0.96% 11.6%
1997 1.37% 14.9%

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

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

Over the past 28 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 4.39% in Poland. In 2024, inflation was 2.05% in Luxembourg and 3.78% in Poland.

Top exports between countries

Luxembourg
Export category Export value
Business & finance services $155M
Machinery & equipment $129M
Chemicals & pharma $83.8M
Metals $58.3M
Raw materials & minerals $52.6M
Textiles & consumer goods $33.3M
Wood & paper products $29.2M
Transport & tourism services $27M
Raw agricultural goods $5.72M
Animal & marine products $4.37M
Poland
Export category Export value
Machinery & equipment $233M
Processed food, beverages & tobacco $125M
Metals $82.9M
Chemicals & pharma $69.3M
Textiles & consumer goods $49.8M
Raw materials & minerals $27.7M
Business & finance services $27.4M
Wood & paper products $18.9M
Transport & tourism services $10M
Raw agricultural goods $5.41M

Balance of trade

Luxembourg Poland
Current account balance
$4.1B
2024
$2.8B
2024
Current account balance ranking
35/190
2024
40/190
2024
Current account balance, % of GDP
+4.4%
2024
+0.3%
2024
Goods imports
$29.4B
2024
$367B
2024
Goods exports
$31.3B
2024
$361B
2024
Service imports
$117B
2024
$74.9B
2024
Service exports
$150B
2024
$118B
2024
Imports of goods and services, % of GDP
159.7%
2024
48.2%
2024
Exports of goods and services, % of GDP
191.5%
2024
52.2%
2024

Economic freedom indices

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

Luxembourg Poland
Economic freedom 79.7 68.5
Economic freedom ranking 7/197 46/197
Property rights 96.6 71.8
Government integrity 88.7 60.7
Judicial effectiveness 99.1 62.5
Tax burden 62.3 72.7
Government spending 36.9 35.1
Fiscal health 98.6 74.8
Business freedom 89.5 77.5
Labor freedom 56.7 53.7
Monetary freedom 74.1 73.8
Trade freedom 79.4 79.4
Investment freedom 95 80
Financial freedom 80 80

Economic freedom comparison by year

Luxembourg
Poland
1x
Year Economic freedom index
Luxembourg Poland
2026 79.7 68.5
2025 79.5 67.1
2024 79.2 66
2023 78.4 67.7
2022 80.6 68.7
2021 76 69.7
2020 75.8 69.1
2019 75.9 67.8
2018 76.4 68.5
2017 75.9 68.3
2016 73.9 69.3
2015 73.2 68.6
2014 74.2 67
2013 74.2 66
2012 74.5 64.2
2011 76.2 64.1
2010 75.4 63.2
2009 75.2 60.3
2008 74.7 60.3
2007 74.6 58.1
2006 75.3 59.3
2005 76.3 59.6
2004 78.9 58.7
2003 79.9 61.8
2002 79.4 65
2001 80.1 61.8
2000 76.4 60
1999 72.4 59.6
1998 72.7 59.2
1997 72.8 56.8
1996 72.5 57.8
1995 - 50.7

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

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

The Economic Freedom Index for Luxembourg is 79.7, ranking 7/197, compared to 68.5 for Poland, ranking 46/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Luxembourg Poland
Services, % of GDP
81.2%
2024
59.1%
2024
Industry, % of GDP
9.66%
2024
27.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.21%
2024
2.54%
2024
GNI, Atlas method
$57.3B
2024
$789B
2024
GNI per capita, PPP
$110,650
2024
$49,540
2024
Total reserves including gold
$2.79B
2024
$223B
2024
Total reserves ranking
119/177
2024
17/177
2024
Net foreign direct investment
$21.4B
2024
-$10.6B
2024
Net inflows of foreign direct investment
$106B
2024
$20.6B
2024
Net outflows of foreign direct investment
$109B
2024
$10B
2024
Poverty at national poverty lines
17.3%
2021
13.3%
2024
Gross capital formation, % of GDP
15.8%
2024
17.8%
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/poland | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1960–1994, retrieved 2026-02-20)
  6. TradeMap (2023–2024, 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.

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.