is based on small family-owned farms. Luxembourg has
especially close trade and financial ties to 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--$13.9 billion (1998 est.)

GDP--real growth rate: 2.9% (1998 est.)

GDP--per capita: purchasing power parity?$32,700 (1998 est.)

GDP--composition by sector:
agriculture: 1%
industry: 22%
services: 77% (1998 est.)

Population below poverty line: NA%

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

Inflation rate (consumer prices): 1.4% (1998)

Labor force: 226,500 (one-third of labor force is foreign
workers, mostly from Portugal, Italy, France, Belgium, and Germany)
(1998 est.)

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

Unemployment rate: 3% (1998 est.)

Budget:
revenues: $5.46 billion
expenditures: $5.44 billion, including capital expenditures of $NA
(1997 est.)

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

Industrial production growth rate: 3.3% (1995 est.)

Electricity--production: 1.158 billion kWh (1997)

Electricity--production by source:
fossil fuel: 90.12%
hydro: 9.88%
nuclear: 0%
other: 0% (1996)

Electricity--consumption: 5.381 billion kWh (1996)

Electricity--exports: 800 million kWh (1996)

Electricity--imports: 5.8 billion kWh (1996)

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

Exports: $7.1 billion (f.o.b., 1996)

Exports--commodities: finished steel products, chemicals, rubber
products, glass, aluminum, other industrial products

Exports--partners: Germany 28%, France 18%, Belgium 15%, UK 7%,
Netherlands 5%

Imports: $9.4 billion (c.i.f., 1996)

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

Imports--partners: Belgium 38%, Germany 25%, France 11%,
Netherlands 4%

Debt--external: $NA

Economic aid--donor: ODA, $65 million (1995)

Currency: 1 Luxembourg franc (LuxF) = 100 centimes; note--centimes
no longer in use

Exchange rates: Luxembourg francs (LuxF) per US$1--34.77 (January
1999), 36.299 (1998), 35.774 (1997), 30.962 (1996), 29.480 (1995),
33.456 (1994); note-