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 Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 2.00 1.2 0.7 0.9 0.6 0.6 percent
Unemployment Rate 5.50 5.4 5.6 5.4 5.3 5.2 percent
Inflation Rate 1.62 1.2 1.4 1.7 1.8 1.8 percent
Interest Rate 0.00 0 0 0 0 0.75 percent
Balance of Trade -0.51 -0.48 -0.62 -0.67 -0.37 -0.94 EUR Billion
Government Debt to GDP 23.00 21.5 21.5 20 20 19 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 1.18
1.16 1.15 1.15 1.14 1.12
Stock Market 1687.96
points
1676 1652 1629 1605 1516
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 2.00
percent
1.2 0.7 0.9 0.6 0.6
GDP Annual Growth Rate 5.10
percent
3.4 3.2 4 3.6 2.7
GDP 62.40
USD Billion
69.4 69.4 72.1 72.1 74.5
GDP Constant Prices 12596.40
EUR Million
12552 12751 13100 12558 13475
Gross Fixed Capital Formation 2222.60
EUR Million
2045 2167 2312 2334 2290
GDP per capita 107865.27
USD
108500 108500 109000 109000 109500
GDP per capita PPP 94277.97
USD
95600 95600 97000 97000 98000
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 5.50
percent
5.4 5.6 5.4 5.3 5.2
Employed Persons 447430.00
449330 452350 454974 457368 482634
Unemployed Persons 14936.00
16004 16330 15757 15676 15866
Long Term Unemployment Rate 1.50
percent
1.63 1.62 1.63 1.67 1.64
Youth Unemployment Rate 13.30
percent
13.17 12.83 12.7 12.65 12.61
Labour Costs 98.34
Index Points
101 101 101 101 101
Wages 5301.25
EUR/Month
5100 5100 5150 5499 5200
Minimum Wages 1998.59
EUR/Month
1999 1999 2050 2050 2100
Population 0.60
Million
0.6 0.6 0.61 0.61 0.62
Retirement Age Women 65.00
65 65 65 65 65
Retirement Age Men 65.00
65 65 65 65 65
Part Time Employment 50.90
Thousand
53.45 53.7 53.49 54.4 58.94
Productivity 99.70
Index Points
98.95 103 99.19 101 101
Wages In Manufacturing 102.90
Index Points
104 104 104 104 104
Labor Force Participation Rate 59.90
percent
59.68 59.77 59.74 59.73 59.74
Full Time Employment 226.50
Thousand
226 227 229 231 244
Employment Change 1.00
percent
0.86 0.88 0.85 0.86 0.81
Employment Rate 67.20
percent
67.04 66.86 67.01 66.9 66.94
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 1.62
percent
1.2 1.4 1.7 1.8 1.8
Harmonised Consumer Prices 105.06
Index Points
104 104 105 106 108
Consumer Price Index CPI 104.34
Index Points
104 104 105 106 108
Core Consumer Prices 104.08
Index Points
104 103 104 104 104
Core Inflation Rate 0.80
percent
0.54 0.54 0.54 0.54 0.54
GDP Deflator 114.52
Index Points
114 116 114 115 115
Producer Prices 104.46
Index Points
105 106 107 107 111
Producer Prices Change 4.30
percent
3.6 3.4 2.8 2.5 2
Inflation Rate Mom 1.36
percent
-0.11 0.7 0.03 0.75 0.68
Food Inflation 2.12
percent
2.03 2.06 2.04 2.04 2.04
Cpi Housing Utilities 103.51
Index Points
104 104 104 104 104
CPI Transportation 103.96
Index Points
102 103 103 105 107
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 0.00
percent
0 0 0 0 0.75
Money Supply M0 3.10
EUR Billion
3.08 3.08 3.08 3.08 3.08
Money Supply M1 253.40
EUR Billion
250 253 257 261 296
Money Supply M2 295.60
EUR Billion
289 291 293 295 313
Money Supply M3 361.30
EUR Billion
355 355 355 355 355
Foreign Exchange Reserves 782.25
EUR Million
773 775 774 774 774
Banks Balance Sheet 1051360.00
EUR Million
1053429 1055659 1057353 1058622 1062183
Loans to Private Sector 25746.00
EUR Million
25648 25652 25653 25653 25653
Private Debt To Gdp 483.88
percent
484 485 483 480 448
Central Bank Balance Sheet 242864.00
EUR Million
219691 219888 219923 219928 219927
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade -0.51
EUR Billion
-0.48 -0.62 -0.67 -0.37 -0.94
Exports 1.11
EUR Billion
1.08 0.98 1.19 1.3 1.06
Imports 1.62
EUR Billion
1.56 1.6 1.86 1.67 2
Current Account -897.40
EUR Million
2800 1500 -470 -400 1400
Current Account to GDP 5.00
percent
4 4 3.7 3.7 3.4
External Debt 3698869.28
EUR Thousand
3527997 3530580 3532227 3532592 3533134
Capital Flows -988.14
EUR Million
1103 722 540 335 597
Gold Reserves 2.20
Tonnes
2.2 2.2 2.2 2.2 2.2
Foreign Direct Investment -13661.20
EUR Million
-107482 -84324 -89462 -90749 -68163
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 23.00
percent
21.5 21.5 20 20 19
Government Budget 1.50
percent of GDP
2 2 2.2 2.2 2.5
Government Budget Value 839.20
EUR Million
773 761 739 761 950
Government Spending 2067.20
EUR Million
2050 2100 2150 2084 2219
Government Spending to GDP 42.90
percent
42.5 42.5 42.2 42.2 42
Government Revenues 24571.40
EUR Million
25158 25528 25767 26005 28376
Fiscal Expenditure 23732.20
EUR Million
24385 24811 25027 25244 27425
Military Expenditure 293.50
USD Million
284 289 291 293 301
Asylum Applications 140.00
persons
143 146 144 146 145
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 107.70
Index Points
114 110 109 108 105
Industrial Production 4.90
percent
1.27 0.7 0.44 0.32 0.22
Manufacturing Production -3.00
percent
4.34 4.36 4.36 4.36 4.36
Capacity Utilization 80.80
percent
81.78 81.44 81.47 81.58 81.6
Changes in Inventories 0.39
EUR Billion
0.1 0.09 0.07 0.04 0.07
Bankruptcies 904.00
Companies
945 940 940 941 935
Car Registrations 4931.00
4170 4293 4538 4430 4430
Internet Speed 11591.05
KBps
12850 13129 13330 13464 14747
IP Addresses 178495.00
IP
187730 189773 189484 190817 196168
Steel Production 190.00
Thousand Tonnes
197 184 195 184 185
Mining Production -5.30
percent
-1.31 -3.27 -3.21 -3.13 -3.14
Competitiveness Index 5.23
Points
5.2 5.2 5.22 5.23 5.23
Competitiveness Rank 19.00
21 21 20 20 21
Ease of Doing Business 63.00
60 60 60 60 64
Electricity Production 33.00
Gigawatt-hour
50.93 54.19 52.49 52.16 52.49
Corruption Index 82.00
Points
82 81 81 81 82
Corruption Rank 8.00
8 7 7 8 8
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence 13.60
Index Points
14.1 13.5 14.6 15.2 12.8
Retail Sales Mom 0.00
percent
-0.3 0.6 -0.93 -0.93 0.4
Retail Sales Yoy 0.60
percent
4.4 3.6 3.2 3 2.5
Consumer Spending 3728.00
EUR Million
3720 3820 3877 3760 4037
Personal Savings 20.44
percent
20.29 20.48 20.47 20.47 20.42
Consumer Credit 1719.00
EUR Million
1721 1720 1720 1720 1720
Households Debt To Gdp 66.40
percent of GDP
66.42 66.43 66.4 66.4 66.39
Gasoline Prices 1.34
USD/Liter
1.37 1.29 1.22 1.15 0.91
Bank Lending Rate 1.72
percent
1.72 1.72 1.72 1.72 2.47
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Construction Output 3.50
percent
1.69 1.21 1.03 0.97 0.92
Housing Index 116.68
Index points
119 119 120 121 121
Home Ownership Rate 73.90
percent
73.65 73.4 73.39 73.38 73.37
Building Permits 277.00
394 394 394 394 394
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 27.08
percent
27.08 27.08 27 27 27
Personal Income Tax Rate 48.78
percent
48.78 48.78 49 49 53
Sales Tax Rate 17.00
percent
17 17 17 17 17
Social Security Rate 25.12
percent
25.12 25.12 25.75 26 26
Social Security Rate For Companies 12.67
percent
12.58 12.58 12.88 12.98 13.02
Social Security Rate For Employees 12.45
percent
12.51 12.51 12.68 12.73 12.57
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Temperature 18.46
celsius
16.52 5.32 2.38 11.86 9.39