Luxembourg’s economy expanded by 1.2 percent quarter-over-quarter in the three months to March of 2022, following an upwardly revised 1 percent growth in the previous period and marking the seventh consecutive period of expansion. The main positive contribution came from an increase in household consumption (1.8 percent vs 0.4 percent in Q4), while government expenditure rose at a slower pace (0.3 percent vs 2.3 percent). At the same time, net external demand was seen higher, as exports (-1.1 percent vs 1.9 percent) fell less than imports (-3.1 percent vs 4.2 percent). On the other hand, a steep contraction was seen for gross fixed capital formation (-2.3 percent vs 7.4 percent). On an annual basis, the GDP rose 4 percent, slowing from an upwardly revised 4.9 percent expansion in the previous quarter. source: STATEC, Luxembourg

GDP Growth Rate in Luxembourg averaged 0.86 percent from 1995 until 2022, reaching an all time high of 8 percent in the third quarter of 2020 and a record low of -6.20 percent in the second quarter of 2020. This page provides - Luxembourg GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Luxembourg GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

GDP Growth Rate in Luxembourg is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Luxembourg GDP Growth Rate is projected to trend around 0.80 percent in 2023 and 1.00 percent in 2024, according to our econometric models.

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Luxembourg GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-14 10:00 AM Q4 0.5% 0.5% 0.5%
2022-06-14 10:00 AM Q1 1.2% 1% 0.6%
2022-09-14 10:00 AM Q2 1.2% 0.5%


Related Last Previous Unit Reference
GDP Growth Rate 1.20 1.00 percent Mar 2022
GDP Annual Growth Rate 4.00 4.90 percent Mar 2022
GDP Constant Prices 16345.40 16022.90 EUR Million Mar 2022
Gross Fixed Capital Formation 2916.00 3078.80 EUR Million Mar 2022

Luxembourg GDP Growth Rate
The economy of Luxembourg is dependent on the banking, steel, and industrial sectors and the country has one of the highest GDP per capita in the world. On the expenditure side, external balance of exports and imports is the main component of GDP and accounts for 35 percent of its total use, as exports of goods and services account for 200 percent while imports account for 165 percent. It is followed by household consumption (30 percent of GDP) gross fixed capital formation (18 percent) and government expenditure (17 percent).
Actual Previous Highest Lowest Dates Unit Frequency
1.20 1.00 8.00 -6.20 1995 - 2022 percent Quarterly
SA

News Stream
Luxembourg GDP Growth Picks Up in Q1
Luxembourg’s economy expanded by 1.2 percent quarter-over-quarter in the three months to March of 2022, following an upwardly revised 1 percent growth in the previous period and marking the seventh consecutive period of expansion. The main positive contribution came from an increase in household consumption (1.8 percent vs 0.4 percent in Q4), while government expenditure rose at a slower pace (0.3 percent vs 2.3 percent). At the same time, net external demand was seen higher, as exports (-1.1 percent vs 1.9 percent) fell less than imports (-3.1 percent vs 4.2 percent). On the other hand, a steep contraction was seen for gross fixed capital formation (-2.3 percent vs 7.4 percent). On an annual basis, the GDP rose 4 percent, slowing from an upwardly revised 4.9 percent expansion in the previous quarter.
2022-06-14
Luxembourg GDP Growth Rate Steady
The economy of Luxembourg expanded by 0.5 percent quarter-over-quarter in the three months to December of 2021, following a downwardly revised 0.5 percent growth in the previous period and marking the sixth straight quarter without contracting. The main positive contributions came from robust rebounds in government expenditure (2.5 percent vs -0.2 percent in Q3) and gross capital formation (9.8 percent vs -4.8 percent). In contrast, household consumption fell marginally (-0.6 percent vs 2.0 percent) and net foreign demand was negative, as imports bounced back by 4.2 percent (vs -0.6 percent in Q3) and exports recovered at a slower 2.2 percent (vs -0.8 percent in Q3). On an annual basis, GDP rose 4.8 percent, the same as in the previous quarter after revisions.
2022-03-14
Luxembourg GDP Growth Picks Up in Q3
Luxembourg's economy expanded by 0.9 percent quarter-over-quarter in the three months to September of 2021, following a revised flat reading in the previous period and marking the fifth quarter in a row without contracting. Growth was exclusively supported by consumption expenditure of households and non-profit institutions serving households (2.0 percent vs 1.9 percent in Q2). However, the contribution from net foreign demand was less negative, as the gap between export growth (0.0 percent vs 1.1 percent) and import growth (0.2 percent vs 1.5 percent) shrank. On the other hand, negative growth rates were seen in public expenditure (-0.3 percent vs 1.6 percent) and gross fixed capital formation (-1.4 percent vs 2.7 percent). Year-on-year, GDP hiked 5.3 percent, slowing from an upwardly revised 12.6 percent hike in Q2.
2021-12-13