BEST BANKS 2014: EUROPE

BEST BANKS 2014: EUROPE

The region battled continuing recession or, at best, slow growth, a tightening regulatory environment and country-specific banking taxes or fines for past misdemeanors.

 
 
Source
Central bank

Central Bank of Luxembourg
Luxembourg is part of the Eurosystem and the European Central Bank

International Reserves

US$ 2.978 billion (Source: IMF; Data updated: 20124)

Gross Domestic Product - GDP

US$ 64 billion (2014 estimate)

GDP (Purchasing Power Parity)

44 billion of International dollars (2014 estimate)

Real GDP growth
2003 2004 2005 2006 2007 2008 2009 2010
1.5% 4.4% 5.3% 4.9% 6.6% -0.7% -5.6% 3.1%
2011 2012 2013 2014*        
1.9% -0.2% 2.0% 2.1%        

*Estimate

GDP per capita - current prices

US$ 116,134 (2014 estimate)

GDP per capita - PPP

$79,977 International Dollars (2014 estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2014*
0.04% 0.05% 0.06% 0.05% 0.05%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 0.3% 
  • industry: 13.3% 
  • services: 86.4% (2013 estimate)
Gross domestic expenditure on R&D; (% of GDP)

1.4% (2011)

Inflation
2011 2012 2013 2014*
3.7% 2.9% 1.7% 1.6%

*Estimate

Unemployment rate
2011 2012 2013 2014*
5.6% 6.1% 6.8% 7.1%

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2010 2011 2012 2013 2014*
19.5% 18.7% 21.7% 22.9% 24.1%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2010 2011 2012 2013 2013*
-0.8% 0.0% -0.6% 0.0% 0.1%

*Estimate 

Government bond ratings

Standard & Poor's: AAA

Moody's rating: Aaa

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Sept 2014)

Market value of publicly traded shares
2010* 2011 2012**
US$101.1 billion US$67.63 billion US$70.34 billion

*2010 Estimate    **2012 Estimate  

Largest companies in Luxembourg

ArcelorMittal, Tenaris, RTL Group, SES, Espirito Santo Financial, Ternium, Millicom International

 
 
Source
Current account balance

US$ 4.299 billion (2014 estimate)

Current account balance by percentage of GDP

6.7% of GDP (2014 estimate)

Exports as percent of GDP(Exports of goods and services)

175.7% (2013)

Shares in world total merchandising export

0.1% (2012)

Shares in world total commercial services export

1.64% (2012)

Total exports

US$16 billion (2013 estimate) 

Export commodities

machinery and equipment, steel products, chemicals, rubber products, glass

Total imports

US$23.120 billion (2013 estimate) 

 
 
Source
Import commodities

minerals, metals, foodstuffs, quality consumer goods

Exports - major partners

Germany 21.5%, France 15.5%, Belgium 14.5%, UK 5.8%, Italy 5.6%, Switzerland 4.7% (2012)

Imports - major partners

Belgium 30.6%, Germany 23.6%, France 10.4%, US 8.3%, China 7.2%, Netherlands 5.1% (2012)

FDI inflows
2011 2012 2013
US$18,116 million US$9,527 million US$30,075 million
FDI outflows
2011 2012 2013  
US$7,750 million US$3,063 million US$21,626 million  
Value of cross-border M&A; by country of purchaser
2010 2011 2012 2013
US$1,558 million US$1,110 million US$-716 million US$3,794 million
Cross-border M&A; deals worth over $3 billion completed in 2012 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A; click here )

Cross-border M&A; deals worth over $3 billion completed in 2013 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A; click here )

Best countries for doing business World Bank/IFC Doing Business Project

Economies are ranked on their ease of doing business, from 1 - 189. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 60 out of 189 countries (2013)

Subcategories:

Starting a business: 103 out of 189 countries

Enforcing Contracts: 1 out of 189 countries

Registering Property: 124 out of 189 countries

Getting credit: 170 out of 189 countries

Protecting investors: 128 out of 189 countries

Trading across border: 41 out of 189 countries

Paying Taxes: 15 out of 189 countries

Dealing with Construction Permits: 37 out of 189 countries

Getting Electricity: 66 out of 189 countries

Resolving Insolvency: 53 out of 189 countries

(2013)

Global competitiveness ranking(ranking by country on a basis of 144, the first is the best)

19

(2014-2015)

 

 

Index of Economic FreedomWSJ and Heritage Foundation

Ranking: 16 Score: 74.2 (Mostly Free) (2014)

(100=totally free 0=totally repressed )

 
 
Source
Time zone

UTC+1

Total area

2,586 sq km

Capital

Luxembourg 

Currency

euros (EUR) 

Government type

constitutional monarchy 

Languages

Luxembourgish (official administrative language and national language (spoken vernacular)), French (official administrative language), German (official administrative language)

Religions

Roman Catholic 87%, other (includes Protestant, Jewish, and Muslim) 13% (2000)

Total population
 
1990 2000 2010 2014* 2019**
0.383 million 0.437 million 0.508 million 0.552 million 0.609 million

*Estimate    **Forecast

 
 
Source
Urban population as % of total population
1960 1980 2000 2013
69.6% 80% 84% 90%
Population median age

39.6 years (2014 estimate)

Population growth rate

1.12% (2014 est.)

Life expectancy

80.01 years (2014 estimate)

Adult literacy

100% (2000 estimate)

% of population living on less than $2 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

Freedom House rating

Political Rights: 1
Civil Liberties: 1 (2014)

(1 represents the most free, 7 the least free)

Source
Total telephone subscribers as % of population

202.37% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population

93.78% (2013)

Cost of living - Mercer index(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Luxembourg: 56th (2014)

Source
CO2 emissions(Metric tons of CO2 per capita)

21.4 (2010)

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