Credit: STATEC
Luxembourg's statistical institute STATEC has published figures relating to the country's Gross Domestic Product (GDP) for the third quarter of 2021, as well as revised figures for the previous quarters.
Luxembourg's real GDP for the third quarter of 2021 was 0.9% higher than the previous quarter and 5.3% higher than the third quarter of 2020.
Annual changes to real GDP for 2020 and 2021 have been revised as follows: +12.6% rather than +11.8% for the second quarter of 2021; +5.6% instead of +5.2% for the first quarter of 2021; +0.7% rather than +0.8% for the fourth quarter of 2020.
Over one quarter, the added value of financial and insurance activities increased by 1.6%. The development of the other branches, in order of importance in terms of GDP, was as follows: trade, transport and accommodation and catering increased by 1.7%; business services and rental rose by 0.3%; real estate activities were up 0.3%; industry, including energy and water distribution increased by 1.8%; construction fell by 0.8%; public administration, education and health rose by 0.4%.
Moreover, the final consumption expenditure of households and non-profit organisations serving households increased by 2.0%, whilst that of the public administration decreased by 0.3% compared to the second quarter of 2021. Gross capital formation fell by 1.4%. Exports remained stable, while imports increased by 0.2%.
