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Luxembourg 12th most competitive economy

Published Tuesday August 31 2021

The coronavirus pandemic, and the economic turmoil it created, made 2020 a difficult year for economies across the world. Luxembourg nevertheless improved its competitiveness and is raked in 12th place according to the latest IMD World Competitiveness Ranking . Compared to 2019, Luxembourg improved its ranking by three places.

Among the sub categories, Luxembourg ranks 10th for its economic performance, in particular due to its international trade, employment and domestic economy. It is also in 10th place for its government efficiency, mainly thanks to its strong performance in the fields of public finance, business legislation, and its societal and institutional framework.

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