1UpTravel


 

You are here >1uptravel > International > Europe > Luxembourg



ADVERTISEMENT

Country

 At a Glance

  Introduction

  Topography

  History & Culture

  Life

  Cuisine

  Holidays

  Festivals

  Embassies

  Administration

  Newstand


 Worth a Visit !!

  Cities

  Attractions

  Maps & Cities

  Shopping

  Eating Out

  Recreation

  Essentials

  Travel Links


 Country Facts

  Introduction

  Geography

  People

  Government

  Economy

  Communications

  Transportation

  Military

  Transnational issues


Related

  Luxembourg Guide
  Luxembourg Maps
  Luxembourg Hotels
  Luxembourg Flag
  More Luxembourg Flags
  Luxembourg Geography
  Luxembourg Travel Warning



Travel & Tourism . Tourist Guide to the Country

Luxembourg Economy




Luxembourg    Economy Top of Page
Economy - overview: The stable, high-income economy features solid growth, low inflation, and low unemployment. The industrial sector, initially dominated by steel, has become increasingly diversified to include chemicals, rubber, and other products. Growth in the financial sector has more than compensated for the decline in steel. Services, especially banking, account for a substantial proportion of the economy. Agriculture is based on small family-owned farms. The economy depends on foreign and trans-border workers for 30% of its labor force. Luxembourg has a custom union with Belgium and the Netherlands, and, as a member of the EU, enjoys the advantages of the open European market. It joined with 10 other EU members to launch the euro on 1 January 1999.
GDP: purchasing power parity - $15.9 billion (2000 est.)
GDP - real growth rate: 5.7% (2000 est.)
GDP - per capita: purchasing power parity - $36,400 (2000 est.)
GDP - composition by sector: agriculture:  1%

industry:  30%

services:  69% (2000 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%:  NA%

highest 10%:  NA%
Inflation rate (consumer prices): 7.8% (2000 est.)
Labor force: 248,000 (of whom 70,200 are foreign cross-border workers primarily from France, Belgium, and Germany) (2000)
Labor force - by occupation: services 83.2%, industry 14.3%, agriculture 2.5% (1998 est.)
Unemployment rate: 2.7% (2000 est.)
Budget: revenues:  $5.6 billion

expenditures:  $5.6 billion, including capital expenditures of $NA (2000 est.)
Industries: banking, iron and steel, food processing, chemicals, metal products, engineering, tires, glass, aluminum
Industrial production growth rate: 7.8% (2000 est.)
Electricity - production: 648 million kWh (1999)
Electricity - production by source: fossil fuel:  36.88%

hydro:  53.09%

nuclear:  0%

other:  10.03% (1999)
Electricity - consumption: 6.149 billion kWh (1999)
Electricity - exports: 655 million kWh (1999)
Electricity - imports: 6.201 billion kWh (1999)
Agriculture - products: barley, oats, potatoes, wheat, fruits, wine grapes; livestock products
Exports: $7.6 billion (f.o.b., 2000)
Exports - commodities: machinery and equipment, steel products, chemicals, rubber products, glass
Exports - partners: EU 75% (Germany 25%, France 21%, Belgium 13%, UK 8%, Italy 6%, Netherlands 5%), US 4% (1999)
Imports: $10 billion (c.i.f., 2000)
Imports - commodities: minerals, metals, foodstuffs, quality consumer goods
Imports - partners: EU 81% (Belgium 35%, Germany 26%, France 12%, Netherlands 4%), US 9% (1999)
Debt - external: $NA
Economic aid - donor: ODA, $160 million (1999)
Currency: Luxembourg franc (LUF); euro (EUR)

note:  on 1 January 1999, the EU introduced the euro as a common currency that is now being used by financial institutions in Luxembourg at a fixed rate of 40.3399 Luxembourg francs per euro and will replace the local currency for all transactions in 2002
Currency code: LUF; EUR
Exchange rates: euros per US dollar - 1.0659 (January 2001), 1.0854 (2000), 0.9386 (1999); Luxembourg francs per US dollar - 34.77 (January 1999), 36.299 (1998), 35.774 (1997), 30.962 (1996); note - the Luxembourg franc is at par with the Belgian franc, which circulates freely in Luxembourg
Fiscal year: calendar year

 

Countryfacts Information Courtesy: CIA Worldbook








Make 1Up Travel your HomepageSend this Page to a FriendGo to Top of PagePrint this PageAdd 1Up Travel to your Favorites


CHANNELS

Compare Country Info Hotel Directory Geography Flags World Maps Travel Warnings National Parks

DESTINATIONS

Asia Africa Caribbean Middle East North America South America Central America Oceania Pacific Europe Polar Regions

PHOTO SPECIAL

Destinations Monuments Ancient Wonders Modern Wonders Natural Wonders

UTILITIES

World Time ISD Codes Travel Links Link Exchange

 



Disclaimer: Although we've tried to make the information on this web site as accurate as possible, we accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities before you travel.

Copyright 1Up Travel All Rights Reserved.
Go Up

Privacy Policy