compensated for the decline in steel.
Services, especially banking, account for a substantial proportion
of the economy. Agriculture is based on small family-owned farms.
The economy depends on foreign and trans-border workers for 30% of
its labor force. Luxembourg has a custom union with Belgium and the
Netherlands, and, as a member of the EU, enjoys the advantages of
the open European market. It joined with 10 other EU members to
launch the euro on 1 January 1999.

GDP: purchasing power parity - $15.9 billion (2000 est.)

GDP - real growth rate: 5.7% (2000 est.)

GDP - per capita: purchasing power parity - $36,400 (2000 est.)

GDP - composition by sector: agriculture: 1%

industry: 30%

services: 69% (2000 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: NA%

highest 10%: NA%

Inflation rate (consumer prices): 7.8% (2000 est.)

Labor force: 248,000 (of whom 70,200 are foreign cross-border
workers primarily from France, Belgium, and Germany) (2000)

Labor force - by occupation: services 83.2%, industry 14.3%,
agriculture 2.5% (1998 est.)

Unemployment rate: 2.7% (2000 est.)

Budget: revenues: $5.6 billion

expenditures: $5.6 billion, including capital expenditures of $NA
(2000 est.)

Industries: banking, iron and steel, food processing, chemicals,
metal products, engineering, tires, glass, aluminum

Industrial production growth rate: 7.8% (2000 est.)

Electricity - production: 648 million kWh (1999)

Electricity - production by source: fossil fuel: 36.88%

hydro: 53.09%

nuclear: 0%

other: 10.03% (1999)

Electricity - consumption: 6.149 billion kWh (1999)

Electricity - exports: 655 million kWh (1999)

Electricity - imports: 6.201 billion kWh (1999)

Agriculture - products: barley, oats, potatoes, wheat, fruits, wine
grapes; livestock products

Exports: $7.6 billion (f.o.b., 2000)

Exports - commodities: machinery and equipment, steel products,
chemicals, rubber products, glass

Exports - partners: EU 75% (Germany 25%, France 21%, Belgium 13%, UK
8%, Italy 6%, Netherlands 5%), US 4% (1999)

Imports: $10 billion (c.i.f., 2000)

Imports - commodities: minerals, metals, foodstuffs, quality
consumer goods

Imports - partners: EU 81% (Belgium 35%, Germany 26%, France 12%,
Netherlands 4%), US 9% (1999)

Debt - external: $NA

Economic aid - donor: ODA, $160 million (1999)

Currency: Luxembourg franc (LUF);