Luxembourg: New businesses registered (number)

Key figures

What the numbers say

In 2024, Luxembourg's new businesses registered (number) rose 6.4% on 2023 (from 8,587 to 9,137).

Across the 15 yearly changes before that (2009 to 2023), the average change was +1% and a typical year strayed about 15.4% from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 31.6% in 2021 and the biggest yearly fall was 27.5% in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 6% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Luxembourg had the 71st highest value of the 127 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Luxembourg in the 2024 ranking

• Cayman Islands — 68th of 127: 11,197
• Burkina Faso — 69th of 127: 10,046
• Kyrgyz Republic — 70th of 127: 9,638
• Kosovo — 72nd of 127: 8,824
• Serbia — 73rd of 127: 8,788
• Armenia — 74th of 127: 8,381

What this measures

New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.

Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.

All 17 values

New businesses registered (number) in nearby economies

• Albania — 4,126 (2024)
• Armenia — 8,381 (2024)
• Austria — 5,982 (2023)
• Azerbaijan — 14,215 (2024)
• Belarus — 7,820 (2022)
• Belgium — 39,772 (2023)
• Bosnia and Herzegovina — 3,369 (2024)
• Bulgaria — 42,783 (2024)
• Croatia — 14,324 (2024)
• Cyprus — 14,444 (2024)
• Czechia — 29,877 (2024)

More private sector & trade data for Luxembourg

• Merchandise trade (% of GDP) — 46.03% (2025)
• Agricultural raw materials imports (% of merchandise imports) — 2.09% (2025)
• Food imports (% of merchandise imports) — 14.97% (2025)
• Fuel imports (% of merchandise imports) — 5.71% (2025)
• Insurance and financial services (% of commercial service imports) — 44.57% (2025)
• Manufactures imports (% of merchandise imports) — 66.87% (2025)
• Ores and metals imports (% of merchandise imports) — 5.19% (2025)
• Merchandise imports from economies in the Arab World (% of total merchandise imports) — 0.16% (2023)
• Merchandise imports (current US$)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Luxembourg's new businesses registered (number)?

9,137 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2008?

It is up 3.91% from 8,793 in 2008 (0.24% a year on average, compounded). The highest value was 12,644 in 2021 and the lowest 6,372 in 2009.

How does Luxembourg rank?

71st highest of 127 economies with data for 2024.

Is the latest change in new businesses registered (number) unusual for Luxembourg?

In 2024, Luxembourg's new businesses registered (number) rose 6.4% on 2023 (from 8,587 to 9,137). Across the 15 yearly changes before that (2009 to 2023), the average change was +1% and a typical year strayed about 15.4% from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator IC.BUS.NREG, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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