Luxembourg: Difference between revisions
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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.<ref name="CIA_LU" /> | 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 [[Eurozone|euro currency area]].<ref name="CIA_LU" /> | ||
==Economical characteristics== | ==Economical characteristics== | ||
Revision as of 21:18, 2 December 2010
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.[1]
Economical characteristics
- Currency: Euro (ISO code: EUR)
- Central bank discount rate: 3% (31 December 2008)[1]
- is part of the Eurozone
Statistics
| Statistic / Year | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|
| GDP (million USD)[2] | 21 188 | 20 269 | 20 199 | 22 579 | 29 158 | 34 169 | 37 604 | 42 556 | 49 835 | 53 704 |
| Govt. debt (% of GDP)[3] | 4.881 | 4.700 | 3.849 | 4.046 | 3.602 | 4.394 | 4.763 | |||
| Govt. revenue (% of GDP)[4] | 38.758 | 39.804 | 40.593 | 39.784 | 38.527 | 38.258 | 38.616 | 37.214 | 38.112 | |
| Govt. expenses (% of GDP)[5] | 35.019 | 33.806 | 35.444 | 36.348 | 37.009 | 38.248 | 37.028 | 34.790 | 34.127 | |
| Debt to revenue (years) | 0.120 | 0.118 | 0.100 | 0.106 | 0.093 | 0.118 | 0.125 |
References
Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.
- ↑ 1.0 1.1 Cite error: Invalid
<ref>tag; no text was provided for refs namedCIA_LU - ↑ World Bank. "Luxembourg: GDP", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Luxembourg: government debt", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Luxembourg: government revenue", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Luxembourg: government expenses", from World Bank Data. Referenced 2010-09-29.
External links
- Luxembourg on Wikipedia
- Central bank of Luxembourg
- BBC country profile