Luxembourg's GDP changed from approximately $6B 434M in 1980 to $88B 556M in 2024, showing an overall 1276.4% sharply increased during the period.
The lowest GDP was recorded in 1984 at $4B 385M, and the highest in 2024 at $88B 556M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 6.1%.
For comparison, the average annual growth rate of Belgium was 3.9%, and that of Germany was 3.9%.
Luxembourg GDP from 1980 to 2024
The total market value of goods and services produced annually in Luxembourg.
Overview of Luxembourg's GDP (1980–2024)
The Gross Domestic Product (GDP) of Luxembourg recorded a 1276.4% sharply increased from 1980 to 2024.
The average GDP during this period was $37B 134M, and the median was $23B 633M.
GDP fluctuated within a range of $84B 171M, with a standard deviation of $27B 528M.
The average annual change was $2B 34M.
Highest and Lowest GDP Records
- Lowest GDP: 1984, $4B 385M
- Highest GDP: 2024, $88B 556M
- Most Recent GDP: 2024, $88B 556M
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2015: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Luxembourg's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $69B 898M → $73B 640M
- Outcome: increased
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $51B 593M → $54B 408M
- Outcome: increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $21B 240M → $21B 388M
- Outcome: remained stable
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $18B 428M → $19B 263M
- Outcome: increased
Key Economic Indicators of Luxembourg (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 6B 434M | $ 17,666.74 | $ 15,915.38 | $ 5B 796M | 3.17 % | 0 % | 15.61 % | 0 % | 364,000 people |
1981 | $ 5B 549M | $ 15,190.08 | $ 17,507.31 | $ 6B 395M | 0.798 % | 0 % | 14.59 % | 0 % | 365,000 people |
1982 | $ 4B 557M | $ 12,464.02 | $ 18,766.96 | $ 6B 861M | 1.039 % | 0 % | 11.24 % | 0 % | 366,000 people |
1983 | $ 4B 473M | $ 12,234.67 | $ 19,869.76 | $ 7B 264M | 1.887 % | 0 % | 14.97 % | 0 % | 366,000 people |
1984 | $ 4B 385M | $ 11,984.27 | $ 21,542.90 | $ 7B 883M | 4.73 % | 0 % | 16.62 % | 0 % | 366,000 people |
1985 | $ 4B 544M | $ 12,393.78 | $ 23,422.97 | $ 8B 587M | 5.596 % | 0 % | 29.87 % | 0 % | 367,000 people |
1986 | $ 6B 611M | $ 17,950 | $ 26,158.68 | $ 9B 634M | 9.983 % | 0 % | 30.79 % | 0 % | 368,000 people |
1987 | $ 8B 211M | $ 22,149.52 | $ 27,685.66 | $ 10B 263M | 3.951 % | 0 % | 30.27 % | 0 % | 371,000 people |
1988 | $ 9B 301M | $ 24,875.49 | $ 30,821.77 | $ 11B 524M | 8.464 % | 0 % | 30.62 % | 0 % | 374,000 people |
1989 | $ 9B 903M | $ 26,226.90 | $ 34,824.13 | $ 13B 150M | 9.798 % | 0 % | 32.60 % | 0 % | 378,000 people |
1990 | $ 12B 628M | $ 33,066.89 | $ 37,620.92 | $ 14B 367M | 5.32 % | 0 % | 34.02 % | 0 % | 382,000 people |
1991 | $ 13B 683M | $ 35,346.49 | $ 41,687.99 | $ 16B 137M | 8.645 % | 0 % | 35.24 % | 0 % | 387,000 people |
1992 | $ 15B 328M | $ 39,061.02 | $ 42,827.45 | $ 16B 805M | 1.819 % | 0 % | 35.68 % | 0 % | 392,000 people |
1993 | $ 15B 714M | $ 39,483.06 | $ 45,041.45 | $ 17B 926M | 4.201 % | 0 % | 35.65 % | 0 % | 398,000 people |
1994 | $ 17B 487M | $ 43,306.89 | $ 47,075.11 | $ 19B 9M | 3.821 % | 0 % | 33.84 % | 0 % | 404,000 people |
1995 | $ 20B 571M | $ 50,705.08 | $ 48,522.07 | $ 19B 685M | 1.432 % | 12.022 % | 31.71 % | 1.624 % | 406,000 people |
1996 | $ 20B 464M | $ 49,718.86 | $ 49,440.17 | $ 20B 350M | 1.515 % | 11.566 % | 31.85 % | 1.249 % | 412,000 people |
1997 | $ 18B 428M | $ 44,202.56 | $ 52,601.36 | $ 21B 930M | 5.937 % | 9.978 % | 32.33 % | 1.574 % | 417,000 people |
1998 | $ 19B 263M | $ 45,636.55 | $ 55,948.20 | $ 23B 616M | 6.492 % | 8.556 % | 32.01 % | 1.877 % | 422,000 people |
1999 | $ 21B 88M | $ 49,341.22 | $ 60,754.82 | $ 25B 967M | 8.421 % | 10.771 % | 34.84 % | 2.489 % | 427,000 people |