Such small country, that has only territory of 2 586 square kilometers, has the second highest GDP level for one person on the world after Qatar– 68.800 of dollars per inhabitant.There are two main sectors in the Luxembourg economy – banking and steel industry. Since the taxes there are very low, there are 155 banks with 23.000 employees (it is 10 percent of all the labor force). The unemployment rate in Luxembourg is not high, an average of 3,2 percent since 2006.
The GDP is getting lower since 2006 because of the economical sitback. Due to the fact, that one of the major industries is banking, the over world bank bankruptcies had an effect on Luxembourg also.The average working time varies from 1662 annual hours per worker in 2001 to 1542 hours per worker in 2007. It makes to have Luxembourg one of the lowest working hours having country as Netherlands, having an average of 6,1 hours worked per day.
All the things considered, countries economy is stable, there is no recession and the unemployment is not high, the economy is growing.
2016-09-26 04:14:59
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