Luxembourg's population may double to 1.2 million by 2060, depending on the spur of net migration and economic growth, according to one of four scenarios drawn up by Statec, the country's statistics office.

Unlike most countries where demographics are driven by the balance of births and deaths, because of its small size, Luxembourg's are determined by the number of people coming to or leaving it, Statec said in a statement on Friday.

"Net migration accounts for more than 80% of population growth," Statec said. "Demographic changes also affect the labour market. The economic impact goes both ways -- GDP growth attracts foreign workers who also contribute to it."

If annual economic growth is between zero and 1.5%, Luxembourg's population would reach one million "in the very long term," Statec said. Expansion of 3% would take it to 1.1 million and 4.5% could result in 1.2 million inhabitants, by 2060, it said.

Luxembourg's current population is 591.000, Statec said.

Economic growth could also affect the age of Luxembourgers. The average age is now 39.3 years. Under the zero growth scenario it would rise to 46 years by 2060 and to 44.2 years with 4.5% growth, Statec said.

(Alistair Holloway, alistair.holloway@wort.lu, +352 49 93 39)