most Luxembourgers and is used in the media. Top 3 Exported Goods (2018): Iron & Steel, Industrial Machinery, and Plastics, Banking and Financial Services; Iron and Steel; Information Technology; Telecommunications, GDP Country Rank Luxembourg's success can be attributed to a succession of positive, long-term, focused, and innovative government policies aiming to enhance business and diversity of the country's economy. They include jugged hare and Ardennes ham. Promote your services by providing your own The economic structure of Luxembourg is based mainly in banking, insurance, and the steel industry. All rights reserved. The industrial sector, initially dominated by steel, has become increasingly diversified to include chemicals, machinery and equipment, rubber, automotive components, and other products.

Visit our. It is largely made up of In 1921, Luxembourg and Belgium formed the Belgium–Luxembourg Economic Union (BLEU) to create a regime of inter-exchangeable currency and a common customs, foreshadowing later efforts at European integration. Member of the eurozone since 1 January 1999. Capital gains are subject to the normal CIT rate. administrative language. Luxembourg experienced uneven economic growth in the aftermath of the global economic crisis that began in late 2008. Please select at least two territories for comparison. They include jugged hare and Ardennes ham. unicameral parliamentary system. Located at the heart of Europe, Luxembourg has established a reputation as a favoured location for a wide range of international companies from a variety of sectors with diverse business models. For example, Luxembourg’s Exports rank is higher than 81.62% of the countries in the dataset. Financial sector accounts for 27% of GDP. Likewise, changes to the way EU members collect taxes from e-commerce has cut Luxembourg's tax revenues, requiring the government to raise additional levies and to reduce some direct social benefits. the information is not currently provided in this chart). Luxembourgish, the national For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy.

No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law, PwC does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it. The small, stable, high-income economy, benefiting from its proximity to France, Belgium, and Germany, has historically featured solid growth and low unemployment. the territory does not have the indicated tax or requirement), NP stands for Not Provided (i.e. Presidency of the Council: Luxembourg has held the revolving presidency of the Council of the EU 12 times between 1960 and 2015. The official languages of Luxembourg are Luxembourgish, French, and German. Luxembourg is a unique gateway to the European market, 500 million plus consumers (and around 70% of the EU's wealth) are concentrated in a 700-kilometre area around the Grand Duchy. This approach has allowed Luxembourg to offer companies exceptional opportunities for doing business in Europe. The Grand Duchy of Luxembourg was one of the six founding countries of the European Economic Community (later the European Union), and in 1999 it joined the euro currency area. Please try again. The industrial sector, initially dominated by steel, has become increasingly diversified to include chemicals, rubber, and other products.

Luxembourg's GDP contracted 3.6% in 2009, rebounded in 2010-12, fell again in 2013-14, but recovered in 2015. Luxembourg is the most economically developed country with the world's highest GDP. Many of Luxembourg's

103/196 (2018).

This small, stable, high-income economy has historically featured solid growth, low inflation, and low unemployment.


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