United StatesChapters
The United States is the world’s greatest economic power, measured in terms of gross domestic product (GDP). The nation’s wealth is partly a reflection of its rich natural resources and its enormous agricultural output, but it owes more to the country’s highly developed industry. Despite its relative economic self-sufficiency in many areas, the United States is the most important single factor in world trade by virtue of the sheer size of its economy. Its exports and imports represent major proportions of the world total. The United States also impinges on the global economy as a source of and as a destination for investment capital. The country continues to sustain an economic life that is more diversified than any other on Earth, providing the majority of its people with one of the world’s highest standards of living.
Source: Britannica
Key indicators
- Area
- 9,833,517 km2
- Population
- 334,914,895 (2023)
- Government type
- constitutional federal republic
- Languages
- English 77.5%, Spanish 13.7%, other Indo-European languages 3.9%, Asian and Pacific languages 3.6%, other languages 1.3% (2023)
- GDP
- $27.361 trillion (2023)
- Growth rate
- +2,5% (2023)
- HDI
- 20
- Capital
- Washington D.C.
Macroeconomic indicators
Real GDP is projected to grow by 2.6% in 2024 and 1.8% in 2025. Growth was strong in 2023 and is expected to continue at a fairly robust pace through 2024. The fiscal deficit will remain large but tighten modestly. Core PCE inflation declined during 2023 and continues to ease year-on-year, though at a modest pace. Monetary policy easing is expected to begin in the second half of 2024. Downside risks to the growth forecast include delays in the anticipated policy rate cuts and the imposition of additional trade restrictions. Upside risks include stronger-than-expected labour market growth, helping to boost household spending.
Source: OECD – Economic outlook
IMF Statistics:
| Subject descriptor | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
|
Gross domestic product, constant prices Percent change (Units) |
5.800 |
1.936 |
2.531 |
2.725 |
1.881 |
|
Gross domestic product, current prices Percent change (Billions) |
23,594.050 |
25,744.100 |
27,357.825 |
28,781.083 |
29,839.684 |
|
Gross domestic product per capita, current prices Percent change (Units) |
70,995.794 |
77,191.871 |
81,632.253 |
85,372.686 |
87,978.472 |
|
Inflation, average consumer prices Percent change (Units) |
4.682 |
7.992 |
4.128 |
2.907 |
2.000 |
|
Volume of imports of goods and services Percent change (Units) |
14.473 |
8.584 |
-1.700 |
1.106 |
1.987 |
|
Volume of exports of goods and services Percent change (Units) |
6.343 |
6.960 |
2.710 |
1.541 |
2.487 |
|
Unemployment rate Percent change (Units) |
5.350 |
3.633 |
3.625 |
3.993 |
4.221 |
|
Current account balance Percent change (Billions) |
-831.445 |
-971.594 |
-812.746 |
-732.648 |
-758.352 |
|
Current account balance Percent change (Units) |
-3.524 |
-3.774 |
-2.971 |
-2.546 |
-2.541 |
Estimates
Source: IMF Statistics - USA
Relationships with Luxembourg
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention from 03.04.1996 (Memorial 1999, A No.25, p.634)
- Effective as of 01.01.2001 (Memorial 1999, A No.25, p.634)
- Competent Authority Arrangement Regarding USMCA, 02/02/2024
Air Services agreement
- Agreement from 08.19.1986 (Memorial 1988, A, p. 749)
- Effective as of 03.08.1988 (Memorial 1988, A, p. 870)
- Exchange of Letters dated from 06.06.1995 (Memorial 1997, A, p. 1151)
- Effective as of 12.05.1997 (Memorial 1997, A, p. 2529)
- Exchange of Letters from 13/21.7.1998 (Memorial 2003, A, no. 63, p. 1038)
- Effective as of 12.06.2003 (Memorial 2003, A, no. 97, p. 1971)
Source: Administration des contributions directes
Annuler les modifications
Further information
Foreign Trade
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact points in the United States
Ambassador with residence in Washington: H.E. Ms Nicole BINTNER-BAKSHIAN
2200, Massachusetts Avenue N. W.
Washington D.C. 20008
United States
Tel.: (+1) 202 265 4171 / 72
Fax: (+1) 202 328 8270
E-Mail: washington.amb@mae.etat.lu
Website: washington.mae.lu
Consulates General
Consul general with jurisdiction over the States of New York, New Jersey, Connecticut, Rhode Island, Massachusetts, New Hampshire, Vermont, Pennsylvania, Delaware and Maine:
New York
Mr Luc DECKER
17, Beekman Place
New York, N.Y. 10022
United States of America
Tel.: (+1) 212 888 66 64
Fax: (+1) 212 888 61 16
E-Mail: newyork.cg@mae.etat.lu
Website: newyork-cg.mae.lu
Consul general with jurisdiction over the States of California, Washington, Oregon, Arizona, New Mexico, Colorado, Hawaii, Idaho, Nevada, Utah, Montana and Alaska:
San Francisco
Mr Daniel DA CRUZ
1 Sansome Street, suite 830
San Francisco, CA 94104
United States of America
Tel.: (+1) 415 788 08 16
Fax: (+1) 415 788 09 85
E-Mail: sanfrancisco.cg@mae.etat.lu
Website: sanfrancisco.mae.lu
Opening Hours: Monday to Friday 09h00-17h00
Washington
Mr Franck BIEVER
Consul
Embassy of the Grand Duchy of Luxembourg in Washington
2200 Massachusetts Ave. N.W.
Washington D.C. 20008
United States of America
Tél.: (+1) 202 265 41 71
Fax: (+1) 202 328 82 70
E-mail: luxembassy.was@mae.etat.lu
Honorary Consulates
Atlanta / Georgia
Mr Georges HOFFMANN
Honorary consul with jurisdiction over the States of Georgia, North Carolina, South Carolina, and Alabama:
2299 Perimeter Park Drive
Suite 240
GA 30341 Atlanta
United States of America
Tel.: (+1) 770 351 1548
E-Mail: atlanta@consul-hon.lu
Austin/Texas
Mr Peter SLOVER
Honorary Consul with jurisdiction over the State of Texas
2700 Via Fortuna Drive
Suite 500
Austin Texas 78746
United States of America
Tél.: (+1) 512 413 3603
E-mail: austin@consul-hon.lu
Boston/Massachusetts
Ms Susan LIVINGSTON
Honorary consul with jurisdiction over the State of Massachusetts:
Brown Brothers Harriman & Co.
185 Franklin Street
MA 02110 Boston
United States of America
Tel.: (+1) 617 772 6464
E-Mail: boston@consul-hon.lu
Chicago / Illinois
Mr Ethan HASTERT
Honorary consul with jurisdiction over the State of Illinois and Iowa:
40W718 Campton Drive
Elburn
IL 60119 Chicago
United States of America
Tel.: (+1) 312 701 7656
E-Mail: chicago@consul-hon.lu
Cleveland / Ohio
Mr James BRIGHT
Honorary consul with jurisdiction over the State of Ohio:
c/o Schneider Smeltz Spieth Bell LLP
1375 E. Ninth Street, Suite 900
OH 44114 Cleveland
United States of America
Tel.: (+1) 216 696 42 00
E-Mail: cleveland@consul-hon.lu
Detroit / Michigan
Mr Ralph GERSON
Honorary consul with jurisdiction over the State of Michigan:
394 Cranbrook Road
Bloomfield Hills
MI 48304 Detroit
United States of America
Tel.: (+1) 248 258 8790
E-Mail: detroit@consul-hon.lu
Kapolei / Hawaii
Mr Jean-Claude DRUI
Honorary consul with jurisdiction over the State of Hawaii:
Euram, Inc
2176 Lauwiliwili Street #1
HI 96707 Kapolei
United States of America
Tel.: (+1) 808 682 4422 110
E-Mail: kapolei@consul-hon.lu
Los Angeles / California
Mr Pierre BIWER
Honorary consul with jurisdiction over the State of California:
23143 Canzonet St
CA 91367 Woodland Hills
United States of America
Tel.: (+1) 818 274-2646
E-Mail: losangeles@consul-hon.lu
Louisville/Colorado
Mr Jeffrey WELTZIN
Honorary consul with jurisdiction over the State of Colorado and Kansas:
Juxtamark Inc.
245, Century Circle, 102
CO 80027 Louisville
United States of America
Tel.: (+1) 720 890 8343
E-Mail: louisville@consul-hon.lu
Miami
Mr James CASSEL
Honorary consul with jurisdiction over the State of Florida
801 Brickell Avenue
Suite 1900
FL 33131 Miami
United States of America
Tel: (+1) 305-438-7701
E-mail: miami@consul-hon.lu
Minneapolis / Minnesota
Ms Kristin SPELTZ
Honorary consul with jurisdiction over the State of Minnesota:
9501 Dakota Road
MN 55438 Bloomington
United States of America
Tel.: (+1) 612 998-9997
E-Mail: minneapolis@consul-hon.lu
New Orleans / Louisiane
Mr Gary MANNINA
Honorary consul with jurisdiction over the State of Louisiana:
P.O. Box 15803
LA 70118 New Orleans
United States of America
Tel.: (+1) 504 895 0962
E-Mail: neworleans@consul-hon.lu
Port Washington / Winsconsin
Mr Michael ANSAY
Honorary consul with jurisdiction over the State of Wisconsin:
101 E. Grand Avenue, Suite 11
Port Washington, WI 53074
United States of America
Tel.: (+1) 414 640 9140
E-Mail: portwashington@consul-hon.lu
Salt Lake City / Utah
Mr David MURRELL
Honorary consul with jurisdiction over the State of Utah:
337 11th Avenue
UT 84103 Salt Lake City
United States of America
Tel.: (+1) 801 792 1602
E-Mail: saltlakecity@consul-hon.lu
Scottsdale / Arizona
Mr Paul BINSFELD
Honorary consul with jurisdiction over the State of Arizona and New Mexico:
8360 East Via de Ventura, Suite L200
Scottsdale, AZ 85281
United States of America
Tel.: (+1) 480 222 0801
E-Mail: scottsdale@consul-hon.lu
LTIOs
New York:
17 Beekman Place
New York, NY 10022
United States of America
Tel.: (+1) 212 888 6664
Fax: (+1) 212 888 6116
E-Mail: newyork@investinluxembourg.us
Website: www.new-york.investinluxembourg.us
San Francisco:
One Sansome Street, Suite 830
San Francisco, CA 94104
United States of America
Tel.: (+1) 415 788 0816
E-Mail: sanfrancisco@investinluxembourg.us
Website: www.san-francisco.investinluxembourg.us
Source: Ministry of Foreign Affairs of Luxembourg
Country risk as defined by Office du Ducroire for United States
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Link: Ducroire Office – Country Risk for USA
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