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The Grand Duchy of Luxembourg, a constitutional monarchy, is an independent sovereign state, tucked between Belgium, France and Germany (cf Luxembourg in Europe map). The country is 84 km (51.7 miles) long and 52 km (32.5 miles) wide, encompassing an area of 2586 square kilometres (999 square miles) with a population of 502 066 (official estimate Jan 1, 2010) .
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1) GEOGRAPHYA) The country is divided into two clearly defined REGIONS:
B) River Network:
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| Temperature Day (°C) |
Temperature Night (°C) |
Sunshine (hours) |
Rain (days) | |
| January | 5 | 0 | 2 | 12 |
| February | 6 | 0 | 3 | 10 |
| March | 10 | 2 | 4 | 11 |
| April | 13 | 4 | 6 | 12 |
| May | 19 | 8 | 7 | 10 |
| June | 21 | 10 | 7 | 11 |
| July | 23 | 12 | 6 | 11 |
| August | 22 | 12 | 6 | 11 |
| September | 20 | 10 | 5 | 10 |
| October | 14 | 7 | 4 | 12 |
| November | 8 | 2 | 2 | 12 |
| December | 6 | 1 | 1 | 13 |
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Average
1951-1990
|
January
|
April
|
July
|
October
|
12
months
|
| Temperature (Degrees C) | |||||
|
|
0.8
|
8.3
|
17.5
|
9.5
|
9.0
|
|
|
9.5
|
22.0
|
30.7
|
20.7
|
20.5
|
|
|
-9.5
|
-2.2
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6.9
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-0.4
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-1.3
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| Relative Humidity (%) |
89.0
|
74.0
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73.0
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86.0
|
81.0
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| Hours of Sunshine |
38.6
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158.7
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200.5
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94.7
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1430.0
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| Rainfall (mm) |
69.0
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50.6
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62.9
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63.8
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782.2
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National
airline : Luxair
(see also:
Luxembourg for business)
It was the
discovery of the iron ore around 1850 which marked the turning point
for Luxembourg and meant its economic take-off. An important steel industry
came into being in the south-western corner of the country, drawing
tens of thousands of foreign workers into the ore mines and steel factories,
and bringing prosperity to the whole country.
Steel exports constitute one quarter of the value of Luxembourg's export
trade. Luxembourg is home to the ArcelorMittal
group (previously known as ARBED), the largest private employer in the
country and the number one steel company in the world with a turnover
of 88.6 billion dollars in 2006. The company holds leadership positions
in its main markets: automotive, construction, household appliances
and packaging as well as general industry. ArcelorMittal has 320,000
employees in over 60 countries, and produces around 10% of world steel
output.
Since the end of World War II, great efforts have been made to bring
diversity into the former monolithic industry. Aluminium, glass,
cement, tyres, magnetic tapes and computer manufacturers have established
plants, dams have been built in Esch-sur-Sûre and Rosport; Vianden
houses Europe's second largest pumping station producing peak hydro-electricity;
the ASTRA satellites are controlled
from Luxembourg. Tax rebates, help in obtaining credits, and a host
of other incentives are offered to companies intending to set up plant
in the Grand Duchy. However, despite these continuing efforts, Luxembourg's
industrial labour is dropping in numbers, marking a slide into the service
sector. (see also: Luxembourg
in Figures )
Luxembourg plays a major role as a prominent international financial
centre. Numerous banks and important
investment trusts have settled in the capital, as the fiscal legislation,
which dates back to 1929, favours Banks and Holding Companies. Luxembourg
as an international centre numbers more than 14000 domiciled Holding
Companies, some 8500 investment funds and 160 banks which represent
the greatest banking concentration in the European Union.
The Luxembourg
financial sector comprises 154 credit institutions from 26 different
countries holding Balance Sheet assets of over EUR 843 billion as at
30 September 2006. The country represents the first International Private
Banking centre in "Euro-Land" and the second largest Investment
Funds industry after the USA and ranks eighth among the largest financial
centres in the world.
In parallel with the growth of private banking, which year on year emerges
as the core activity for Luxembourg's banks, the development of other
sectors, such as Investment Fund Promotion and Services, as well as
Life Insurance are reinforcing Luxembourg's claim to be Europe's premier
centre for all forms of Personal Investment business.
Tourism contributes significantly
to the National Accounts. (see also: Tourism
Statistics)
Its economic structure and its geographical position have necessarily
led Luxembourg into a close co-operation with other countries, and particularly
with Belgium since 1921, and with Belgium and the Netherlands since
the second World War, with the creation of BENELUX, an economic Union
which was the first step towards the present larger European Union.
See also:
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your further information:
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©
Serge Moes
last modified: July 13, 2010