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 Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate -0.10 0.6 0.6 0.7 0.9 0.6 percent
Unemployment Rate 5.60 5.8 5.7 5.6 5.5 5.2 percent
Inflation Rate 1.07 2.1 2 2.2 2.3 2.4 percent
Interest Rate 0.00 0 0 0 0.25 0.75 percent
Balance of Trade -0.49 -0.55 -0.48 -0.62 -0.67 -0.94 EUR Billion
Government Debt to GDP 23.00 21.5 21.5 21.5 20 19 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Currency 1.17
1.21 1.19 1.17 1.15 1.08
Stock Market 1635.47
points
1440 1381 1325 1271 1077
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate -0.10
percent
0.6 0.6 0.7 0.9 0.6
GDP Annual Growth Rate 1.60
percent
3.7 3.4 3.2 3.7 2.7
GDP 59.95
USD Billion
61.8 62.6 69.38 72.14 75.88
GDP Constant Prices 12826.80
EUR Million
12419 12229 13237 12212 13989
Gross Fixed Capital Formation 2072.20
EUR Million
2287 2047 2139 2333 2260
GDP per capita 111000.96
USD
114150 114150 114150 115370 116230
GDP per capita PPP 97018.66
USD
96952 97646 98339 99152 98977
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 5.60
percent
5.8 5.7 5.6 5.5 5.2
Employed Persons 446411.00
446213 449418 451545 454116 481432
Unemployed Persons 15369.00
14984 15539 15899 15648 15631
Long Term Unemployment Rate 1.80
percent
2.2 2.2 2.2 2.2 2.2
Youth Unemployment Rate 13.90
percent
14.51 14.66 14.76 14.82 14.96
Labour Costs 94.69
Index Points
109 94.82 109 114 110
Wages 5030.10
EUR/Month
5100 5100 5100 5150 5200
Minimum Wages 1998.59
EUR/Month
1999 1999 1999 2050 2100
Population 0.59
Million
0.6 0.6 0.6 0.6 0.63
Retirement Age Women 65.00
65 65 65 65 65
Retirement Age Men 65.00
65 65 65 65 65
Part Time Employment 51.60
Thousand
52.08 52.19 52.15 52.16 52.16
Productivity 104.60
Index Points
103 100 103 101 102
Wages In Manufacturing 96.60
Index Points
102 110 126 118 117
Labor Force Participation Rate 59.20
percent
59.24 59.55 59.28 59.52 59.38
Full Time Employment 217.10
Thousand
217 217 217 217 217
Employment Change 1.10
percent
0.75 0.75 0.75 0.75 0.75
Employment Rate 66.30
percent
66.45 66.45 66.45 66.45 66.45
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 1.07
percent
2.1 2 2.2 2.3 2.4
Harmonised Consumer Prices 103.60
Index Points
104 104 105 106 110
Consumer Price Index CPI 103.13
Index Points
104 104 105 105 110
Core Consumer Prices 103.20
Index Points
104 104 104 104 105
Core Inflation Rate 0.70
percent
0.81 0.81 0.81 0.81 0.81
GDP Deflator 116.43
Index Points
114 113 114 113 113
Producer Prices 103.97
Index Points
104 103 105 106 109
Producer Prices Change 3.90
percent
2.4 2.1 1.9 1.5 2
Inflation Rate Mom 0.22
percent
0.12 0.14 0.14 0.14 0.14
Food Inflation 2.38
percent
3.19 2.14 2.62 2.64 2.53
CPI Transportation 102.25
Index Points
102 103 104 104 109
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Interest Rate 0.00
percent
0 0 0 0.25 0.75
Money Supply M0 3.00
EUR Billion
2.99 2.99 2.99 2.99 2.99
Money Supply M1 240.40
EUR Billion
248 252 256 260 301
Money Supply M2 284.50
EUR Billion
289 291 293 294 315
Money Supply M3 344.20
EUR Billion
351 351 351 351 351
Foreign Exchange Reserves 731.49
EUR Million
784 787 789 790 790
Banks Balance Sheet 1036047.00
EUR Million
1095099 1056696 1036701 1061339 1089701
Loans to Private Sector 24810.00
EUR Million
24158 24162 24162 24162 24162
Private Debt To Gdp 483.88
percent
483 484 485 483 448
Central Bank Balance Sheet 212881.00
EUR Million
202663 207144 204798 203475 204831
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade -0.49
EUR Billion
-0.55 -0.48 -0.62 -0.67 -0.94
Exports 1.04
EUR Billion
1.1 1.08 0.98 1.19 1.06
Imports 1.53
EUR Billion
1.65 1.56 1.6 1.86 2
Current Account 1044.70
EUR Million
1156 1649 1234 1583 1400
Current Account to GDP 5.00
percent
4 4 4 3.7 3.4
External Debt 3492502.55
EUR Thousand
3559461 3560271 3560187 3560195 3560195
Capital Flows 979.15
EUR Million
55.61 1245 783 309 604
Gold Reserves 2.20
Tonnes
2.2 2.21 2.21 2.21 2.22
Foreign Direct Investment -137016.94
EUR Million
-103682 -84877 -94660 -89570 -91314
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 23.00
percent
21.5 21.5 21.5 20 19
Government Budget 1.50
percent of GDP
2 2 2 2.2 2.5
Government Budget Value 839.20
EUR Million
779 874 895 937 533
Government Spending 2027.80
EUR Million
2048 2053 2093 2073 2212
Government Spending to GDP 42.90
percent
42.5 42.5 42.5 42.2 42
Government Revenues 24571.40
EUR Million
23501 23766 24031 24191 26599
Fiscal Expenditure 23732.20
EUR Million
22722 22892 23062 23254 26066
Military Expenditure 293.50
USD Million
279 284 289 291 301
Asylum Applications 185.00
persons
180 179 179 179 179
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Business Confidence 109.10
Index Points
112 113 112 113 112
Industrial Production 7.20
percent
0.41 0.41 0.41 0.41 0.41
Manufacturing Production 5.10
percent
2.83 2.62 2.34 2.28 2.35
Capacity Utilization 82.00
percent
81 81.6 81.43 81.48 81.47
Changes in Inventories 0.30
EUR Billion
0.13 0.11 0.09 0.07 0.12
Bankruptcies 904.00
Companies
917 949 981 992 1008
Car Registrations 4565.00
4542 4543 4543 4543 4543
Internet Speed 11591.05
KBps
12346 12399 12379 12314 10810
IP Addresses 178495.00
IP
188798 187730 189773 189484 196168
Steel Production 205.00
Thousand Tonnes
180 193 182 193 183
Mining Production -15.70
percent
-13.89 -13.52 -13.59 -13.42 -13.23
Competitiveness Index 5.23
Points
5.21 5.21 5.21 5.21 5.21
Competitiveness Rank 19.00
19 19 19 19 19
Ease of Doing Business 63.00
63 63 63 63 63
Electricity Production 64.00
Gigawatt-hour
56.83 53.76 52.12 51.24 50.23
Corruption Index 82.00
Points
82 82 82 82 82
Corruption Rank 8.00
8 8 8 8 8
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Consumer Confidence 14.30
Index Points
14.71 14.07 13.6 13.16 9.39
Retail Sales Mom 0.30
percent
0.4 -0.3 0.6 0.11 0.4
Retail Sales Yoy 1.60
percent
-27.04 -16.15 -12.82 -18.02 -17.08
Consumer Spending 3695.50
EUR Million
3693 3715 3814 3734 4030
Personal Savings 20.44
percent
20.1 20.29 20.48 20.47 20.42
Consumer Credit 1698.00
EUR Million
1672 1678 1674 1676 1676
Households Debt To Gdp 67.40
percent of GDP
68.67 69 69.42 69.77 73.97
Gasoline Prices 1.38
USD/Liter
1.38 1.3 1.23 1.16 0.81
Bank Lending Rate 1.66
percent
1.66 1.66 1.66 1.91 2.41
HOUSING Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Construction Output -7.70
percent
0.75 1.75 1.23 1.11 1.03
Housing Index 113.57
Index points
114 115 115 115 112
Home Ownership Rate 73.90
percent
73.91 73.65 73.4 73.39 73.37
Building Permits 371.00
330 330 330 330 330
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 27.08
percent
27.08 27.08 27.08 27 27
Personal Income Tax Rate 48.78
percent
48.78 48.78 48.78 49 49
Sales Tax Rate 17.00
percent
17 17 17 17 17
Social Security Rate 25.12
percent
25.12 25.12 25.12 25 25
Social Security Rate For Companies 12.67
percent
12.67 12.67 12.67 12.67 12.67
Social Security Rate For Employees 12.45
percent
12.45 12.45 12.45 12.53 12.54
CLIMATE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Temperature 18.46
celsius
12.53 16.52 5.32 2.38 9.39