Download Luxembourg - globalEDGE

Luxembourg
Introduction
Key Economic Facts
Luxembourg is a small, landlocked country in western
European bordered by Belgium, France, and Germany. The
government system is a constitutional monarchy; the chief
of state is the grand duke, and the head of
government is the prime minister.
Benefiting from its proximity to France,
Belgium, and Germany, Luxembourg has
a mixed economy in which the economy
includes high levels of openness and entrepreneurial
activity, combined with centralized economic planning and
government regulation. Luxembourg is a member of the
European Union (EU).
Income Level (by per capita
GNI):
Level of Development:
GDP, PPP (current international
$):
GDP growth (annual %):
GDP per capita, PPP (current
international $):
Manufacturing, value added (%
of GDP):
Current account balance (BoP,
current US$):
Inflation, consumer prices
(annual %):
Labor force, total:
Unemployment, total (% of
total labor force) (modeled ILO
estimate):
Imports of goods and services
(current US$):
Exports of goods and services
(current US$):
Location:
Capital City:
Chief of State:
Head of Govt.:
Currency:
Major Languages:
Western Europe
Luxembourg (+1 GMT)
Grand Duke Henri
Prime Minister Xavier Bettel
Euro (EUR)
Luxembourgish (official administrative
language and national language
(spoken vernacular)) 88.8%, French
(official administrative language)
4.2%, Portuguese 2.3%, German
(official administrative language)
1.1%, other 3.5%
Primary Religions: Roman Catholic 87%, other (includes
Protestant, Jewish, and Muslim) 13%
Calling Code: 352
Voltage: 220
Key Websites
Main Government Page:
Commerce Ministry:
Export Promotion Agency:
Investment Promotion
Agency:
gouvernement.lu
eco.public.lu
luxinnovation.lu
luxinnovation.lu
Risk Assessment (Provided by Coface)
High Income
Developed
$58.13 billion (2015)
3.53% (2015)
$102,051.68 (2015)
5.33% (2015)
$2.96 billion (2015)
0.30% (2016)
284,134 (2016)
5.94% (2016)
$115.06 billion (2015)
$133.81 billion (2015)
GDP Composition %
Agriculture
Industry
Manufacturing
Services
88
0
12
U.S. Embassy
5
*Although Manufacturing is included in the Industry figures, it is also separately
reported because it plays a critical role in economy.
Rankings
Index
Corruption Perceptions Index
Global Competitiveness Index
Global Enabling Trade Index
Index of Economic Freedom
International Logistics Performance Index (LPI)
Inward FDI Potential Index
KOF Index of Globalization
Networked Readiness Index (NRI)
Country rating: A1 - The political and economic situation is
very good. A quality business environment has a positive
influence on corporate payment behavior. Corporate default
probability is very low on average.
Business Climate rating: A2 - The business environment
is good. When available, corporate financial information is
reliable. Debt collection is reasonably efficient. Institutions
generally perform efficiently. Intercompany transactions
usually run smoothly in the relatively stable environment
rated A2.
Strengths
• Fiscally stable
• Skilled international workforce
• Quality infrastructure, attractive legal and fiscal
framework
• Well-performing international financial center
• High standard of living
Weaknesses
• Heavy dependence on large financial sector
• Economy vulnerable to Eurozone economic situation
• Future fiscal impact of an aging population
Rank
10 / 176
20 / 138
4 / 136
14 / 180
2 / 160
5 / 139
18 / 187
9 / 139
22 Boulevard Emmanuel Servais
L-2535 Luxembourg City
American Embassy Luxembourg, Unit 1410, APO AE
09126-1410
Tel: +352 46 01 23
http://luxembourg.usembassy.gov/
Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV