This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of Luxembourg were reviewed by the Committee on 2 May 2017. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 17 May 2017. The Secretariat’s draft report was prepared for the Committee by Jan Stráský and Álvaro Pina under the supervision of Pierre Beynet. Research assistance was provided by Corinne Chanteloup and editorial assistance was provided by Claude-Annie Manga-Collard.

The previous Survey of Luxembourg was issued in March 2015.

  
Basic statistics of Luxembourg, 2016
(Numbers in parentheses refer to the OECD average)*

LAND, PEOPLE AND ELECTORAL CYCLE

Population (million)

0.5

Population density per km2

222.8

(37.2)

 Under 15 (%)

17.0

(17.9)

Life expectancy (years, 2014)

82.3

(80.6)

 Over 65 (%)

15.7

(16.6)

 Men

79.4

(77.9)

 Foreign-born (%, 2010)

40.5

 Women

85.2

(83.3)

Latest 5-year average growth (%)

-0.5

(0.6)

Latest general election

October 2013

ECONOMY

Gross domestic product (GDP)

Value added shares (%)

 In current prices (billion USD)

59.9

 Primary sector

0.2

(2.5)

 In current prices (billion EUR)

54.2

 Industry including construction

12.3

(26.8)

 Latest 5-year average real growth (%)

3.5

(1.8)

 Services

87.4

(70.8)

 Per capita (000 USD PPP)

108.3

(41.0)

GENERAL GOVERNMENT

Per cent of GDP

Expenditure

41.2

(40.9)

Gross financial debt

27.6

(111.8)

Revenue

42.7

(38.9)

Net financial debt

-50.4

(72.8)

EXTERNAL ACCOUNTS

Exchange rate (EUR per USD)

0.904

Main exports (% of total merchandise exports)

PPP exchange rate (USA = 1)

0.858

 Manufactured goods

37.8

In per cent of GDP

 Machinery and transport equipment

27.0

 Exports of goods and services

228.1

(53.9)

 Chemicals and related products, n.e.s.

10.4

 Imports of goods and services

191.5

(49.3)

Main imports (% of total merchandise imports)

 Current account balance

4.7

(0.3)

 Machinery and transport equipment

34.2

 Net international investment position (2014)

32.6

 Manufactured goods

15.7

 Chemicals and related products, n.e.s.

11.4

LABOUR MARKET, SKILLS AND INNOVATION

Employment rate for 15-64 year-olds (%)

65.6

(67.0)

Unemployment rate, Labour Force Survey (age 15 and over) (%)

6.3

(6.3)

 Men

70.5

(74.7)

 Youth (age 15-24, %)

18.7

(13.0)

 Women

60.4

(59.3)

 Long-term unemployed (1 year and over, %)

1.9

(2.2)

Participation rate for 15-64 year-olds (%, 2015)

70.9

(71.3)

Tertiary educational attainment 25-64 year-olds (%, 2015)

39.8

(35.0)

Average hours worked per year (2015)

1 507

(1 766)

Gross domestic expenditure on R&D (% of GDP, 2015)

1.3

(2.4)

ENVIRONMENT

Total primary energy supply per capita (toe, 2015)

7.4

(4.1)

CO2 emissions from fuel combustion per capita (tonnes, 2014)

18.6

(9.4)

 Renewables (%, 2014)

5.2

(9.6)

Water abstractions per capita (1 000 m3, 2014)

0.1

Exposure to air pollution (more than 10 μg/m3 of PM2.5, % of population, 2015)

99.4

(75.2)

Municipal waste per capita (tonnes, 2015)

0.7

(0.5)

SOCIETY

Income inequality (Gini coefficient, 2013)

0.281

(0.311)

Education outcomes (PISA score, 2015)

Relative poverty rate (%, 2013)

8.4

(11.1)

 Reading

481

(493)

Median disposable household income (000 USD PPP, 2013)

38.5

(22.0)

 Mathematics

486

(490)

Public and private spending (% of GDP)

 Science

483

(493)

 Health care (2015)

7.2

(9.0)

Share of women in parliament (%)

28.3

(28.7)

 Pensions (2013)

8.5

(9.1)

Net official development assistance (% of GNI)

1.00

(0.39)

 Education (primary, secondary, post sec. non tertiary, 2013)

2.9

(3.7)

Better life index: www.oecdbetterlifeindex.org

← * Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 29 member countries.

Source: Calculations based on data extracted from the databases of the following organisations: OECD, International Energy Agency, World Bank, International Monetary Fund and Inter-Parliamentary Union.