GDP for the 2nd quarter of 2022 decreases by 0.5% compared to the previous quarter

However, when compared with the 2nd quarter of 2021, GDP growth is +1.6%. This is reported by STATEC in its new study.

Source: STATEC. GDP dynamics: linked and seasonally adjusted data

It should be noted, that the GDP per capita in Luxembourg is the highest in the world. In 2022, according to this indicator, Luxembourg is recognized as the richest country in the world.

Also, despite the current energy crisis and the consequences of the war in Ukraine, compared to the pandemic yearof 2021, the country’s GDP increased by 1.6%, which can serve as another confirmation of the economic stability of the Grand Duchy.