Luxembourg - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Luxembourg including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Luxembourg economy.


Overview Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 1.70 0.7 0.6 0.6 0.7 0.6 percent
Unemployment Rate 5.60 5.8 5.8 5.7 5.6 5.2 percent
Inflation Rate 1.14 2.2 2.1 2 2.2 2.4 percent
Interest Rate 0.00 0 0 0 0.25 0.75 percent
Balance of Trade -0.53 -0.47 -0.45 -0.43 -0.42 -0.36 EUR Billion
Government Debt to GDP 20.00 19.2 19.2 19.2 19.2 18.7 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 1.23
1.21 1.19 1.17 1.15 1.07
Stock Market 1636.08
points
1654 1584 1517 1454 1030
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 1.70
percent
0.7 0.6 0.6 0.7 0.6
GDP Annual Growth Rate 3.20
percent
3.8 3.7 3.4 3.2 2.7
GDP 59.95
USD Billion
59.42 61.05 62.67 69.38 75.88
GDP Constant Prices 12037.30
EUR Million
12100 12340 12075 12292 12116
Gross Fixed Capital Formation 2048.10
EUR Million
2127 2099 2071 2079 1955
GDP per capita 111000.96
USD
114150 114150 114150 114150 116230
GDP per capita PPP 97018.66
USD
96259 96952 97646 98339 98977
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 5.60
percent
5.8 5.8 5.7 5.6 5.2
Employed Persons 439760.00
440313 439531 439585 439517 438886
Unemployed Persons 16599.00
16423 16347 16278 16211 15435
Long Term Unemployment Rate 2.00
percent
2.18 2.13 2.13 2.13 2.03
Youth Unemployment Rate 14.80
percent
14.73 14.64 14.54 14.43 13.24
Labour Costs 108.32
Index Points
110 110 111 111 111
Wages 5030.10
EUR/Month
5100 5100 5100 5100 5200
Minimum Wages 1998.59
EUR/Month
1999 1999 1999 1999 2100
Population 0.59
Million
0.6 0.6 0.6 0.6 0.63
Retirement Age Women 65.00
64 64 64 64 65
Retirement Age Men 65.00
64 64 64 64 65
Part Time Employment 52.40
Thousand
52.72 52.26 52.41 51.96 51.76
Productivity 99.60
Index Points
102 103 101 102 101
Wages In Manufacturing 113.90
Index Points
104 105 104 105 105
Labor Force Participation Rate 59.90
percent
59.42 59.53 59.48 59.43 59.11
Full Time Employment 218.30
Thousand
217 217 216 216 215
Employment Change 0.70
percent
0.75 0.79 0.77 0.79 0.79
Employment Rate 67.00
percent
66.66 66.47 66.51 66.44 65.98
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 1.14
percent
2.2 2.1 2 2.2 2.4
Harmonised Consumer Prices 101.90
Index Points
102 102 102 102 102
Consumer Price Index CPI 101.53
Index Points
102 102 102 102 101
Core Consumer Prices 102.76
Index Points
103 103 103 103 103
Core Inflation Rate 1.20
percent
1.27 1.33 1.37 1.41 1.6
GDP Deflator 111.34
Index Points
111 112 111 111 111
Producer Prices 105.14
Index Points
111 111 106 113 122
Producer Prices Change 5.10
percent
5.17 4.59 3.88 3.26 2.23
Inflation Rate Mom -0.86
percent
0.16 0.13 0.15 0.15 0.15
Food Inflation 1.84
percent
1.57 1.55 1.66 1.77 2.14
CPI Transportation 102.17
Index Points
102 102 102 102 101
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 0.00
percent
0 0 0 0.25 0.75
Money Supply M0 3.00
EUR Billion
2.99 2.99 2.98 2.98 2.92
Money Supply M1 232.80
EUR Billion
238 238 238 237 235
Money Supply M2 277.80
EUR Billion
280 280 279 279 274
Money Supply M3 339.50
EUR Billion
338 336 333 331 308
Foreign Exchange Reserves 719.78
EUR Million
718 711 709 703 657
Banks Balance Sheet 1059959.00
EUR Million
1062038 1060932 1059412 1057862 1041808
Loans to Private Sector 23953.00
EUR Million
23847 23780 23713 23646 22871
Private Debt To Gdp 483.88
percent
482 483 484 485 448
Central Bank Balance Sheet 207892.00
EUR Million
207789 207235 206575 205882 197635
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade -0.53
EUR Billion
-0.47 -0.45 -0.43 -0.42 -0.36
Exports 1.08
EUR Billion
1.06 1.05 1.04 1.04 0.97
Imports 1.62
EUR Billion
1.55 1.53 1.52 1.51 1.38
Current Account 2246.50
EUR Million
185 515 1179 570 641
Current Account to GDP 4.80
percent
4 4 4 4 3.4
External Debt 3537486.24
EUR Thousand
3409510 3372651 3343422 3318121 3070205
Capital Flows 2159.16
EUR Million
83.35 569 1049 628 627
Gold Reserves 2.24
Tonnes
2.24 2.24 2.24 2.24 2.24
Foreign Direct Investment -225137.56
EUR Million
-20162 -24809 36700 5531 42640
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 20.00
percent
19.2 19.2 19.2 19.2 18.7
Government Budget 1.60
percent of GDP
2 2 2 2 2.5
Government Budget Value 844.80
EUR Million
678 677 675 674 529
Government Spending 2004.40
EUR Million
2014 2017 2020 2021 2013
Government Spending to GDP 41.20
percent
41.67 41.69 41.71 41.73 42.3
Government Revenues 23147.00
EUR Million
23194 23391 23588 23785 25065
Fiscal Expenditure 22302.30
EUR Million
22311 22485 22658 22831 23774
Military Expenditure 293.50
USD Million
273 278 282 286 282
Asylum Applications 185.00
persons
148 143 141 140 139
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Business Confidence 113.40
Index Points
112 110 108 107 102
Industrial Production -2.33
percent
0.44 0.24 0.19 0.18 0.17
Manufacturing Production 6.90
percent
3.52 2.78 2.26 1.93 1.4
Capacity Utilization 83.10
percent
81.09 83.01 82.57 82.14 79.85
Changes in Inventories 0.30
EUR Billion
0.15 0.13 0.11 0.09 0.1
Bankruptcies 961.00
Companies
885 912 940 967 907
Car Registrations 3968.00
3385 3345 3338 3338 3338
Internet Speed 11591.05
KBps
12309 12346 12399 12379 10810
IP Addresses 178495.00
IP
180473 180697 179870 179635 175078
Steel Production 200.00
Thousand Tonnes
201 203 208 212 239
Mining Production 5.90
percent
-2.86 -3.76 -3.91 -3.95 -3.96
Competitiveness Index 5.23
Points
5.19 5.19 5.19 5.19 5.13
Competitiveness Rank 19.00
21 21 21 21 21
Ease of Doing Business 63.00
57 56 56 56 58
Electricity Production 55.00
Gigawatt-hour
109 132 147 157 176
Corruption Index 81.00
Points
81 81 82 83 84
Corruption Rank 10.00
11 11 11 10 11
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Consumer Confidence 19.10
Index Points
17.91 17.49 16.97 16.54 12.39
Retail Sales Mom -6.20
percent
-0.2 0.4 -0.3 0.6 0.4
Retail Sales Yoy -0.40
percent
-4.01 -2.91 -2.38 -2.01 -0.6
Consumer Spending 3642.20
EUR Million
3647 3647 3646 3645 3612
Personal Savings 20.44
percent
19.81 19.89 19.97 20.06 19.09
Consumer Credit 1553.00
EUR Million
1541 1532 1524 1516 1430
Households Debt To Gdp 63.30
percent of GDP
64.83 64.85 64.79 64.71 63.54
Gasoline Prices 1.49
USD/Liter
1.53 1.54 1.53 1.53 1.44
Bank Lending Rate 1.75
percent
1.82 1.92 2.01 2.1 2.74
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Construction Output 0.40
percent
0.94 0.87 0.79 0.77 0.75
Housing Index 112.32
Index points
114 114 115 115 112
Home Ownership Rate 73.90
percent
73.1 73.22 73.34 73.45 72.72
Building Permits 291.00
329 329 329 329 329
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 27.08
percent
27 27 27 27 28
Personal Income Tax Rate 48.78
percent
49 49 49 49 49
Sales Tax Rate 17.00
percent
17 17 17 17 16
Social Security Rate 25.12
percent
25 25 25 25 25
Social Security Rate For Companies 12.67
percent
12.68 12.68 12.68 12.68 12.71
Social Security Rate For Employees 12.45
percent
12.46 12.46 12.46 12.46 12.49
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Temperature 18.46
celsius
2.38 12.53 16.52 5.32 9.39