The economy of Luxembourg advanced by 1.6% year-on-year in the second quarter, following a downwardly revised 2.7% rise in the previous period. It was the weakest growth rate since the last quarter of 2020 amid the fallout from the war in Ukraine and related price pressures. On a quarterly basis, the GDP fell by 0.5%, after a downwardly revised 0.7% increase in the previous quarter. source: STATEC, Luxembourg

GDP Annual Growth Rate in Luxembourg averaged 3.41 percent from 1996 until 2022, reaching an all time high of 12.90 percent in the second quarter of 2021 and a record low of -8 percent in the second quarter of 2020. This page provides - Luxembourg GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Luxembourg GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.

GDP Annual Growth Rate in Luxembourg is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Luxembourg GDP Annual Growth Rate is projected to trend around 2.80 percent in 2023 and 2.50 percent in 2024, according to our econometric models.

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Luxembourg GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-14 10:00 AM Q1 4% 4.9% 1.5%
2022-09-14 10:00 AM Q2 1.6% 2.7% 2.1%
2022-12-14 10:00 AM Q3 1.6% 2.5%


Related Last Previous Unit Reference
GDP Growth Rate -0.50 0.70 percent Jun 2022
GDP Annual Growth Rate 1.60 2.70 percent Jun 2022
GDP Constant Prices 15772.25 16345.40 EUR Million Jun 2022
Gross Fixed Capital Formation 2694.56 2916.00 EUR Million Jun 2022

Luxembourg GDP Annual Growth Rate
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
1.60 2.70 12.90 -8.00 1996 - 2022 percent Quarterly