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Economy of Luxembourg

Luxembourgian One Euro coin
CountryLuxembourg
Width150
CaptionLuxembourgian One Euro coin
Currency1 Euro=100 eurocent
YearCalendar year
OrgansEU, WTO and OECD
Rank99th
Gdp$40.81 billion (2010 est.)
Growth+3.2% (2010 est.)
Per Capita$81,800 (2010 est.)
Sectorsagriculture: 0.4%; industry: 13.6%; services: 86% (2007 est.)
Inflation2.1% (2010 est.)
PovertyNA%
Gini26 (2005)
Labor206,000 of whom 125,400 are foreign cross-border workers commuting primarily from France, Belgium, and Germany (2010 est.)
Occupationsagriculture: 2.2%; industry: 17.2%; services: 80.6% (2007 est.)
Unemployment4.9% (December 2010)
Average Gross Salary4,051 - / 5,469 $, monthly (2006)
Average Net Salary2,693 - / 3,636 $, monthly (2006)
Edbr45th
Industriesbanking and financial services, iron and steel, information technology, telecommunications, cargo transportation, food processing, chemicals, metal products, engineering, tires, glass, aluminum, tourism
Exports$17.82 billion (2010 est.)
Export-goodsmachinery and equipment, steel products, chemicals, rubber products, glass
Export-partnersGermany 19.78%, France 15.87%, Belgium 11.07%, UK 7.96%, Italy 7.49%, Netherlands 4.31% (2009)
Imports$23.67 billion (2010 est.)
Import-goodsminerals, metals, foodstuffs, quality consumer goods
Import-partnersBelgium 27.22%, Germany 23.14%, China 18.62%, France 8.85%, Netherlands 5.06% (2009)
FDI$11.21 billion (31 December 2008 est.)
Gross External Debt$1.892 trillion (30 June 2010)
Debt16.2% of GDP (2010 est.)
Revenue$20.88 billion (2010 est.)
Expenses$22.11 billion (2010 est.)
ReservesUS$980.92 million (March 2011)
Credit*Standard & Poor's:
AAA (Domestic)
AAA (Foreign)
AAA (T&C Assessment)
Outlook: Stable *Moody's:
Aaa
Outlook: Stable *Fitch:
AAA
Outlook: Positive
Aiddonor: ODA, $235.59 million ( )
Cianamelu

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The economy of Luxembourg is largely dependent on the banking, steel, and industrial sectors. Luxembourgers enjoy the second highest per capita gross domestic product in the world (CIA 2007 est.), behind Qatar. Luxembourg is seen as a diversified industrialized nation, contrasting the oil boom in Qatar, the major monetary source of that nation.

Although Luxembourg in tourist literature is aptly called the "Green Heart of Europe", its pastoral land coexists with a highly industrialized and export-intensive economy. Luxembourg enjoys a degree of economic prosperity almost unique among industrialized democracies.

Economy of Luxembourg Video

www.station.lu Boring, monotonous, unsophisticated and provincial? Think again. Rather than being just a city, Luxembourg is a country full of attractions and contrasts, where tradition and modernity coincide harmoniously. Technological and social innovation combined with fast and flexible responses are the key to the Grand Duchys advance on the international stage. This richly diverse country is often referred to as a microcosm of the European Union. As a funding member, it successfully unites multiculturalism and linguistic diversity with political stability and economic prosperity. Come and discover the thriving capital and the surprising myriad of landscapes, cultural and sports opportunities as well as excellent food and open minded people.
5.60 min. | 4.87 user rating		 www.station.lu Impressive nature, rich diverse culture, outstanding cuisine, superb outdoor activities, and a bustling nightlife, are but a few reasons why Luxembourg is such an attractive tourist destination. Discover a unique and surprising country which offers visitors a fascinating mixture of history and modernity, urban landscapes and nature, activity and relaxation. Check out this video clip to get a first taste of the many astonishing facets the Grand Duchy of Luxembourg has to offer.
5.40 min. | 4.58 user rating		 www.station.lu The capital of one of the worlds smallest countries is a vibrant, dynamic city nestled within a romantic, peaceful countryside that gives it plenty of natural space to breathe. The city is a modern, open and friendly place that has embraced the opportunities of high-tech life without losing its soul. Home to a number of EU institutions, Luxembourg is a capital with a human dimension. It is an international hub people from 150 different countries now call it home where major global corporate names have come to take advantage of cutting-edge technological expertise. Luxembourg has twice been honored as European Capital of Culture and it buzzes with artistic creativity such as the music, dance and theatre performances. Its ancient fortresses, dating from the 9th century, still remain and are now protected as a UNESCO World Heritage Site.
3.42 min. | 4.61 user rating		 www.station.lu Luxembourg . Is it true what they say about Esch? is an open invitation to discover Esch Luxembourgs economic and cultural capital of the south. Able to combine educational, economical, industrial and cultural interests all in one place, the City of Esch, has grown over a century around its industrial backbone. As the future location of the University of Luxemburg, this outstanding town has explored and reached new objectives in research, innovation and technology.
5.60 min. | 4.0 user rating		 www.station.lu Dont believe all the stories you hear about Luxembourg. Here you will discover a financial center that offers great business opportunities and fast and flexible responses to changing market situations, against a background of political and social stability. But there is more to discover than finance. Luxembourg is home not only to castles and banks, but also cultural treasures and great entertainment. Luxembourg is worth a trip, be it professional or private. You will meet open minded people that speak your language.
3.42 min. | 4.0 user rating
www.station.lu Luxembourg is your gateway to the European market with more than 550 million consumers. Due to its political and social stability, skilled and multilingual workforce, state-of-the-art infrastructures, excellent connectivity to foreign markets, favorable legal environment and an attractive tax climate, Luxembourg offers an exceptional range of assets and opportunities for doing business. On top of its renowned finance and service industry, Luxembourg has put emphasis on developing new sectors such as logistics, health and environmental technologies and continues investing in industries active in producing automotive components, materials and plastics. Support is being granted for research, development and innovation related activities as key factors for ensuring competitiveness and success of todays modern industries. Luxembourg offers an attractive environment for intellectual property management activities. Your prime business location
3.98 min. | 3.66 user rating		 www.station.lu Luxembourgs unique business framework has been key in attracting international groups for years. Making the most of EU opportunities, its regulatory context is one of the most attractive in the EU zone. In addition to a stable and competitive tax system, Luxembourg has developed a simple and responsive administrative environment, providing players with the flexibility that is essential in the globalised world. Luxembourg is also a country with a great political stability. This along with the traditionally close relationship between business and authorities, assists the set-up of new business activities and plays a strong role in their ongoing success. Luxembourgs central geographical location, its advanced transportation and impressive logistics and IT networks as well as its skilled and multilingual workforce have made the country a thriving business location.
3.42 min. | 3.0 user rating		 www.station.lu Luxembourg . Today the Grand Duchy of Luxembourg is no longer reticent in disclosing a fact to the wider world, which twenty years ago was known only to a few well-informed connoisseurs this is not only an exceptional place to live, but also a good place to enjoy wine. Wine which has been lovingly produced on the sunny slopes of the Moselle river for centuries. Based on great know-how and perfect maturity, the range of wines and sparkling wines are delighting an increasing number of people. Have fun and come share the pleasure of taste.
3.42 min. | 4.0 user rating		 www.station.lu Are you looking for an outstanding framework for your next congress, conference, seminar or business trip that combines state-of-the-art infrastructures and a great variety of cultural and leisure activities? Why not consider Luxembourg where competitive MICE facilities (MICE = Meetings, Incentives, Conferences and Exhibitions) are highlighted by a vibrant urban lifestyle, sweeping forests, enchanting landscapes and picturesque historical sites all reachable within a few minutes.
3.63 min. | 3.0 user rating		 www.luxembourgforict.lu - Close to 1000 high-level specialists from all over Europe attended the 2010 ICT Spring in Luxembourg on 15 and 16 March, while 30 exhibitors provided information about their products and services. Report includes statements from François Biltgen, Minister for Communications and Media, Jeannot Krecké, Minister of the Economy and Foreign Trade, Steve Wallage, Broadgroup, Klaus Holse Andersen, Microsoft, Yves Baguet, Clearstream, Patrick Vandenberghe, Arcelor-Mittal, Christian de Backer, TomTom, Ferdinand Kayser, SES ASTRA Europe and Fabien Amoretti, ICT Spring.
5.32 min. | 0 user rating

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Eurogroup chief: Exchange rate volatility harms global economy - Xinhua Tweet this news
Xinhua---LUXEMBOURG-, Oct. 18 (Xinhua) -- Excessive volatility in the exchange rates could harm global -economy-, the Eurogroup chief said on Monday as the euro touched ... - Date : Tue, 19 Oct 2010 01:08:22 GMT+00:00
EU debates new debt rules as euro surges - The Associated Press Tweet this news
The Associated Press---...- Monday in -Luxembourg- comes amid the specter of a possible global currency war, as governments around the world try to boost their -economies- by pushing ... - Date : Sun, 17 Oct 2010 16:13:27 GMT+00:00
G20 summit to confront climate change - The Korea Herald Tweet this news
The Korea Herald--The sessions for the first topic will be convened by Lakshmi Mittal, chairman and CEO of ArcelorMittal based in -Luxembourg-, while the second and third will ... - Date : Tue, 26 Oct 2010 10:26:02 GMT+00:00
Mittal calls on governments to kickstart growth - Financial Times Tweet this news
Financial Times--One difficulty facing the -Luxembourg--based company - which last year was responsible for 7 per cent of the steel consumed worldwide - has been rising costs ... - Date : Tue, 26 Oct 2010 12:28:35 GMT+00:00
ECB's Mersch: Internal Euro-Zone Demand Helping Recovery - Wall Street Journal Tweet this news
Wall Street Journal---LUXEMBOURG- (Dow Jones)--Stronger domestic demand in a number of euro-area countries is helping drive growth in the single-currency area, European Central ... - Date : Tue, 26 Oct 2010 16:52:05 GMT+00:00
Dollar Rallies After Luxembourg Boost (Really) - Wall Street Journal (blog) Tweet this news
Wall Street Journal (blog)---...- euro-zone strategy is to trot out -Luxembourg- Prime Minister Jean-Claude Juncker and have him talk about how terrible the European Union -economy- is. ... - Date : Fri, 15 Oct 2010 13:44:50 GMT+00:00
(ECB) Household Finance and Consumption - Opening remarks - Forex Hound Tweet this news
Forex Hound--It is a great pleasure to open this joint BCL/ECB conference in -Luxembourg-. This is the second conference organised in the context of the Eurosystem ... - Date : Tue, 26 Oct 2010 13:09:52 GMT+00:00
Hopes dim for stricter EU budget rules - The Associated Press Tweet this news
The Associated Press---LUXEMBOURG- (AP) � Yielding to French pressure, Germany on Monday softened its stance on stricter eurozone budget rules, officials said, angering ... - Date : Mon, 18 Oct 2010 14:10:02 GMT+00:00

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