Careers, Jobs and Education Resources for: 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. (from the CIA)
 
 
 

Economic 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, 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 will slow luxembourg's economy in 2008, but growth will remain above the european average.

Environmental Issues

Air and water pollution in urban areas, soil pollution of farmland

Government Type

Constitutional monarchy

Population

486,006 (july 2008 est.)

Location

Western europe, between france and germany

Area

Total: 2,586 sq km land: 2,586 sq km water: 0 sq km

Slightly smaller than rhode island

Country Aliases

Conventional long form: grand duchy of luxembourg conventional short form: luxembourg local long form: grand duche de luxembourg local short form: luxembourg

Capital

Name: luxembourg geographic coordinates: 49 36 n, 6 07 e time difference: utc+1 (6 hours ahead of washington, dc during standard time) daylight saving time: +1hr, begins last sunday in march; ends last sunday in october

Military Service

17-25 years of age for male and female voluntary military service; soldiers under 18 are not deployed into combat or with peacekeeping missions; no conscription; luxembourg citizen or eu citizen with 3-year residence in luxembourg (2008)

International Disputes

None

Sources: Central Intelligence Agency (CIA)