Luxembourg Ranks 9th for Competitiveness in EU in New ODC Report

The Observatoire de la compétitivité (ODC), a monitoring and analysis unit of the Ministry of the Economy in charge of monitoring the competitiveness of Luxembourg, has just published its Competitiveness Report 2018.

After the overhaul of the national indicator system last year, the central element of this 2018 edition of the report is the annual update of the new competitiveness scoreboard. In the overall classification based on the competitiveness index calculated by the ODC, Luxembourg ranks 9th in the European Union and is thus part of the "high performance" group of countries. For the three sub-categories, Luxembourg ranks 11th for economy, 4th for social and 14th for environment.

The ODC also monitors and analyses several dozen international benchmarks and rankings, including those of the World Economic Forum (WEF), the International Institute for Management Development (IMD), the Heritage Foundation and the European Commission. In these rankings, Luxembourg's overall results are close to those of the national competitiveness scoreboard.

Luxembourg's national indicators and targets in the context of the European Semester, and in particular those concerning the Europe 2020 strategy and the procedure for monitoring macroeconomic imbalances, are also highlighted in this publication. While for some 2020 national targets the indicators are moving in the right direction in Luxembourg, the situation is less positive for others.

The report also provides an overview of the five new priority sectors in Luxembourg: Information and communication technologies, logistics, health sciences and technologies, environmental technologies and space technologies. It similarly includes a macroeconomic analysis of the evolution of the degree of diversification of the Luxembourg economy over the past two decades.

Finally, this year's report summarises the main elements discussed at an international conference organised by the ODC in Luxembourg in 2018, which helped to share knowledge on the competitiveness of small states.

The Competitiveness Report 2018 can be downloaded at: https://odc.gouvernement.lu/en/publications.html.