Luxembourg | Economic Forecasts | 2017-2020 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 Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.10 0.5 0.7 0.7 0.7 0.6 percent [+]
Unemployment Rate 6.00 6 5.9 5.9 5.8 5.2 percent [+]
Inflation Rate 1.69 1.5 1.6 1.8 1.7 2.4 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -0.41 -0.49 -0.49 -0.49 -0.49 -0.49 EUR Billion [+]
Government Debt to GDP 20.00 20.49 20.13 19.77 19.62 18.77 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 1.12 1.1 1.09 1.08 1.07 0.89 [+]
Stock Market 1702.04 1670 1660 1610 1620 1350 points [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.10 0.5 0.7 0.7 0.7 0.6 percent [+]
GDP Annual Growth Rate 3.30 3.6 3.7 3.6 3.4 2.7 percent [+]
GDP 56.80 63.1 58.57 66.33 58.76 75.88 USD Billion [+]
GDP Constant Prices 12299.60 12862 12302 12860 12304 12846 EUR Million [+]
Gross Fixed Capital Formation 2337.80 2250 2253 2255 2260 2260 EUR Million [+]
GDP per capita 107035.96 107007 107191 107374 107706 110059 USD [+]
GDP per capita PPP 93899.66 93915 94399 94883 95089 96815 USD [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 6.00 6 5.9 5.9 5.8 5.2 percent [+]
Employed Persons 430379.00 430047 433206 435327 437789 464400 [+]
Unemployed Persons 16040.00 15690 16419 16758 16424 16435 [+]
Long Term Unemployment Rate 1.90 2.22 2.22 2.14 2.29 2.19 percent [+]
Youth Unemployment Rate 18.50 18.46 18.44 18.43 18.42 18.42 percent [+]
Labour Costs 102.35 110 111 110 110 111 Index Points [+]
Job Vacancies 4130.00 3908 3998 3908 3998 3908 Thousand [+]
Wages 4212.00 4262 4287 4312 4336 5029 EUR/Month [+]
Minimum Wages 1998.59 2001 1999 2003 2027 2103 EUR/Month [+]
Population 0.58 2.21 2.21 2.22 2.22 7.07 Million [+]
Retirement Age Women 65.00 65 65 65 65 65 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change 0.70 0.75 0.73 0.79 0.77 0.78 percent [+]
Employment Rate 66.50 66.16 65.89 66.16 65.95 66.06 percent [+]
Full Time Employment 211.00 212 212 214 215 224 Thousand [+]
Labor Force Participation Rate 59.50 59.35 59.36 59.33 59.33 59.34 percent [+]
Productivity 109.60 106 103 109 106 108 Index Points [+]
Wages In Manufacturing 114.10 109 108 108 108 108 Index Points [+]
Part Time Employment 50.90 51.04 52.61 52.77 52.08 57.57 Thousand [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 1.69 1.5 1.6 1.8 1.7 2.4 percent [+]
Harmonised Consumer Prices 102.11 103 102 103 102 103 Index Points [+]
Consumer Price Index CPI 102.12 103 102 103 102 103 Index Points [+]
Core Consumer Prices 102.65 103 103 103 103 103 Index Points [+]
Core Inflation Rate 1.40 1.31 1.31 1.31 1.31 1.31 percent [+]
GDP Deflator 111.10 111 111 112 111 111 Index Points [+]
Producer Prices 102.12 105 107 109 111 122 Index Points [+]
Cpi Transportation 100.64 101 101 101 101 101 Index Points [+]
Food Inflation 2.80 2.8 2.69 2.63 2.63 2.62 percent [+]
Inflation Rate Mom 0.08 0.67 -0.04 0.63 -0.06 0.51 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Money Supply M0 2.90 2.9 2.9 2.9 2.9 2.9 EUR Billion [+]
Money Supply M1 236.00 238 243 248 252 300 EUR Billion [+]
Money Supply M2 275.20 277 278 280 281 300 EUR Billion [+]
Money Supply M3 342.30 344 344 343 343 343 EUR Billion [+]
Foreign Exchange Reserves 835.98 840 844 844 844 844 EUR Million [+]
Banks Balance Sheet 1088644.00 1098698 1107385 1113920 1118875 1133688 EUR Million [+]
Loans to Private Sector 22391.00 22270 22223 22231 22230 22230 EUR Million [+]
Central Bank Balance Sheet 204658.00 206575 206531 206381 206313 206275 EUR Million [+]
Private Debt To Gdp 483.80 499 512 526 518 567 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -0.41 -0.49 -0.49 -0.49 -0.49 -0.49 EUR Billion [+]
Exports 1.06 1.06 1.06 1.05 1.05 1.05 EUR Billion [+]
Imports 1.63 1.57 1.56 1.56 1.56 1.56 EUR Billion [+]
Current Account 462.40 479 669 764 584 640 EUR Million [+]
Current Account to GDP 4.70 4.4 4.4 4.4 4 3.4 percent [+]
External Debt 3647945.81 415126 -56767 -163073 -134962 84438 EUR Million [+]
Capital Flows -33.98 248 330 323 256 288 EUR Million [+]
Remittances 16.00 18.4 18.86 18.29 18 18.32 EUR Million [+]
Gold Reserves 2.24 2.23 2.23 2.23 2.23 2.23 Tonnes [+]
Foreign Direct Investment -22.15 5067 13398 10727 9544 8362 EUR Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 20.00 20.49 20.13 19.77 19.62 18.77 percent [+]
Government Budget 1.60 0.8 1.21 0.6 1.14 1.3 percent of GDP [+]
Government Budget Value 647.80 436 327 219 197 456 EUR Million [+]
Government Spending 2011.90 2027 2036 2049 2060 2185 EUR Million [+]
Government Spending to GDP 41.20 41.74 41.75 41.75 41.89 42.41 percent [+]
Government Revenues 22295.30 22807 22980 23152 23365 26545 EUR Million [+]
Fiscal Expenditure 21647.50 21944 22108 22271 22438 24745 EUR Million [+]
Asylum Applications 225.00 239 232 238 233 235 persons [+]
Military Expenditure 293.50 279 284 289 292 306 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 112.30 113 113 113 113 113 [+]
Industrial Production 1.09 -0.1 -0.12 0 0.07 0.13 percent [+]
Manufacturing Production -4.20 -3.43 -3.7 -3.74 -3.74 -3.74 percent [+]
Capacity Utilization 82.10 81.86 82.09 81.36 81.42 81.54 percent [+]
New Orders 83.40 89.77 92.28 89.89 92.17 90.4 Index Points [+]
Changes in Inventories 0.97 0.58 0.65 0.72 0.76 0.77 EUR Billion [+]
Bankruptcies 0.75 -73.76 -191 -308 -350 -644 Companies [+]
Car Registrations 5535.00 5228 3895 4129 4335 4218 Cars [+]
Competitiveness Index 5.20 5.2 5.2 5.2 5.19 5.19 Points [+]
Competitiveness Rank 20.00 20 20 20 20 18 [+]
Ease of Doing Business 59.00 58 58 59 58 58 [+]
Electricity Production 42.00 44.99 54.07 54.37 52.37 52.85 Gigawatt-hour [+]
Corruption Index 81.00 81 82 83 82 82 Points [+]
Corruption Rank 10.00 10 10 10 9 9 [+]
Steel Production 195.00 179 199 183 200 183 Thousand Tonnes [+]
Mining Production -21.40 -17.98 -19.14 -18.81 -18.88 -18.87 percent [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 16.60 15.97 16.39 16.14 16.24 16.21 [+]
Retail Sales Mom 1.40 1.1 0.86 3 0.89 2.4 percent [+]
Retail Sales Yoy 10.10 9.47 9.55 9.56 9.59 9.6 percent [+]
Consumer Spending 3554.00 3576 3579 3599 3612 3770 EUR Million [+]
Personal Savings 17.39 19.18 19.55 19.92 19.53 18.98 percent [+]
Consumer Credit 1640.00 1647 1651 1651 1651 1651 EUR Million [+]
Bank Lending Rate 1.79 1.79 1.8 1.8 1.8 1.8 percent [+]
Gasoline Prices 1.30 1.32 1.34 1.33 1.33 1.33 USD/Liter [+]
Households Debt To Gdp 58.60 58.93 59.41 59.73 60.05 63.22 percent of GDP [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output -0.10 -0.89 -0.07 0.33 0.45 0.53 percent [+]
Housing Index 135.76 139 141 142 144 162 Index points [+]
Building Permits 476.00 393 394 393 393 393 [+]
Home Ownership Rate 73.20 71.66 71.41 71.15 70.55 72.14 percent [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 29.22 29.27 29.31 29.34 29.34 29.38 percent [+]
Personal Income Tax Rate 43.60 44.04 44.2 44.35 44.22 44.06 percent [+]
Sales Tax Rate 17.00 17 17 17 17 17 percent [+]
Social Security Rate 25.62 25.5 25.56 25.62 25.58 26.05 percent [+]
Social Security Rate For Companies 12.67 12.76 12.75 12.73 12.7 12.8 percent [+]
Social Security Rate For Employees 12.95 12.8 12.84 12.88 12.87 13.1 percent [+]