Credit: STATEC
According to STATEC, Luxembourg’s national statistical office, real Gross Domestic Product (GDP) increased by 1.1% in the third quarter of 2025 compared to the previous quarter and by 2.7% compared to the same period in 2024.
STATEC also revised annual real GDP developments for previous quarters as follows: -0.7% instead of -0.2% for the second quarter of 2025; -2.6% instead of -1.9% for the first quarter of 2025, and the fourth quarter of 2024 remains unchanged at +0.1%.
The quarterly series of GDP and the main aggregates are adjusted for seasonal variations.
GDP according to the “Production” approach
STATEC reported that total value added across all branches increased by 1.5% quarter-on-quarter in Q3 2025. Financial and insurance activities contributed the most to this growth (+0.6 percentage points), followed by services within “Trade; transport; accommodation and food services” and predominantly non-market activities (“Public administration, education and health”).
Several sectors, however, recorded declines, with the most negative contributions coming from business services and construction.
GDP according to the “Expenditure” approach
Investment (gross fixed capital formation) recorded a particularly strong increase in the third quarter, driven mainly by satellite acquisitions, which were reflected in a marked rise in goods imports. Investments in metal products and machinery (excluding transport equipment) also significantly supported overall growth.
After slight declines in the previous two quarters, household consumption increased again, particularly in restaurant services, durable goods (such as furniture and household appliances), transport services and clothing. Public consumption expenditure remained dynamic, in line with recent quarterly trends.
STATEC further noted that trade in services contributed positively to GDP development, both in financial and non-financial services.
