National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Luxembourg
LUXGDPNQDSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,243,529,000.00
Year-over-Year Change
23.91%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic indicator measures the total Gross Domestic Product (GDP) of Luxembourg at current market prices. GDP is a key metric used to assess the overall size and health of a national economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Gross Domestic Product (GDP) is the total market value of all final goods and services produced within a country during a given period. The GDP by expenditure measure tracks the major components of GDP including consumption, investment, government spending, and net exports.
Methodology
The data is collected and calculated by the Luxembourg Statistical Agency using established national accounting frameworks.
Historical Context
GDP is a crucial indicator monitored by policymakers, economists, and investors to gauge economic performance and inform decision-making.
Key Facts
- Luxembourg's GDP reached €66.3 billion in 2021.
- GDP per capita in Luxembourg was €105,250 in 2021.
- Services account for over 80% of Luxembourg's GDP.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total Gross Domestic Product (GDP) of Luxembourg at current market prices. GDP is a comprehensive metric of a country's overall economic activity and production.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator used by policymakers, economists, and investors to assess the size, growth, and health of a national economy. It informs decision-making on economic and fiscal policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Luxembourg Statistical Agency using established national accounting frameworks and methodologies.
Q: How is this trend used in economic policy?
A: GDP data is closely monitored by central banks, government agencies, and market analysts to gauge macroeconomic performance, set policies, and make investment decisions.
Q: Are there update delays or limitations?
A: There is typically a delay of several months before GDP data is released. Additionally, GDP figures may be subject to revisions as more complete information becomes available.
Related Trends
Harmonized Index of Consumer Prices: Mineral Waters, Soft Drinks, Fruit and Vegetable Juices for Luxembourg
CP0122LUM086NEST
Harmonized Index of Consumer Prices: Transport for Luxembourg
CP0700LUM086NEST
Infra-Annual Labor Statistics: Labor Force Total: 15 Years or over for Luxembourg
LFACTTTTLUQ647S
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance for Luxembourg
LUXCP050000GYQ
Infra-Annual Labor Statistics: Employment Total: From 25 to 54 Years for Luxembourg
LFEM25TTLUA657N
Infra-Annual Labor Statistics: Monthly Unemployment Female: 15 Years or over for Luxembourg
LFHUTTFELUQ647N
Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Luxembourg (LUXGDPNQDSMEI), retrieved from FRED.