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%.
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.
Luxembourg GDP from 1980 to 2024
The total market value of goods and services produced annually in Luxembourg.
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 |