Luxembourg country overview
Before we talk about Luxembourg GDP first we discuss Luxembourg’s country overview, so Luxembourg is officially called the Grand Duchy of Luxembourg.
It is a landlocked country located in Western Europe. Luxembourg shares her border with Belgium, Germany, and France. Luxembourg’s capital and largest city name is Luxembourg city.
Its official language is Luxembourgish, French, and German. When we talk about its ethnic groups, 51% of Luxembourgers, 18% Portuguese, and other ethnic related groups live in Luxembourg.
In the religious divide, 73% Christians, 23% no religions, and other religious-related groups live in Luxembourg. Luxembourg’s government system is the Unitary parliamentary constitutional monarchy.
Its Monarch is called the Henri. Its prime minister’s name is Xavier Bettel. Its total land area is 2587 km2. Its land area rank is 167th in the world.
Luxembourg’s total population is 633,600 in the year 2021. Its population rank is 168th in the world. Its total population density is 241/km2. Its population density rank is 58th in the world.
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’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.
Its total exports are $16 billion in the year 2018. Its main export goods are machinery, steel, chemicals, and others. Its main export partners are Germany, Belgium, Italy, the UK, and others.
Luxembourg’s total imports are $21 billion in the year 2018. Its main import goods are chemicals, food products, oils, and others. Its main import partners are Belgium, Germany, the United States, and others.
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