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Economy of Luxembourg vs Trinidad and Tobago compared: GDP & Debt

Updated on by Georank team

Luxembourg has a GDP of $93.3B compared to $25.6B for Trinidad and Tobago, ranking 74/197 and 115/197 by economy size, respectively.

Luxembourg has $24.5B in government debt (26.3% of GDP), compared to $16.5B (64.2% of GDP) in Trinidad and Tobago.

Luxembourg vs Trinidad and Tobago GDP by year

Luxembourg
Trinidad and Tobago
1x
Year GDP, current $
Luxembourg Trinidad
2024 $93,279,851,863 $25,633,544,529
2023 $88,788,881,539 $25,036,993,423
2022 $80,801,680,397 $28,341,164,301
2021 $86,386,759,695 $24,222,963,263
2020 $73,670,782,100 $20,888,515,184
2019 $69,872,035,114 $23,477,745,792
2018 $71,085,623,495 $23,883,058,083
2017 $65,712,180,343 $23,830,750,901
2016 $62,216,885,436 $23,624,322,193
2015 $60,071,584,216 $26,841,141,793
2014 $68,804,811,898 $29,474,180,005
2013 $65,203,276,467 $28,560,537,057
2012 $59,776,383,527 $27,147,349,937
2011 $61,696,281,326 $25,433,007,437
2010 $56,213,985,987 $22,157,920,592
2009 $54,467,289,898 $19,172,165,226
2008 $58,844,277,702 $27,871,587,350
2007 $51,587,401,416 $21,641,620,050
2006 $42,910,146,296 $18,369,361,094
2005 $37,672,280,120 $15,982,389,018
2004 $35,064,843,793 $13,280,291,990
2003 $29,667,268,248 $11,305,459,802
2002 $23,649,833,332 $9,008,298,229
2001 $21,387,533,703 $8,824,849,191
2000 $21,230,182,989 $8,154,342,116
1999 $21,899,317,599 $6,808,982,521
1998 $20,150,053,345 $6,043,686,654
1997 $19,563,836,265 $5,737,771,523
1996 $20,895,314,658 $5,759,570,336
1995 $20,853,093,870 $5,329,217,747
1994 $17,701,798,891 $4,947,181,646
1993 $15,925,521,222 $4,669,491,134
1992 $15,518,702,635 $5,439,552,941
1991 $13,834,219,728 $5,307,905,882
1990 $12,778,792,854 $5,068,000,000
1989 $10,037,674,038 $4,323,058,824
1988 $9,418,167,855 $4,496,910,569
1987 $8,320,902,215 $4,797,777,778
1986 $6,685,595,088 $4,794,444,444
1985 $4,577,211,767 $7,375,918,367
1984 $4,438,435,493 $7,757,083,333
1983 $4,524,217,751 $7,763,750,000
1982 $4,602,316,793 $8,140,416,667
1981 $5,053,665,797 $6,992,083,333
1980 $6,019,805,490 $6,235,833,333
1979 $5,516,982,664 $4,602,416,625
1978 $4,718,539,772 $3,562,333,458
1977 $3,789,321,328 $3,138,666,667
1976 $3,423,586,207 $2,500,424,955
1975 $3,123,333,333 $2,442,669,825
1974 $3,183,637,117 $2,042,001,071
1973 $2,609,875,802 $1,308,785,431
1972 $1,901,697,370 $1,083,391,758
1971 $1,518,773,421 $896,765,215
1970 $1,457,768,455 $821,850,000
1969 $1,245,432,991 $779,200,000
1968 $1,075,561,623 $758,899,950
1967 $983,052,315 $761,981,912
1966 $976,717,015 $723,739,857
1965 $929,477,285 $736,573,159
1964 $910,877,686 $711,897,520
1963 $797,902,154 $678,239,329
1962 $747,846,862 $619,322,810
1961 $710,163,719 $584,964,621
1960 $709,941,874 $535,673,252

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

GeoRank.org/economy/luxembourg/trinidad-and-tobago | CC BY

GDP per capita in Luxembourg vs Trinidad and Tobago by year

Luxembourg
GDP per capita

GDP per capita, PPP
Trinidad and Tobago
GDP per capita

GDP per capita, PPP
1x
Year Current $
Luxembourg Trinidad
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $137,782 $155,941 $18,733 $36,329
2023 $133,231 $150,508 $18,308 $34,623
2022 $123,720 $146,919 $20,751 $32,979
2021 $134,966 $136,772 $17,713 $30,482
2020 $116,860 $122,067 $15,284 $26,731
2019 $112,697 $121,372 $17,213 $29,316
2018 $116,927 $116,638 $17,571 $28,673
2017 $110,193 $114,986 $17,566 $28,484
2016 $106,899 $113,365 $17,449 $28,232
2015 $105,462 $107,860 $19,887 $29,825
2014 $123,679 $105,296 $21,908 $32,027
2013 $120,000 $100,925 $21,305 $31,746
2012 $112,585 $96,636 $20,332 $31,883
2011 $119,025 $94,475 $19,151 $31,078
2010 $110,886 $90,336 $16,815 $30,778
2009 $109,420 $86,919 $14,634 $29,602
2008 $120,422 $90,971 $21,299 $30,807
2007 $107,475 $85,126 $16,607 $29,355
2006 $90,789 $78,861 $14,153 $27,393
2005 $80,988 $68,788 $12,346 $23,536
2004 $76,545 $64,686 $9,871 $20,674
2003 $65,689 $60,192 $8,445 $18,743
2002 $53,006 $58,576 $6,763 $16,141
2001 $48,440 $56,136 $6,657 $14,797
2000 $48,660 $55,136 $6,179 $13,953
1999 $50,872 $49,845 $5,179 $12,812
1998 $47,445 $44,270 $4,613 $11,735
1997 $46,642 $42,488 $4,394 $10,769
1996 $50,444 $39,722 $4,427 $9,883
1995 $51,032 $38,345 $4,115 $9,099
1994 $43,933 $37,551 $3,840 $8,631
1993 $40,067 $35,899 $3,647 $8,209
1992 $39,571 $34,108 $4,277 $8,129
1991 $35,747 $33,191 $4,205 $7,274
1990 $33,465 $29,949 $4,047 $6,878
1989 $26,618 - $3,482 -
1988 $25,219 - $3,656 -
1987 $22,443 - $3,941 -
1986 $18,150 - $3,985 -
1985 $12,482 - $6,212 -
1984 $12,127 - $6,613 -
1983 $12,374 - $6,690 -
1982 $12,591 - $7,091 -
1981 $13,837 - $6,160 -
1980 $16,531 - $5,559 -
1979 $15,204 - $4,155 -
1978 $13,034 - $3,258 -
1977 $10,486 - $2,907 -
1976 $9,491 - $2,345 -
1975 $8,701 - $2,319 -
1974 $8,967 - $1,962 -
1973 $7,447 - $1,273 -
1972 $5,487 - $1,067 -
1971 $4,435 - $894 -
1970 $4,298 - $829 -
1969 $3,690 - $795 -
1968 $3,203 - $783 -
1967 $2,935 - $797 -
1966 $2,925 - $768 -
1965 $2,804 - $793 -
1964 $2,779 - $780 -
1963 $2,462 - $756 -
1962 $2,332 - $704 -
1961 $2,241 - $678 -
1960 $2,261 - $634 -

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

GeoRank.org/economy/luxembourg/trinidad-and-tobago | CC BY

Luxembourg's GDP per capita is $137,782, ranking 3/197, compared to $18,733 in Trinidad and Tobago, ranking 61/197. Adjusted for purchasing power (GDP per capita PPP), Luxembourg ranks 1st at $155,941, while Trinidad and Tobago ranks 62nd at $36,329.

Economic indicators

Luxembourg Trinidad
Gross domestic product
$93.3B
2024
$25.6B
2024
GDP rank
74/197
2024
115/197
2024
GDP growth
0.36%
2023-2024
2.51%
2023-2024
GDP per capita
$137,782
2024
$18,733
2024
GDP per capita rank
3/197
2024
61/197
2024
GDP per capita, PPP
$155,941
2024
$36,329
2024
GDP per capita PPP rank
1/197
2024
62/197
2024
Government debt
$24.5B
2024
$16.5B
2024
Debt-to-GDP ratio
26.3%
2024
64.2%
2024
Government debt per person
$36,221
2024
$12,028
2024
Government debt per person rank
19/185
2024
45/185
2024
Average annual personal income after taxes
$69,593
2026
$11,007
2026
Market capitalization of domestic companies
$41.9B
2024
$3.89B
2001
Number of billionaires
1
2025
n/a
Income share by richest 10%
25%
2023
29.9%
1992
Income share by poorest 10%
2.8%
2023
2.1%
1992
Government expenditure, % of GDP
46.9%
2024
32.3%
2024
Consumer prices inflation
2.05%
2023-2024
0.53%
2023-2024
Central bank interest rate n/a
3.5%
2020
Unemployment rate
6.42%
2024
4.01%
2024
Population
693885
1374840

Spending and national debt comparison by year

Luxembourg
Spending

Debt
Trinidad and Tobago
Spending

Debt
1x
Year % of GDP
Luxembourg Trinidad
Government spending Government debt Government spending Government debt
2024 46.9% 26.3% 32.3% 64.2%
2023 46.4% 24.7% 33.5% 62.2%
2022 44.3% 24.9% 27.2% 51.3%
2021 42.4% 24.2% 30.3% 58.4%
2020 47% 24.5% 36.2% 62.5%
2019 43.1% 22.3% 31.2% 46.2%
2018 42.3% 20.9% 30.2% 41.5%
2017 41.3% 21.8% 30.7% 39.8%
2016 40% 19.6% 31.9% 35.4%
2015 40.4% 21.1% 35% 27.1%
2014 40.6% 21.9% 32.8% 23.5%
2013 41.2% 22.4% 31.3% 21.6%
2012 41.8% 20.8% 29.5% 21.8%
2011 41.5% 18.5% 29.4% 26.4%
2010 42% 19.1% 30.4% 16.8%
2009 42.7% 15.3% 37% 20.7%
2008 37.9% 14.6% 26.7% 13.5%
2007 37.4% 8.09% 25.7% 16.2%
2006 39.4% 8.21% 31.6% 16.9%
2005 43.4% 7.95% 26.7% 19.8%
2004 43.7% 7.83% 22.5% 24.2%
2003 43.3% 7.43% 22.2% 30.2%
2002 41.8% 7.45% 24.4% 37%
2001 38.1% 7.62% 24.8% 36.6%
2000 38% 7.49% 23.1% 38.9%
1999 41.7% 8.39% 24.1% 42.2%
1998 43.9% 9.51% 26.9% 42.8%
1997 44.2% 10.1% 27.2% 46.1%
1996 42.5% 10.2% 27.6% 47%
1995 42% 10.3% 26.2% 50.1%
1994 - - 25.4% 52.6%
1993 - - 26.9% 58.8%
1992 - - 28.6% 49.2%
1991 - - 29.6% 49.5%
1990 - - 26.9% 47.7%
1989 - - 30.9% 51.9%
1988 - - 45.3% 65.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-02-20).

GeoRank.org/economy/luxembourg/trinidad-and-tobago | CC BY

In 2024, Luxembourg's government spending was $43.7B, accounting for 46.9% of its GDP, while Trinidad and Tobago spent $8.28B, or 32.3% of GDP.

Debt-to-GDP ratio is 26.3% in Luxembourg and 64.2% in Trinidad and Tobago, ranking 162/185 and 70/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Trinidad and Tobago
1x
Year Deficit/surplus, % of GDP
Luxembourg Trinidad
2024 1.03% -5.24%
2023 -0.78% -1.24%
2022 0.18% 0.92%
2021 1% -8.1%
2020 -3.09% -12.2%
2019 2.68% -3.74%
2018 3.17% -5.89%
2017 1.37% -10.4%
2016 1.89% -10.1%
2015 1.3% -7.56%
2014 1.33% -4.31%
2013 0.84% -2.67%
2012 0.5% -1.26%
2011 0.65% -0.67%
2010 -0.26% 0.13%
2009 -0.21% -5.42%
2008 3.37% 5.39%
2007 4.35% 3.12%
2006 1.9% 1.56%
2005 -0.21% 2.36%
2004 -1.39% 1.84%
2003 0.28% 1.8%
2002 2.03% -0.2%
2001 5.62% 0.61%
2000 5.55% 0.17%
1999 3.24% -0.88%
1998 2.98% -1.8%
1997 2.65% 0.11%
1996 2.37% -0.45%
1995 2.71% 0.17%
1994 - -0.02%
1993 - 0.23%
1992 - -2.74%
1991 - -0.21%
1990 - -1.27%
1989 - -4.46%
1988 - -9.34%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-02-20).

GeoRank.org/economy/luxembourg/trinidad-and-tobago | 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 Trinidad and Tobago's deficit of $1.34B, or 5.24% of GDP.

Over the past 30 years, Luxembourg recorded a fiscal deficit in 6 of those years, while Trinidad and Tobago ran a deficit in 18 years. On average, Luxembourg posted an annual surplus equal to 1.57% of GDP, compared to deficit of 2.13% of GDP for Trinidad and Tobago.

Inflation comparison by year

Inflation
Luxembourg

Trinidad and Tobago
1x
Year Consumer prices inflation
Luxembourg Trinidad
2024 2.05% 0.53%
2023 3.74% 4.63%
2022 6.34% 5.83%
2021 2.53% 2.06%
2020 0.82% 0.6%
2019 1.74% 1%
2018 1.53% 1.02%
2017 1.73% 1.88%
2016 0.29% 3.07%
2015 0.47% 4.66%
2014 0.63% 5.68%
2013 1.73% 5.2%
2012 2.66% 9.26%
2011 3.41% 5.11%
2010 2.27% 10.5%
2009 0.37% 6.98%
2008 3.4% 12%
2007 2.31% 7.89%
2006 2.67% 8.33%
2005 2.49% 6.87%
2004 2.23% 3.72%
2003 2.05% 3.81%
2002 2.07% 4.15%
2001 2.66% 5.54%
2000 3.15% 3.56%
1999 1.03% 3.44%
1998 0.96% 5.61%
1997 1.37% 3.63%

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

GeoRank.org/economy/luxembourg/trinidad-and-tobago | CC BY

Over the past 28 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 4.88% in Trinidad and Tobago. In 2024, inflation was 2.05% in Luxembourg and 0.53% in Trinidad and Tobago.

Top exports between countries

Luxembourg
Export category Export value
Metals $7.77M
Machinery & equipment $246K
Chemicals & pharma $1K
Raw materials & minerals $1K
Textiles & consumer goods $1K
Trinidad
Export category Export value
Raw materials & minerals $194K
Processed food, beverages & tobacco $4K
Animal & marine products $2K
Raw agricultural goods $2K

Balance of trade

Luxembourg Trinidad
Current account balance
$4.1B
2024
$645M
2024
Current account balance ranking
35/190
2024
58/190
2024
Current account balance, % of GDP
+4.4%
2024
+2.52%
2024
Goods imports
$29.4B
2024
$7.54B
2024
Goods exports
$31.3B
2024
$10B
2024
Service imports
$117B
2024
$2.71B
2024
Service exports
$150B
2024
$1.26B
2024
Imports of goods and services, % of GDP
159.7%
2024
n/a
Exports of goods and services, % of GDP
191.5%
2024
45%
2025

Economic freedom indices

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

Luxembourg Trinidad
Economic freedom 79.7 62.4
Economic freedom ranking 7/197 87/197
Property rights 96.6 47.3
Government integrity 88.7 45.5
Judicial effectiveness 99.1 58.8
Tax burden 62.3 76.1
Government spending 36.9 71.1
Fiscal health 98.6 86.3
Business freedom 89.5 67.1
Labor freedom 56.7 57.2
Monetary freedom 74.1 81
Trade freedom 79.4 68.8
Investment freedom 95 50
Financial freedom 80 40

Economic freedom comparison by year

Luxembourg
Trinidad and Tobago
1x
Year Economic freedom index
Luxembourg Trinidad
2026 79.7 62.4
2025 79.5 63.6
2024 79.2 60.4
2023 78.4 59.5
2022 80.6 58.8
2021 76 59
2020 75.8 58.3
2019 75.9 57
2018 76.4 57.7
2017 75.9 61.2
2016 73.9 62.9
2015 73.2 64.1
2014 74.2 62.7
2013 74.2 62.3
2012 74.5 64.4
2011 76.2 66.5
2010 75.4 65.7
2009 75.2 68
2008 74.7 69.5
2007 74.6 70.6
2006 75.3 70.4
2005 76.3 71.5
2004 78.9 71.3
2003 79.9 68.8
2002 79.4 70.1
2001 80.1 71.8
2000 76.4 74.5
1999 72.4 72.4
1998 72.7 72
1997 72.8 71.3
1996 72.5 69.2

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/luxembourg/trinidad-and-tobago | CC BY

The Economic Freedom Index for Luxembourg is 79.7, ranking 7/197, compared to 62.4 for Trinidad and Tobago, ranking 87/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Luxembourg Trinidad
Services, % of GDP
81.2%
2024
59.2%
2024
Industry, % of GDP
9.66%
2024
34.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.21%
2024
0.78%
2024
GNI, Atlas method
$57.3B
2024
$27B
2024
GNI per capita, PPP
$110,650
2024
$36,580
2024
Total reserves including gold
$2.79B
2024
$5.6B
2024
Total reserves ranking
119/177
2024
94/177
2024
Net foreign direct investment
$21.4B
2024
$980M
2024
Net inflows of foreign direct investment
$106B
2024
-$453M
2024
Net outflows of foreign direct investment
$109B
2024
$527M
2024
Poverty at national poverty lines
17.3%
2021
20%
2020
Gross capital formation, % of GDP
15.8%
2024
19%
2023

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/trinidad-and-tobago | CC BY

Compare countries by 7 more topics

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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 (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2020–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.