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Economy of Luxembourg vs Yemen compared: GDP & Debt

Updated on by Georank team

Luxembourg has a GDP of $93.3B compared to $21.6B for Yemen, ranking 74/197 and 125/197 by economy size, respectively.

Luxembourg has $24.5B in government debt (26.3% of GDP), compared to $18.8B (70.9% of GDP) in Yemen.

Luxembourg vs Yemen GDP by year

Luxembourg
Yemen
1x
Year GDP, current $
Luxembourg Yemen
2024 $93,279,851,863 -
2023 $88,788,881,539 -
2022 $80,801,680,397 -
2021 $86,386,759,695 -
2020 $73,670,782,100 -
2019 $69,872,035,114 -
2018 $71,085,623,495 $21,606,160,663
2017 $65,712,180,343 $26,842,229,045
2016 $62,216,885,436 $31,317,825,274
2015 $60,071,584,216 $42,444,490,074
2014 $68,804,811,898 $43,228,585,321
2013 $65,203,276,467 $40,415,233,436
2012 $59,776,383,527 $35,401,331,610
2011 $61,696,281,326 $32,726,417,878
2010 $56,213,985,987 $30,906,749,533
2009 $54,467,289,898 $25,130,278,213
2008 $58,844,277,702 $26,910,855,807
2007 $51,587,401,416 $21,650,528,674
2006 $42,910,146,296 $19,063,143,370
2005 $37,672,280,120 $16,731,566,717
2004 $35,064,843,793 $13,867,634,371
2003 $29,667,268,248 $11,777,532,662
2002 $23,649,833,332 $10,693,430,511
2001 $21,387,533,703 $9,852,990,693
2000 $21,230,182,989 $9,679,316,770
1999 $21,899,317,599 $7,639,325,296
1998 $20,150,053,345 $6,322,175,566
1997 $19,563,836,265 $6,838,298,531
1996 $20,895,314,658 $6,496,163,616
1995 $20,853,093,870 $12,796,345,679
1994 $17,701,798,891 $28,019,483,764
1993 $15,925,521,222 $21,736,802,664
1992 $15,518,702,635 $17,959,367,194
1991 $13,834,219,728 $14,665,445,462
1990 $12,778,792,854 $12,643,821,569
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/yemen | CC BY

GDP per capita in Luxembourg vs Yemen by year

Luxembourg
GDP per capita

GDP per capita, PPP
Yemen
GDP per capita

GDP per capita, PPP
1x
Year Current $
Luxembourg Yemen
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $137,782 $155,941 - -
2023 $133,231 $150,508 - -
2022 $123,720 $146,919 - -
2021 $134,966 $136,772 - -
2020 $116,860 $122,067 - -
2019 $112,697 $121,372 - -
2018 $116,927 $116,638 $634 -
2017 $110,193 $114,986 $811 -
2016 $106,899 $113,365 $975 -
2015 $105,462 $107,860 $1,362 -
2014 $123,679 $105,296 $1,430 -
2013 $120,000 $100,925 $1,379 $3,164
2012 $112,585 $96,636 $1,245 $3,005
2011 $119,025 $94,475 $1,186 $3,113
2010 $110,886 $90,336 $1,155 $3,603
2009 $109,420 $86,919 $969 $3,411
2008 $120,422 $90,971 $1,072 $3,370
2007 $107,475 $85,126 $890 $3,294
2006 $90,789 $78,861 $810 $3,205
2005 $80,988 $68,788 $734 $3,113
2004 $76,545 $64,686 $628 $2,949
2003 $65,689 $60,192 $549 $2,844
2002 $53,006 $58,576 $513 $2,768
2001 $48,440 $56,136 $487 $2,702
2000 $48,660 $55,136 $493 $2,624
1999 $50,872 $49,845 $401 $2,492
1998 $47,445 $44,270 $343 $2,442
1997 $46,642 $42,488 $383 $2,351
1996 $50,444 $39,722 $375 $2,268
1995 $51,032 $38,345 $764 $2,201
1994 $43,933 $37,551 $1,735 $2,115
1993 $40,067 $35,899 $1,397 $2,013
1992 $39,571 $34,108 $1,198 $1,963
1991 $35,747 $33,191 $1,016 $1,843
1990 $33,465 $29,949 $910 $1,742
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/yemen | CC BY

Luxembourg's GDP per capita is $137,782, ranking 3/197, compared to $634 in Yemen, ranking 191/197. Adjusted for purchasing power (GDP per capita PPP), Luxembourg ranks 1st at $155,941, while Yemen ranks 178th at $3,164.

Economic indicators

Luxembourg Yemen
Gross domestic product
$93.3B
2024
$21.6B
2018
GDP rank
74/197
2024
125/197
2018
GDP growth
0.36%
2023-2024
0.75%
2017-2018
GDP per capita
$137,782
2024
$634
2018
GDP per capita rank
3/197
2024
191/197
2018
GDP per capita, PPP
$155,941
2024
$3,164
2013
GDP per capita PPP rank
1/197
2024
178/197
2013
Government debt
$24.5B
2024
$18.8B
2018
Debt-to-GDP ratio
26.3%
2024
70.9%
2024
Government debt per person
$36,221
2024
$551
2018
Government debt per person rank
19/185
2024
165/185
2018
Average annual personal income after taxes
$69,593
2026
$1,127
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
29.4%
2014
Income share by poorest 10%
2.8%
2023
3%
2014
Government expenditure, % of GDP
46.9%
2024
8.91%
2024
Consumer prices inflation
2.05%
2023-2024
33.9%
2023-2024
Unemployment rate
6.42%
2024
13.5%
2014
Population
693885
43325643

Spending and national debt comparison by year

Luxembourg
Spending

Debt
Yemen
Spending

Debt
1x
Year % of GDP
Luxembourg Yemen
Government spending Government debt Government spending Government debt
2024 46.9% 26.3% 8.91% 70.9%
2023 46.4% 24.7% 11.8% 77.9%
2022 44.3% 24.9% 12.2% 65.3%
2021 42.4% 24.2% 8.22% 75.9%
2020 47% 24.5% 10.6% 87%
2019 43.1% 22.3% 13.2% 91.5%
2018 42.3% 20.9% 14.3% 86.9%
2017 41.3% 21.8% 8.39% 83.8%
2016 40% 19.6% 16.1% 76.5%
2015 40.4% 21.1% 19.4% 57.7%
2014 40.6% 21.9% 27.8% 48.9%
2013 41.2% 22.4% 30.8% 48.4%
2012 41.8% 20.8% 36.2% 47.6%
2011 41.5% 18.5% 29.8% 45.7%
2010 42% 19.1% 30.2% 42.4%
2009 42.7% 15.3% 35.2% 49.8%
2008 37.9% 14.6% 41.2% 36.4%
2007 37.4% 8.09% 40.3% 40.4%
2006 39.4% 8.21% 37.4% 40.8%
2005 43.4% 7.95% 36.8% 43.8%
2004 43.7% 7.83% 34.2% 52.1%
2003 43.3% 7.43% 35.3% 56.8%
2002 41.8% 7.45% 30.8% 57.8%
2001 38.1% 7.62% 30.5% 60.6%
2000 38% 7.49% 31.7% 60.8%
1999 41.7% 8.39% 28.2% 96.1%
1998 43.9% 9.51% 34.3% 110.6%
1997 44.2% 10.1% 34.2% 74.2%
1996 42.5% 10.2% 30.7% 114.9%
1995 42% 10.3% 24.1% 84.1%
1994 - - 25.2% 73.3%
1993 - - 25.8% 76.7%
1992 - - 24.6% 78%
1991 - - 24.7% 82.7%
1990 - - 26.6% 91.6%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, retrieved 2026-02-20).

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

In 2024, Luxembourg's government spending was $43.7B, accounting for 46.9% of its GDP, while Yemen spent $3.08B, or 8.91% of GDP.

Debt-to-GDP ratio is 26.3% in Luxembourg and 70.9% in Yemen, ranking 162/185 and 55/185, respectively.

Government deficit by year

Deficit/surplus
Luxembourg

Yemen
1x
Year Deficit/surplus, % of GDP
Luxembourg Yemen
2024 1.03% -2.48%
2023 -0.78% -5.63%
2022 0.18% -2.15%
2021 1% -0.89%
2020 -3.09% -4.3%
2019 2.68% -5.89%
2018 3.17% -7.85%
2017 1.37% -4.9%
2016 1.89% -8.51%
2015 1.3% -8.75%
2014 1.33% -4.14%
2013 0.84% -6.9%
2012 0.5% -6.32%
2011 0.65% -4.51%
2010 -0.26% -4.06%
2009 -0.21% -10.2%
2008 3.37% -4.53%
2007 4.35% -7.18%
2006 1.9% 1.19%
2005 -0.21% -1.82%
2004 -1.39% -2.15%
2003 0.28% -4.2%
2002 2.03% -0.56%
2001 5.62% 2.79%
2000 5.55% 6.09%
1999 3.24% 0.06%
1998 2.98% -7.77%
1997 2.65% -1.5%
1996 2.37% -0.92%
1995 2.71% -5.74%
1994 - -14%
1993 - -12.8%
1992 - -10.9%
1991 - -5.76%
1990 - -10.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2018, Luxembourg's government surplus, the difference between spending and revenue, was $2.26B, equivalent to 3.17% of GDP. This compares to Yemen's deficit of $1.7B, or 7.85% of GDP.

Over the past 24 years, Luxembourg recorded a fiscal deficit in 4 of those years, while Yemen ran a deficit in 20 years. On average, Luxembourg posted an annual surplus equal to 1.92% of GDP, compared to deficit of 3.85% of GDP for Yemen.

Inflation comparison by year

Inflation
Luxembourg

Yemen
1x
Year Consumer prices inflation
Luxembourg Yemen
2024 2.05% 33.9%
2023 3.74% 0.9%
2022 6.34% 29.5%
2021 2.53% 31.5%
2020 0.82% 21.7%
2019 1.74% 15.7%
2018 1.53% 33.6%
2017 1.73% 30.4%
2016 0.29% 21.3%
2015 0.47% 22%
2014 0.63% 8.2%
2013 1.73% 11%
2012 2.66% 9.9%
2011 3.41% 19.5%
2010 2.27% 11.2%
2009 0.37% 3.7%
2008 3.4% 19%
2007 2.31% 7.9%
2006 2.67% 10.8%
2005 2.49% 9.9%
2004 2.23% 12.5%
2003 2.05% 10.8%
2002 2.07% 12.2%
2001 2.66% 11.9%
2000 3.15% 11%
1999 1.03% 7.9%
1998 0.96% 11.5%
1997 1.37% 4.6%

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/yemen | CC BY

Over the past 28 years, Luxembourg has recorded an average annual inflation rate of 2.1%, compared with 15.5% in Yemen. In 2024, inflation was 2.05% in Luxembourg and 33.9% in Yemen.

Top exports between countries

Luxembourg
Export category Export value
Machinery & equipment $1.66M
Raw materials & minerals $29K
Chemicals & pharma $14K
Miscellaneous $5K
Metals $1K
Textiles & consumer goods $1K
Wood & paper products $1K
Yemen
Export category Export value

Balance of trade

Luxembourg Yemen
Current account balance
$4.1B
2024
-$2.42B
2016
Current account balance ranking
35/190
2024
148/190
2016
Current account balance, % of GDP
+4.4%
2024
-7.72%
2016
Goods imports
$29.4B
2024
$6.8B
2016
Goods exports
$31.3B
2024
$473M
2016
Service imports
$117B
2024
$1.46B
2016
Service exports
$150B
2024
$466M
2016
Imports of goods and services, % of GDP
159.7%
2024
47.3%
2018
Exports of goods and services, % of GDP
191.5%
2024
8.76%
2018

Economic freedom indices

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

Luxembourg Yemen
Economic freedom 79.7 53.7
Economic freedom ranking 7/197 138/197
Property rights 96.6 3.5
Government integrity 88.7 6.2
Judicial effectiveness 99.1 9.9
Tax burden 62.3 93.7
Government spending 36.9 0
Fiscal health 98.6 71.2
Business freedom 89.5 31.3
Labor freedom 56.7 31.2
Monetary freedom 74.1 48.1
Trade freedom 79.4 67.4
Investment freedom 95 50
Financial freedom 80 30

Economic freedom comparison by year

Luxembourg
Yemen
1x
Year Economic freedom index
Luxembourg Yemen
2026 79.7 -
2025 79.5 -
2024 79.2 -
2023 78.4 -
2022 80.6 -
2021 76 -
2020 75.8 -
2019 75.9 -
2018 76.4 -
2017 75.9 -
2016 73.9 -
2015 73.2 53.7
2014 74.2 55.5
2013 74.2 55.9
2012 74.5 55.3
2011 76.2 54.2
2010 75.4 54.4
2009 75.2 56.9
2008 74.7 53.8
2007 74.6 54.1
2006 75.3 52.6
2005 76.3 53.8
2004 78.9 50.5
2003 79.9 50.3
2002 79.4 48.6
2001 80.1 44.3
2000 76.4 44.5
1999 72.4 43.3
1998 72.7 46.1
1997 72.8 48.4
1996 72.5 49.6
1995 - 49.8

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

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

The Economic Freedom Index for Luxembourg is 79.7, ranking 7/197, compared to 53.7 for Yemen, ranking 138/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Luxembourg Yemen
Services, % of GDP
81.2%
2024
41.8%
2018
Industry, % of GDP
9.66%
2024
25.4%
2018
Agriculture, forestry, and fishing, % of GDP
0.21%
2024
28.7%
2018
GNI, Atlas method
$57.3B
2024
$25.3B
2018
GNI per capita, PPP
$110,650
2024
$3,020
2013
Total reserves including gold
$2.79B
2024
$1.25B
2022
Total reserves ranking
119/177
2024
139/177
2022
Net foreign direct investment
$21.4B
2024
$15.4M
2015
Net inflows of foreign direct investment
$106B
2024
-$371M
2019
Net outflows of foreign direct investment
$109B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
0.53%
2018
Poverty at national poverty lines
17.3%
2021
48.6%
2014
Gross capital formation, % of GDP
15.8%
2024
6.18%
2018

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/yemen | 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 (1990–1998, retrieved 2026-02-20)
  6. TradeMap (2021–2024, 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.