Economy
The economy of Luxembourg is stable and prospers, the rate of unemployment nowadays makes approximately 3 %. The post-war history of economy is connected with metallurgical area and gradual, but painful enough process of its replacement by sector of financial services.
Iron ore in Luxembourg has been opened in 1850. This date is considered a date of birth of metallurgical area, with which the connected condition of economy большей parts ХХ century. Despite recession in 1980 х years, metallurgy provides as before the highest employment and 25 % of export incomes. After war the government has decided to change an economy course. However, as well as in the majority of the developed countries, services developed from industrial production. Thus, in the country the boom of financial services to which have appreciably helped tax a course has begun. In Luxembourg is more than 12 thousand holding companies, and also 1300 investment funds and 220 banks. Besides, there is a sector of release of the European bonds.
The small sizes and country arrangements became the reason of its close integration with neighbours. Since 1921 Luxembourg supports close cooperation with Belgium, and after the Second World War the Netherlands therefore the Benelux countries were formed have joined this union. This association became a prototype of the European Union.
In 1995 total internal product (gross national product) it was estimated in 17,1 bln. dollars, or 44 172 dollars at the rate on soul of the population (against 26 556 dollars to Belgium and 43 233 dollars in Switzerland). Proceeding from parity of purchasing capacity, an expense of the population of Luxembourg represented on each inhabitant 16 827 dollars (to the USA - 17 834 dollars). Annual growth of gross national product on 1990 beginnings х on the average was made years by 5,5 %, that much more above an average index for EU member states.
In 1997 in the country it is noted the highest in the world gross national product indicator per capita - 44,2 thousand dollars.
