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Luxembourg
| Economy Overview |
| This stable, high-income economy - in between France, Belgium, and Germany - 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, which now accounts for about 22% of GDP, has more than compensated for the decline in steel. Most banks are foreign-owned and have extensive foreign dealings. Agriculture is based on small family-owned farms. The economy depends on foreign and cross-border workers for more than 30% of its labor force. Although Luxembourg, like all EU members, has suffered from the global economic slump, the country enjoys an extraordinarily high standard of living. |
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| Economy Statistics |
| Exports: |
$13.4 billion f.o.b. (2003) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
machinery and equipment, steel products, chemicals, rubber products, glass [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
Germany 22.1%, France 20.1%, Belgium 10.2%, UK 8.4%, Italy 7.3%, Spain 5.9%, Netherlands 4.3% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$16.3 billion c.i.f. (2003) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
minerals, metals, foodstuffs, quality consumer goods [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Belgium 29.8%, Germany 22.6%, China 12.6%, France 12%, Netherlands 4.2% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Luxembourg Chamber of Commerce |
| Address: |
7, Rue Alcide de Gasperi
Luxembourg Kirchberg |
| Phone: |
42 39 39 – 1 |
| Fax: |
43 83 26 |
| Website: |
http://www.cc.lu/ |
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