According to STATEC, Luxembourg's national statistical office, real Gross Domestic Product (GDP) growth in Luxembourg was -1.0% in the first quarter of 2025, compared to the previous quarter and -0.4% compared to the first quarter of 2024.
The annual real GDP growth has been revised as follows: the fourth quarter of 2024 remains at +1.9%, the third quarter is revised to -0.1% instead of 0.0%, and the second quarter to +1.5% instead of +1.6%.
The quarterly series of GDP and the main aggregates are adjusted for seasonal variations.
GDP according to the "Production" approach
The value added of financial and insurance activities decreased by 3.9% compared to the previous quarter. The growth in other sectors, in order of importance in GDP, is as follows:
- "Trade; transportation; accommodation and food services" +1.8%,
- "Business services and leasing" -0.2%,
- "Real estate activities" -0.3%,
- "Industry, including energy and water supply" -12.9%,
- "Construction" +6.0%, and
- "Public administration, education and health" +0.8%.
GDP by the "Expenditure" approach
Compared to the fourth quarter of 2024, final consumption expenditure by households and non-profit institutions serving households decreased by 0.4%, and that of general government increased by 1.2%.
Gross fixed capital formation increased by 5.2%, particularly in construction. Exports decreased by 0.4%, particularly in goods and financial services. Imports increased by 0.1%.
