Luxembourg Statistics

Source: Open Data

POPULATION

The current population of Luxembourg in 2024 is 672,050, marking an increase of 11,241 residents, or 1.7%, compared to 2023. Over the past two decades, the country’s population has seen significant growth, rising by more than 230,000—from 439,000 in 2001 to 672,050 in 2024. 

Between 2023 and 2024, the number of Luxembourgers grew by +6,970, followed by an increase of +511 Syrians and +472 Spanish citizens. Meanwhile, the number of Portuguese residents in Luxembourg declined by -1,186 in 2024. As a result, in 2024, Luxembourgers make up the largest population by nationality in Luxembourg (354,372) (53%), followed by Portuguese (90,915) (14%) and French citizens (49,234) (7%). Almost all inhabitants, or 92%, are Europeans, while Asians and Africans represent 4% and 3% of the total population, respectively. 

The largest age group in Luxembourg in 2024 comprises individuals aged 30-34, totaling 54,743 persons. This group is followed by persons aged 35-39 (53,218 persons) and those aged 40 to 44 (51,306 persons). The gender ratio in Luxembourg remains balanced at 1:1, with 338,274 males and 333,776 females.

UNEMPLOYMENT

The statistics above show the unemployment rates in Luxembourg in August 2024, which reflected a slight improvement compared to July 2024. During this month, unemployment remained at around 5.8%, unchangeed from previous month. 

In total, 17,735 people were unemployed in August, a decrease of 0.9% (or 166 fewer individuals) from July 2024. New job creation, however, saw a significant drop, with 2,820 jobs added, marking an 18.7% decline from the prior month.

With these changes, Luxembourg had 7,243 open positions in August 2024, 296 (3.9%) less than in July 2024. Over half of these - 3,931 (54%)  were located in Luxembourg City, followed by 352 (5%) open positions in Esch-sur-Alzette and 170 (2%) in Niederanven. Around a third (35%) of the open positions, or 2,522, were in business support services, followed by 901 open positions in personal and community services and 829 open positions in construction and public works. 

Unemployment rates remained the highest in the communes of Esch-sur-Alzette, Differdange, and Rumelange, where rates ranged between 4% and 5%. By age, the highest number of job seekers - 2,369 (4.3%) were aged 30-34, while the highest unemployment rate was among those aged 50-54, standing at 4.6%, which is 2,142 persons.

HOUSING II (Country Level - Updated Quarterly)

The housing data statistics from the first quarter of 2024 reveal the latest market trends for Luxembourg.

During the first months of the year, the price for a new apartment in Luxembourg averaged €9,340 per square meter, reflecting a 1.21% increase from the final quarter of 2023. Meanwhile, existing apartments were priced at €7,670 per square meter, marking a 1.70% increase from 2023 Q4. The apartments sold had an average size of 80 square meters.

As a result, in 2024 Q1, Luxembourgers paid an average price of €713,760 for a new apartment and €594,351 for an existing one, a 22% price difference.

The demand for existing apartments significantly outpaced new constructions, with 809 existing units sold compared to 92 new ones. These figures represent a 26% increase in sales from the previous quarter. The total value of these transactions reached €475 million for existing apartments and €73 million for new apartments.

HOUSING I (Municipality Level - Updated yearly)

The numbers show the housing statistics in Luxembourg in 2023. Over the year, the average price of apartments in Luxembourg was 9,105€/m² across the country. The most expensive commune was Luxembourg City, with an average price of 11,670€/m², followed by Strassen at 11,605€/m² and Steinsel at 9,687€/m². On the other end of the spectrum, the most affordable apartments were in Wiltz, averaging 5,520€/m², with Echternach and Clervaux also offering lower prices at 5,775€/m² and 6,196€/m², respectively.

Luxembourg remained the commune with the most expensive apartments, where buyers can pay up to 31,698€/m² , followed by Strassen, for premium apartments. In contrast, the least expensive apartments in 2023 were located in Wiltz, Grevenmacher, Echternach and Rumelange, priced at around 3,300 - 4,000€/m².

New apartments were significantly more expensive, averaging 10,119€/m², compared to 8,091€/m² for existing apartments. This price gap resulted in a notable difference in sales. A total of 2,038 existing apartments were sold in 2023, nearly 10 times the number of new units sold, which totaled just 288. This represents a sharp decline in overall demand compared to 2022, when 3,105 existing and 1,169 new units were sold.

The next update of these figures from the government are expected early 2025 to reflect the data of 2024.

HOUSING II (Country Level - Updated quarterly)

The latest statistics highlight the key drivers of Luxembourg's housing market in Q2 2024. During this period, the market exhibited contrasting trends between new and existing apartments.

The average price per square meter for new apartments rose by 9.7%, while prices for existing apartments dipped by 0.8% compared to Q1 2024. As a result, new apartments were priced 34% higher than existing ones, with average prices at €10,173/m² for new apartments and €7,612/m² for existing ones. The average apartment size remained consistent at 77 m², with housebuyers paying an average of €724,030 for new apartments and €592,230 for existing ones.

The number of apartment sales surged by 23% in Q2, with a total of 1,065 units sold. Of these, 154 were new apartments, and 911 were existing ones, indicating stronger demand for older, more affordable properties. The total value of these transitions reached €565 million for new and €114 million for existing apartments, a drastic increase from the first quarter of 2024, when sales totaled €475 million for new and €77 million for existing apartments.

ECONOMY

Continuing a four-month decline, the inflation rate in Luxembourg dropped to a level of 1.73%in August 2024, down by 0.25% compared to July’s inflation rate of 1.98%. This marks the lowest inflation rate since August 2023. Compared to the Euro Area, this puts Luxembourg below the average European inflation rate, which remained at 2.2% in August 2024.

The statistics also show that in August 2024, residents took €168 million in housing loans, for which they will pay an average interest rate of 4.82%. Most of these loans have a fixed interest rate for up to one year and a subsequent floating rate.

TRADE (Goods)

The table above presents Luxembourg's trade activities with the world in 2023, highlighting the imports and exports that totaled €39.28 billion. The year ended with a trade imbalance, as Luxembourg imported 1.54 times more than it exported.

The trade activity was diversified across various sectors. The main trade sector was machinery, mechanical appliances, and electrical equipment, which reached €6.55 billion of the total trade, or 17%. Other key sectors include vehicles, aircraft, vessels, and related transport equipment, whose trade worth was €5.82 billion (15%), and base metals, for which the trade activity was €5.66 billion, or 14% of the total trade volume.

Looking at imports and exports separately, vehicles, aircraft, vessels, and related transport equipment were the most significant imports, totaling €4.04 billion, while base metal was the largest export, reaching €3.07 billion of the trade volume.

In terms of geography, Luxembourg traded with 230 countries worldwide. Europe dominated this activity, accounting for 88% of the total trade volume, with €34.67 billion traded across 27 European countries. Germany emerged as Luxembourg's top trading partner in both Europe and the world, with a total trade volume of €10.5 billion, representing 27% of Luxembourg’s global trade. Luxembourg traded with 230 countries globally, but the number drops to 167 for countries with a trade volume with Luxembourg of at least EUR 1M, and 46 countries with a minimum volume of EUR 100M, accounting for 99% of total trade. In 2023, 15 countries had a total trade volume with Luxembourg exceeding EUR 1B, representing 91% of the total trade.

Belgium ranked second with a trade volume of €10.13 billion, 26% of the total trade. Notably, Luxembourg imported €1.88 billion worth of vehicles, aircraft, and related transport equipment from Belgium while exporting €366 million in plastics and rubber. With 13% of the total, base materials dominated Luxembourg’s trade with France, with €490 million in imports and €418 million in exports.

Beyond Europe, Luxembourg’s trade activity extended to Asia (€2 billion or 5% of the total), North America (€1.3 billion or 3%), and South America, with a trade volume of €0.3 billion (1%).

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