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Economy of Luxembourg vs Uzbekistan compared: GDP & Debt

Updated on by Georank team

Luxembourg has a GDP of $93.3B compared to $115B for Uzbekistan, ranking 74/197 and 66/197 by economy size, respectively.

Luxembourg has $24.5B in government debt (26.3% of GDP), compared to $37.5B (32.7% of GDP) in Uzbekistan.

Luxembourg vs Uzbekistan GDP by year

Luxembourg
Uzbekistan
1x
Year GDP, current $
Luxembourg Uzbekistan
2024 $93,279,851,863 $114,965,293,467
2023 $88,788,881,539 $102,641,879,249
2022 $80,801,680,397 $90,095,926,567
2021 $86,386,759,695 $77,340,060,003
2020 $73,670,782,100 $66,443,265,418
2019 $69,872,035,114 $67,293,639,798
2018 $71,085,623,495 $58,695,899,092
2017 $65,712,180,343 $69,703,222,283
2016 $62,216,885,436 $86,138,288,644
2015 $60,071,584,216 $86,196,264,755
2014 $68,804,811,898 $80,845,385,809
2013 $65,203,276,467 $73,180,037,915
2012 $59,776,383,527 $67,517,349,212
2011 $61,696,281,326 $60,178,909,297
2010 $56,213,985,987 $49,765,676,402
2009 $54,467,289,898 $33,689,223,673
2008 $58,844,277,702 $29,549,438,884
2007 $51,587,401,416 $22,311,393,928
2006 $42,910,146,296 $17,330,833,853
2005 $37,672,280,120 $14,307,509,839
2004 $35,064,843,793 $12,030,023,548
2003 $29,667,268,248 $10,134,453,435
2002 $23,649,833,332 $9,687,788,513
2001 $21,387,533,703 $11,401,421,329
2000 $21,230,182,989 $13,760,513,969
1999 $21,899,317,599 $17,078,465,982
1998 $20,150,053,345 $14,988,971,211
1997 $19,563,836,265 $14,744,603,774
1996 $20,895,314,658 $13,948,892,216
1995 $20,853,093,870 $13,350,461,265
1994 $17,701,798,891 $12,899,074,922
1993 $15,925,521,222 $13,099,920,056
1992 $15,518,702,635 $12,953,801,760
1991 $13,834,219,728 $13,800,167,712
1990 $12,778,792,854 $13,362,340,338
1989 $10,037,674,038 $11,948,815,258
1988 $9,418,167,855 $10,722,799,639
1987 $8,320,902,215 $8,523,160,593
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/uzbekistan | CC BY

GDP per capita in Luxembourg vs Uzbekistan by year

Luxembourg
GDP per capita

GDP per capita, PPP
Uzbekistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Luxembourg Uzbekistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $137,782 $155,941 $3,162 $11,879
2023 $133,231 $150,508 $2,879 $11,107
2022 $123,720 $146,919 $2,579 $10,293
2021 $134,966 $136,772 $2,259 $9,248
2020 $116,860 $122,067 $1,978 $8,452
2019 $112,697 $121,372 $2,041 $8,544
2018 $116,927 $116,638 $1,813 $8,129
2017 $110,193 $114,986 $2,191 $7,818
2016 $106,899 $113,365 $2,753 $6,919
2015 $105,462 $107,860 $2,803 $6,800
2014 $123,679 $105,296 $2,675 $6,610
2013 $120,000 $100,925 $2,462 $6,413
2012 $112,585 $96,636 $2,307 $6,168
2011 $119,025 $94,475 $2,088 $5,949
2010 $110,886 $90,336 $1,753 $5,505
2009 $109,420 $86,919 $1,206 $5,135
2008 $120,422 $90,971 $1,075 $4,800
2007 $107,475 $85,126 $824 $4,386
2006 $90,789 $78,861 $649 $3,956
2005 $80,988 $68,788 $543 $3,618
2004 $76,545 $64,686 $462 $3,321
2003 $65,689 $60,192 $394 $3,047
2002 $53,006 $58,576 $381 $2,902
2001 $48,440 $56,136 $454 $2,782
2000 $48,660 $55,136 $555 $2,644
1999 $50,872 $49,845 $698 $2,522
1998 $47,445 $44,270 $621 $2,418
1997 $46,642 $42,488 $621 $2,329
1996 $50,444 $39,722 $597 $2,214
1995 $51,032 $38,345 $583 $2,178
1994 $43,933 $37,551 $574 $2,197
1993 $40,067 $35,899 $596 $2,318
1992 $39,571 $34,108 $603 $2,371
1991 $35,747 $33,191 $658 $2,676
1990 $33,465 $29,949 $653 $2,665
1989 $26,618 - $598 -
1988 $25,219 - $551 -
1987 $22,443 - $450 -
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/uzbekistan | CC BY

Luxembourg's GDP per capita is $137,782, ranking 3/197, compared to $3,162 in Uzbekistan, ranking 139/197. Adjusted for purchasing power (GDP per capita PPP), Luxembourg ranks 1st at $155,941, while Uzbekistan ranks 125th at $11,879.

Economic indicators

Luxembourg Uzbekistan
Gross domestic product
$93.3B
2024
$115B
2024
GDP rank
74/197
2024
66/197
2024
GDP growth
0.36%
2023-2024
6.5%
2023-2024
GDP per capita
$137,782
2024
$3,162
2024
GDP per capita rank
3/197
2024
139/197
2024
GDP per capita, PPP
$155,941
2024
$11,879
2024
GDP per capita PPP rank
1/197
2024
125/197
2024
Government debt
$24.5B
2024
$37.5B
2024
Debt-to-GDP ratio
26.3%
2024
32.7%
2024
Government debt per person
$36,221
2024
$1,032
2024
Government debt per person rank
19/185
2024
141/185
2024
Average annual personal income after taxes
$69,593
2026
$3,658
2026
Market capitalization of domestic companies
$41.9B
2024
$18.8B
2024
Number of billionaires
1
2025
n/a
Income share by richest 10%
25%
2023
25.7%
2024
Income share by poorest 10%
2.8%
2023
2.3%
2024
Government expenditure, % of GDP
46.9%
2024
27.6%
2024
Consumer prices inflation
2.05%
2023-2024
9.6%
2023-2024
Central bank interest rate n/a
14%
2025
Unemployment rate
6.42%
2024
5.29%
2020
Population
693885
37939105

Spending and national debt comparison by year

Luxembourg
Spending

Debt
Uzbekistan
Spending

Debt
1x
Year % of GDP
Luxembourg Uzbekistan
Government spending Government debt Government spending Government debt
2024 46.9% 26.3% 27.6% 32.7%
2023 46.4% 24.7% 29.9% 32.2%
2022 44.3% 24.9% 31.3% 30.5%
2021 42.4% 24.2% 27.4% 31.7%
2020 47% 24.5% 26% 33.7%
2019 43.1% 22.3% 24.4% 25.4%
2018 42.3% 20.9% 22.2% 17.5%
2017 41.3% 21.8% 19.9% 17.3%
2016 40% 19.6% 23.3% 8.19%
2015 40.4% 21.1% 24.6% 6.72%
2014 40.6% 21.9% 24.9% 6.09%
2013 41.2% 22.4% 25.2% 6.23%
2012 41.8% 20.8% 23.9% 6.76%
2011 41.5% 18.5% 23.7% 6.33%
2010 42% 19.1% 26.4% 6.61%
2009 42.7% 15.3% 27.5% 7.3%
2008 37.9% 14.6% 26.5% 8.33%
2007 37.4% 8.09% 24.8% 9.56%
2006 39.4% 8.21% 24.7% 13.5%
2005 43.4% 7.95% 28.1% 21%
2004 43.7% 7.83% 29.4% 26.9%
2003 43.3% 7.43% 31.5% 31.4%
2002 41.8% 7.45% 34.6% 41.6%
2001 38.1% 7.62% 30.6% 44.8%
2000 38% 7.49% 32.9% 29.5%
1999 41.7% 8.39% 33.6% 18.4%
1998 43.9% 9.51% 35.1% 18%
1997 44.2% 10.1% 31.8% 15.3%
1996 42.5% 10.2% 35.1% -
1995 42% 10.3% 29.4% -
1994 - - 27.1% -
1993 - - 39.6% -
1992 - - 18% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20).

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

In 2024, Luxembourg's government spending was $43.7B, accounting for 46.9% of its GDP, while Uzbekistan spent $31.7B, or 27.6% of GDP.

Debt-to-GDP ratio is 26.3% in Luxembourg and 32.7% in Uzbekistan, ranking 162/185 and 152/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Uzbekistan
1x
Year Deficit/surplus, % of GDP
Luxembourg Uzbekistan
2024 1.03% -2.37%
2023 -0.78% -4.03%
2022 0.18% -3.65%
2021 1% -4.1%
2020 -3.09% -2.95%
2019 2.68% -0.3%
2018 3.17% 1.64%
2017 1.37% 1.04%
2016 1.89% 0.7%
2015 1.3% -0.28%
2014 1.33% 1.9%
2013 0.84% 2.15%
2012 0.5% 5.89%
2011 0.65% 5.11%
2010 -0.26% 2.56%
2009 -0.21% 1.82%
2008 3.37% 5.97%
2007 4.35% 3.55%
2006 1.9% 2.72%
2005 -0.21% -3.52%
2004 -1.39% -3.74%
2003 0.28% -4.87%
2002 2.03% -6.31%
2001 5.62% -3.28%
2000 5.55% -3.66%
1999 3.24% -2.91%
1998 2.98% -3.04%
1997 2.65% -2.05%
1996 2.37% -1.57%
1995 2.71% -1.77%
1994 - -4.47%
1993 - -12%
1992 - 7.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1992–2024, retrieved 2026-02-20).

GeoRank.org/economy/luxembourg/uzbekistan | 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 Uzbekistan's deficit of $2.72B, or 2.37% of GDP.

Over the past 30 years, Luxembourg recorded a fiscal deficit in 6 of those years, while Uzbekistan ran a deficit in 18 years. On average, Luxembourg posted an annual surplus equal to 1.57% of GDP, compared to deficit of 0.64% of GDP for Uzbekistan.

Inflation comparison by year

Inflation
Luxembourg

Uzbekistan
1x
Year Consumer prices inflation
Luxembourg Uzbekistan
2024 2.05% 9.6%
2023 3.74% 10%
2022 6.34% 11.4%
2021 2.53% 10.8%
2020 0.82% 12.9%
2019 1.74% 14.5%
2018 1.53% 17.5%
2017 1.73% 13.9%
2016 0.29% 8.8%
2015 0.47% 8.5%
2014 0.63% 9.1%
2013 1.73% 11.7%
2012 2.66% 11.9%
2011 3.41% 12.4%
2010 2.27% 12.3%
2009 0.37% 12.3%
2008 3.4% 13.1%
2007 2.31% 11.2%
2006 2.67% 13.1%
2005 2.49% 10.7%
2004 2.23% 7.3%
2003 2.05% 12.5%
2002 2.07% 27.3%
2001 2.66% 27.3%
2000 3.15% 25%
1999 1.03% 29.1%
1998 0.96% 29%
1997 1.37% 70.9%

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/uzbekistan | CC BY

Over the past 28 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 16.6% in Uzbekistan. In 2024, inflation was 2.05% in Luxembourg and 9.6% in Uzbekistan.

Top exports between countries

Luxembourg
Export category Export value
Machinery & equipment $7.53M
Processed food, beverages & tobacco $393K
Miscellaneous $263K
Wood & paper products $224K
Chemicals & pharma $163K
Metals $62K
Raw materials & minerals $25K
Textiles & consumer goods $11K
Precious metals & jewellery $1K
Uzbekistan
Export category Export value
Raw materials & minerals $120K
Chemicals & pharma $79K
Machinery & equipment $69K
Textiles & consumer goods $51K
Precious metals & jewellery $24K
Raw agricultural goods $3K

Balance of trade

Luxembourg Uzbekistan
Current account balance
$4.1B
2024
-$5.71B
2024
Current account balance ranking
35/190
2024
169/190
2024
Current account balance, % of GDP
+4.4%
2024
-4.97%
2024
Goods imports
$29.4B
2024
$33.2B
2024
Goods exports
$31.3B
2024
$19.6B
2024
Service imports
$117B
2024
$10.5B
2024
Service exports
$150B
2024
$6.55B
2024
Imports of goods and services, % of GDP
159.7%
2024
38%
2024
Exports of goods and services, % of GDP
191.5%
2024
22.8%
2024

Economic freedom indices

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

Luxembourg Uzbekistan
Economic freedom 79.7 60.3
Economic freedom ranking 7/197 94/197
Property rights 96.6 43.1
Government integrity 88.7 32
Judicial effectiveness 99.1 13.7
Tax burden 62.3 95
Government spending 36.9 73.7
Fiscal health 98.6 79.9
Business freedom 89.5 62.5
Labor freedom 56.7 48.4
Monetary freedom 74.1 65.1
Trade freedom 79.4 80.6
Investment freedom 95 70
Financial freedom 80 60

Economic freedom comparison by year

Luxembourg
Uzbekistan
1x
Year Economic freedom index
Luxembourg Uzbekistan
2026 79.7 60.3
2025 79.5 58
2024 79.2 55.9
2023 78.4 56.5
2022 80.6 55.7
2021 76 58.3
2020 75.8 57.2
2019 75.9 53.3
2018 76.4 51.5
2017 75.9 52.3
2016 73.9 46
2015 73.2 47
2014 74.2 46.5
2013 74.2 46
2012 74.5 45.8
2011 76.2 45.8
2010 75.4 47.5
2009 75.2 50.5
2008 74.7 51.9
2007 74.6 51.5
2006 75.3 48.7
2005 76.3 45.8
2004 78.9 39.1
2003 79.9 38.3
2002 79.4 38.5
2001 80.1 38.2
2000 76.4 38.1
1999 72.4 33.8
1998 72.7 31.5
1997 72.8 -
1996 72.5 -

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

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

The Economic Freedom Index for Luxembourg is 79.7, ranking 7/197, compared to 60.3 for Uzbekistan, ranking 94/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Luxembourg Uzbekistan
Services, % of GDP
81.2%
2024
45.2%
2024
Industry, % of GDP
9.66%
2024
31.8%
2024
Agriculture, forestry, and fishing, % of GDP
0.21%
2024
18.3%
2024
GNI, Atlas method
$57.3B
2024
$110B
2024
GNI per capita, PPP
$110,650
2024
$12,000
2024
Total reserves including gold
$2.79B
2024
$41.2B
2024
Total reserves ranking
119/177
2024
50/177
2024
Net foreign direct investment
$21.4B
2024
-$2.81B
2024
Net inflows of foreign direct investment
$106B
2024
$2.99B
2024
Net outflows of foreign direct investment
$109B
2024
$36.7M
2024
Servicing debt to the IMF, % of GNI n/a
9.88%
2024
Poverty at national poverty lines
17.3%
2021
8.9%
2024
Gross capital formation, % of GDP
15.8%
2024
33.3%
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/uzbekistan | 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 (1992–2024, 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. 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.