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The labour productivity level of Luxembourg is one of the highest in Europe. OECD, 2012. The economy of Luxembourg is largely dependent on the banking, steel, and industrial sectors. Citizens of Luxembourg enjoy the highest per capita gross domestic product in the world, according to an IMF estimate in 2022. [24]
Luxembourg resident companies have to pay taxes on their worldwide income once foreign taxes (where the company is present and earns an income) are deducted. Non-resident companies: Luxembourg considers a company to be non-resident if its principle place of management is located outside the country. The only companies that are tax-free are:
Source: World Development Indicators: Contribution of natural resources to gross domestic product (2011, source is unavailable) Total natural resources rents (% of GDP) by country, 2013 Oil rents (% of GDP) by country, 2013
The Luxembourg Income Study was created in 1983 by Americans Timothy Smeeding, an economist, Lee Rainwater, a sociologist, and Luxembourgian Gaston Schaber, a psychologist. [1] Smeeding, Rainwater, and Schaber developed LIS to aggregate household-level income data for the purpose conducting cross-national comparative research across a set of ...
The table initially ranks each country or territory with their latest available year's estimates, and can be re-ranked by any of the sources. * Nearly all country links in the table connect to articles titled "Income in (country or territory)" or to "Economy of (country or territory)".
Luxembourg is part of the Schengen Area, the EU single market, and the eurozone (dark blue). Luxembourg's stable and high-income market economy features moderate growth, low inflation, and a high level of innovation. [112] Unemployment is traditionally low, though it reached 6.1% by May 2012 after the Great Recession. [113]
This is a map of European countries by GNI (gross national income nominal) per capita for the year 2021. [1] High income, [2] defined by the World Bank as $13,205 or more, is indicated in purple; upper middle income, ranging from $4,256 and $13,205, is shown in orange; and lower middle income between $1,086 and $4,255, is represented in red.
This is a list of countries by gross national income per capita in 2023 at nominal values, according to the Atlas method, an indicator of income developed by the World Bank. [1] The GNI per capita is the dollar value of a country's final income in a year, divided by its population. It should be reflecting the average before tax income of a ...