Luxembourg, dynamic economy

Key figures of the Luxembourg economy

95 660 euros

Highest real GDP in Europe.

25.7% of PIB

Luxembourg maintains healthy public finances with national debt at 25.7% of GDP, compared to the Eurozone average of 88.6%. For several years, its economy has held a Triple-A rating.

1st

NUMBEO reports that Luxembourg holds the top position in the quality-of-life index and purchasing power. When adjusted for purchasing power standards, the median income per capita in Luxembourg is 74% above the European Union average. The residents enjoy the highest purchasing power in Europe.

2 570.93 euros

Is the monthly minimum wage as of January 1st, 2024, the highest in the world, just ahead of Australia.

17%

Luxembourg’s VAT is 17%, while the average in the Eurozone is 20.8%.

184.6%

With an open rate of 184.6% in 2022, Luxembourg is the world's most open economy.

3

German, French and Luxembourgish are the three official languages. English is increasingly spoken, especially in the financial sector. On average, residents speak 3.6 languages, placing Luxembourg first in the European Union.

23,5%

The share of the financial sector in GDP was 23.5% in 2023. The Grand Duchy is an international financial center.

1,348 billion euros

Luxembourg receives the highest ratio of foreign direct investments to GDP among OECD countries, amounting to nearly 1,348 billion euros.

65%

Luxembourg exports almost 65% of its produced goods and services.

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: