Luxembourg Economy
Its currency is called the Euro. Luxembourg’s economy is generally called the developed and advanced economy and also a high-income economy.
Luxembourg’s inflation rate is 0.5% in the year 2020. 21% of its population lives below the poverty line. Its HDI rate is 0.908 in the year 2019. Its HDI rate is considered the highest HDI rate in the world.
Its HDI rank is 21st in the world. When we talk about its Labour force by occupation, agriculture 1.2%, industry 20%, and services are 79% in the year 2018.
The unemployment rate in Luxembourg is 6.7% in the year 2020. Its gross external debt is $3.7 trillion in the year 2017. Its total foreign reserves are $880 million in the year 2018.
Luxembourg GDP
Luxembourg’s total GDP is $70 billion (nominal) and $74 billion (PPP) in the year 2020. Its GDP rank is 69th (nominal) and 100th (PPP) in the year 2020.
Its GDP growth rate is 5.8% in the year 2021. Its GDP per capita is $116,000 (nominal) and $120,000 (PPP) in the year 2020.
Its GDP per capita rank is 1st (nominal) and 2nd (PPP) in the year 2020. When we talk about its GDP by sector, agriculture is 0.4%, the industry is 13%, and services are 87% in the year 2018.
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