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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 - GDP per capita ranks first in the world. |
Trade Fairs,
Exhibitions, Conferences: |
Luxexpo
Luxexpo is the most important exhibition centre in the surrounding region and is the only one in the country to possess the necessary infrastructure to hold trade shows, trade fairs and congresses cum exhibitions. |
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