| Info about Luxembourg | |
Founded in 963, Luxembourg became a grand duchy in 1815 and an independent state under the Netherlands. It lost more than half of its territory to Belgium in 1839, but gained a larger measure of autonomy. Full independence was attained in 1867. Overrun by Germany in both World Wars, it ended its neutrality in 1948 when it entered into the Benelux Customs Union and when it joined NATO the following year. In 1957, Luxembourg became one of the six founding countries of the European Economic Community (later the European Union), and in 1999 it joined the euro currency area.
| | Languages | | Luxembourgish (national language), German (administrative language), French (administrative language) | | Ethnic division | | Luxembourger 63.1%, Portuguese 13.3%, French 4.5%, Italian 4.3%, German 2.3%, other EU 7.3%, other 5.2% (2000 census) | | HIV/AIDS prevalence rate | | 0.2% (2001 est.) | | Climate info | | modified continental with mild winters, cool summers | | Natural Resources | | iron ore (no longer exploited), arable land | | Economic data | | 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 slowed Luxembourg's economy in 2008, but growth remained above the European average and is likely to remain so in 2009. | | Environmental issues | | air and water pollution in urban areas, soil pollution of farmland |
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