Luxembourg, dynamic economy

Introduction to Luxembourg's economy

2.1% is the average growth rate of the Luxembourg economy over the last 5 years, which is almost four times higher than that of the Euro zone. Employment in the country is increasing by an average of 3.1% per year.

Luxembourg's openness rate is 168.5%, making it the most open economy in the world.

25.7% is the share of the financial sector in the GDP. The Grand Duchy is an international financial centre.

With an amount close to 2,930 billion euros, Luxembourg is the third country in the OECD that receives the most Direct Investment from abroad, just behind the United States and the Netherlands.

Almost 40,000 SMEs employ 229,000 people in Luxembourg.

Luxembourg's future is shaped around a competitive, resilient and sustainable economic development focused on digital and environmental transitions. This strategy focuses on 7 priority sectors: industry 4.0, clean technologies, health technologies, logistics, information and communication technologies (ICT), space and financial services.

With a median per capita income in purchasing power standards that is 65% higher than the EU average, Luxembourg's population enjoys the highest purchasing power in Europe.

The minimum monthly wage is 2.256,95 euros (1.10.2021). This is the highest in the world, just ahead of Australia.

73.5% of employees do not have Luxembourg nationality, i.e. 27.3% are foreign residents and 46.2% are cross-border commuters.

With a public debt equivalent to 25.5% (2020) of its GDP, Luxembourg is the second least indebted country in the European Union, behind Estonia.

By devoting 1.0% of its Gross National Income to public development aid, Luxembourg is the third country in the world most committed to improving the economic development and living standards of developing countries.

The "baromètre de l’Economie"

The "baromètre de l'Economie" takes the pulse of the economy and captures the main concerns of companies every six months based on a survey conducted among a panel of 1,200 companies with 10 or more employees. It is intended to represent the evolution of the economic situation for Luxembourg companies, and thus to be a source of information for companies and decision-makers. The result of the Economy Barometer (out of 100) corresponds to the average of the 7 economic indicators: confidence in the future (company and economy), activity (last six months and next six months), employment, profitability and investment.

Have a look at the various edition of "baromètre de l'Economie" in French:

Competitiveness

Strengthening the competitiveness of companies and the economy in general is one of the main missions of the Chamber of Commerce. It does this through its proposals to the public authorities, the production of analyses on key aspects of competitiveness and by acting as Luxembourg's institutional partner in the world's leading rankings on the subject.

Below, you have the possibility to consult the latest analyses, studies and surveys in which the Economic Department of the Chamber of Commerce has been involved, from near or far:

The Economic Department also prepares strategic reflection documents which are published in the Chamber of Commerce's economic newsletter "Actualité&Tendances" and can be consulted in our publication section.

Useful socio-economic links

External trade

Economy and finance

Professional associations

Research, development and innovation

Statistics

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