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Luxembourg is at the heart of Europe and offers political and social stability, a skilled and multilingual workforce, a favourable legal environment and an attractive tax climate. The Grand Duchy has followed an open economic policy making it a favoured location for a wide range of international companies and attracting extensive foreign capital investment.
The most significant part of the country’s economy is its flourishing financial sector which comprise of more than 200 banks, 1,900 investment funds and 20,000 holding companies.
Luxembourg enjoys one of the highest standards of living in the World, low inflation and unemployment rates and a balanced budget. 40 per cent of the country’s resident population are foreigners.
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COUNTRY FACTS |
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Language |
Luxembourgish/French/German |
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Population |
500.000 |
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Population density |
181 per square kilometre |
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Capital |
Luxembourg |
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Head of State |
Grand Duke Henri |
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Government |
Conservative |
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Government Leader |
Jean-Claude Juncker |
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ECONOMIC FIGURES |
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GDP per Capita (Global Rating) |
$106,000 (No. 1) |
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Economic Growth (year on year) |
5.3% |
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Unemployment |
5.0% |
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Inflation (year on year) |
2.6% |
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Consumer Confidence |
4 |
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Global Competitiveness Index |
Rank 20 |
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SECTORS |
Contribution to GDP |
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Agriculture |
0.4% |
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Industry |
13.6% |
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Services |
86.0% |
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EXPORTS |
$18 billion (2008) |
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Exported commodities |
Iron and steel |
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Industrial machinery |
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Telecommunications |
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IMPORTS |
$25 billion (2008) |
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Imported commodities |
Cars |
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Iron and steel |
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Petroleum (not crude) |
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SOURCE Eurostat/IMF/World Economic Forum |
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Published in December 2010 |
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