Europe > Luxembourg > Economy

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Agriculture > products barley, oats, potatoes, wheat, fruits, wine grapes; livestock products
Business efficiency	80.311		[10th of 51]
Child poverty	4.5		[19th of 23]
Distribution of family income > Gini index	26		[35th of 43]
Economic aid > Donor	$291,000,000.00		[22nd of 26]
Economic freedom	3.3		[4th of 156]
Economy > Overview This stable, high-income economy - benefiting from its proximity to 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 28% 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 about 60% of its labor force. Although Luxembourg, like all EU members, suffered from the global economic slump in the early part of this decade, the country continues to enjoy an extraordinarily high standard of living - GDP per capita ranks second in the world, after Qatar. After two years of strong economic growth in 2006-07, turmoil in the world financial markets will slow Luxembourg's economy in 2008, but growth will remain above the European average.
Exports	$18,420,000,000.00		[67th of 189]
GDP	$41,382,130,000.00		[59th of 203]
GDP > PPP	$30,923,000,000.00		[87th of 163]
GDP > Real growth rate	4.5%		[117th of 198]
GDP growth > annual %	4.03 annual %		[101st of 187]
GINI index	30.76		[31st of 40]
Gross National Income	$17,571,000,000.00		[63rd of 172]
Human Development Index	0.949		[4th of 178]
Income distribution > Poorest 10%	4%		[13th of 114]
Income distribution > Richest 10%	22%		[106th of 114]
Population below median income	3.9		[27th of 28]
Public debt	6.4 % of GDP		[114th of 121]
Tourist arrivals	771,000		[58th of 152]

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