Compare Luxembourg (2007) - Luxembourg (2008)

Compare Luxembourg (2007) z Luxembourg (2008)

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	Luxembourg (2007)	Luxembourg (2008)

Budget	revenues: $18.68 billion expenditures: $18.65 billion (2006 est.)	revenues: $14.29 billion expenditures: $13.92 billion (2007 est.)
Economy - overview	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, has suffered from the global economic slump, the country enjoys an extraordinarily high standard of living - GDP per capita ranks second in the world.	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 first in the world. After two years of strong economic growth in 2006-07, Luxembourg's economy probably will slow in 2008 as a result of turmoil in the world financial markets, but growth will remain above the European average.
Exchange rates	euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002)	euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)
Executive branch	chief of state: Grand Duke HENRI (since 7 October 2000); Heir Apparent Prince GUILLAUME (son of the monarch) head of government: Prime Minister Jean-Claude JUNCKER (since 1 January 1995); Deputy Prime Minister Jean ASSELBORN (since 31 July 2004) cabinet: Council of Ministers recommended by the prime minister and appointed by the monarch elections: none; the monarch is hereditary; following popular elections to the Chamber of Deputies, the leader of the majority party or the leader of the majority coalition is usually appointed prime minister by the monarch; the deputy prime minister is appointed by the monarch; they are responsible to the Chamber of Deputies note: government coalition - CSV and LSAP	chief of state: Grand Duke HENRI (since 7 October 2000); Heir Apparent Prince GUILLAUME (son of the monarch) head of government: Prime Minister Jean-Claude JUNCKER (since 20 January 1995); Deputy Prime Minister Jean ASSELBORN (since 31 July 2004) cabinet: Council of Ministers recommended by the prime minister and appointed by the monarch elections: none; the monarch is hereditary; following popular elections to the Chamber of Deputies, the leader of the majority party or the leader of the majority coalition is usually appointed prime minister by the monarch; the deputy prime minister is appointed by the monarch; they are responsible to the Chamber of Deputies note: government coalition - CSV and LSAP
GDP - real growth rate	6.2% (2006 est.)	5% (2007 est.)
Household income or consumption by percentage share	lowest 10%: NA% highest 10%: NA% (2000)	lowest 10%: 3.5% highest 10%: 23.8% (2000)
Inflation rate (consumer prices)	2.7% (2006 est.)	2.1% (2007 est.)
International organization participation	ACCT, AsDB, Australia Group, Benelux, CE, EAPC, EBRD, EIB, EMU, ESA, EU, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, NATO, NEA, NSG, OAS (observer), OECD, OIF, OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNRWA, UPU, WCL, WCO, WEU, WHO, WIPO, WMO, WTO, ZC	ACCT, ADB (nonregional members), Australia Group, Benelux, CE, EAPC, EBRD, EIB, EMU, ESA, EU, FAO, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, NATO, NEA, NSG, OAS (observer), OECD, OIF, OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, UNRWA, UPU, WCL, WCO, WEU, WHO, WIPO, WMO, WTO, ZC
Labor force	203,000 of whom 121,600 are foreign cross-border workers commuting primarily from France, Belgium, and Germany (2006 est.)	205,000 of whom 121,600 are foreign cross-border workers commuting primarily from France, Belgium, and Germany (2007 est.)
Pipelines	gas 155 km (2006)	gas 155 km (2007)
Political parties and leaders	Action Committee for Democracy and Justice or ADR [Gast GIBERYEN]; Christian Social People's Party or CSV [Francois BILTGEN] (also known as Christian Social Party or PCS); Democratic Party or DP [Claude MEISCH]; Green Party [Francois BAUSCH]; Luxembourg Socialist Workers' Party or LSAP [Alex BODRY]; dei Lenk/la Gauche (the Left); other minor parties	Alternative Democratic Reform Party or ADR [Robert MENLEN]; Christian Social People's Party or CSV [Francois BILTGEN] (also known as Christian Social Party or PCS); Democratic Party or DP [Claude MEISCH]; Green Party [Francois BAUSCH]; Luxembourg Socialist Workers' Party or LSAP [Alex BODRY]; dei Lenk/la Gauche (the Left); other minor parties
Telephone system	general assessment: highly developed, completely automated and efficient system, mainly buried cables domestic: nationwide cellular telephone system; buried cable international: country code - 352; 3 channels leased on TAT-6 coaxial submarine cable (Europe to North America)	general assessment: highly developed, completely automated and efficient system, mainly buried cables domestic: nationwide cellular telephone system; market for mobile-cellular phones is virtually saturated with roughly 150 cellular phones per 100 persons international: country code - 352
Unemployment rate	4.1% (2006 est.)	4.4% (2007 est.)

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