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Economy of Luxembourg vs Poland compared: GDP & Debt

Updated on by Georank

Luxembourg has a GDP of $101B compared to $1.04T for Poland, ranking 75/197 and 21/197 by economy size, respectively.

Luxembourg has $27.3B in government debt (27% of GDP), compared to $609B (58.8% of GDP) in Poland.

Luxembourg vs Poland GDP by year

Luxembourg
Poland
1x
Year GDP, current $
Luxembourg Poland
2025 $101,157,829,491 $1,035,491,784,197
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 $594,616,632,477
2017 $65,712,180,343 $528,356,723,263
2016 $62,216,885,436 $473,259,623,976
2015 $60,071,584,216 $480,054,118,583
2014 $68,804,814,555 $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 $42,910,153,830 $345,897,630,736
2005 $37,672,311,223 $306,999,913,151
2004 $35,064,843,793 $256,268,656,145
2003 $29,667,268,248 $218,561,225,998
2002 $23,649,832,387 $199,694,463,256
2001 $21,387,550,720 $191,823,200,371
2000 $21,230,200,538 $172,953,527,033
1999 $21,899,317,599 $170,704,452,715
1998 $20,150,055,568 $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 (1960–2025, retrieved 2026-07-08).

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
2025 $147,252 - $28,420 -
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 (1960–2025, retrieved 2026-07-08).

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

Luxembourg's GDP per capita is $147,252, ranking 3/197, compared to $28,420 in Poland, ranking 47/197. 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
$101B
2025
$1.04T
2025
GDP rank
75/197
2025
21/197
2025
GDP growth
0.64%
2024-2025
3.57%
2024-2025
GDP per capita
$147,252
2025
$28,420
2025
GDP per capita rank
3/197
2025
47/197
2025
GDP per capita, PPP
$155,941
2024
$51,263
2024
GDP per capita PPP rank
1/197
2024
43/197
2024
Government debt
$27.3B
2025
$609B
2025
Debt-to-GDP ratio
27%
2025
58.8%
2025
Government debt per person
$39,717
2025
$16,712
2025
Government debt per person rank
18/185
2025
39/185
2025
Average annual personal income after taxes
$71,808
2026
$20,616
2026
Market capitalization of domestic companies
$69.4B
2025
$316B
2025
Number of millionaires
85,000
2026
101,000
2026
Number of billionaires
1
2026
10
2026
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
48.3%
2025
50%
2025
Consumer prices inflation
2.26%
2024-2025
3.81%
2024-2025
Central bank interest rate n/a
3.75%
2026
Unemployment rate
6.5%
2025
3.02%
2025
Population
697802
36007074

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
2025 48.3% 27% 50% 58.8%
2024 46.8% 26.3% 49.4% 55.1%
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% 43.4% 45%
2003 43.3% 7.43% 45.3% 46.2%
2002 41.8% 7.45% 44.9% 41.4%
2001 38.1% 7.62% 44.6% 37%
2000 38% 7.49% 42.9% 36.3%
1999 41.7% 8.39% 42.4% 39.2%
1998 43.9% 9.51% 43.9% 38.6%
1997 44.2% 10.1% 46% 42.6%
1996 42.5% 10.2% 50.6% 43%
1995 42% 10.3% 47.3% 48.6%
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 (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1994, retrieved 2026-07-08).

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

In 2025, Luxembourg's government spending was $48.8B, accounting for 48.3% of its GDP, while Poland spent $517B, or 50% of GDP.

Debt-to-GDP ratio is 27% in Luxembourg and 58.8% in Poland, ranking 165/185 and 81/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Poland
1x
Year Deficit/surplus, % of GDP
Luxembourg Poland
2025 -0.96% -7.01%
2024 0.89% -6.48%
2023 -0.65% -5.2%
2022 0.21% -3.37%
2021 1.11% -1.68%
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% -5%
2003 0.28% -6%
2002 2.03% -4.79%
2001 5.62% -4.71%
2000 5.55% -3.98%
1999 3.24% -2.29%
1998 2.98% -4.24%
1997 2.65% -4.59%
1996 2.37% -4.82%
1995 2.71% -4.38%

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

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

In 2025, Luxembourg's government deficit, the difference between spending and revenue, was $976M, equivalent to 0.96% of GDP. This compares to Poland's deficit of $72.6B, or 7.01% of GDP.

Over the past 31 years, Luxembourg recorded a fiscal deficit in 7 of those years, while Poland ran a deficit in 31 years. On average, Luxembourg posted an annual surplus equal to 1.49% of GDP, compared to deficit of 4.1% of GDP for Poland.

Inflation comparison by year

Inflation
Luxembourg

Poland
1x
Year Consumer prices inflation
Luxembourg Poland
2025 2.26% 3.81%
2024 2.05% 3.79%
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 (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 4.37% in Poland. In 2025, inflation was 2.26% in Luxembourg and 3.81% in Poland.

Top exports between countries

Luxembourg
Export category Export value
Business & finance services $638M
Machinery & equipment $116M
Chemicals & pharma $92.4M
Transport & tourism services $63.8M
Raw materials & minerals $59.3M
Metals $57M
Textiles & consumer goods $52.4M
Wood & paper products $28M
Processed food, beverages & tobacco $7.2M
Raw agricultural goods $6.51M
Poland
Export category Export value
Transport & tourism services $1.63B
Business & finance services $736M
Machinery & equipment $228M
Processed food, beverages & tobacco $141M
IT & IP services $130M
Metals $74.6M
Chemicals & pharma $67.3M
Textiles & consumer goods $58.6M
Raw materials & minerals $39.4M
Manufacturing & construction services $24.9M

Balance of trade

Luxembourg Poland
Current account balance
$5.29B
2025
-$9.05B
2025
Current account balance ranking
31/190
2025
172/190
2025
Current account balance, % of GDP
+5.23%
2025
-0.87%
2025
Goods imports
$30.9B
2025
$406B
2025
Goods exports
$33B
2025
$390B
2025
Service imports
$133B
2025
$86.5B
2025
Service exports
$167B
2025
$131B
2025
Imports of goods and services, % of GDP
159.4%
2025
47.1%
2025
Exports of goods and services, % of GDP
190.5%
2025
50%
2025

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 2026-07-08).

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
81.4%
2025
59.7%
2025
Industry, % of GDP
8.88%
2025
25.8%
2025
Agriculture, forestry, and fishing, % of GDP
0.23%
2025
2.45%
2025
GNI, Atlas method
$65.8B
2025
$930B
2025
GNI per capita, PPP
$106,640
2025
$52,290
2025
Total reserves including gold
$3.06B
2025
$272B
2025
Total reserves ranking
120/177
2025
16/177
2025
Net foreign direct investment
$196B
2025
-$11.7B
2025
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
15.5%
2025
17.9%
2025

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/poland | 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 (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1960–1994, retrieved 2026-07-08)
  6. TradeMap (2023–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. 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.