Luxembourg is a country located in Western Europe, composed mainly of French and Germanic cultures and languages. Luxembourg has an area of almost 2,586 square kilometers making it one of the smallest sovereign states in Europe. In 2012 Luxembourg had a small population of 524,853, ranked eighth among the least populous countries in Europe. Luxembourg ranked 179th out of 194 independent countries in the world. Luxembourg borders Belgium to the west, Germany to the east and France to the south. The country being a representative democracy is led by Grand Duke Henri. Luxembourg has a highly developed and advanced economy, ranked as one of the highest gross domestic products per capita in the world. Luxembourg consists of high income. The domestic market is relatively small, but the country's financial center is mainly international. In 2009, there were 152 banks, with over 27,000 employees. Another great asset of Luxembourg is the steel industry, founded by the Arbed company in 1911. The steel industry is located on the French border. Steel accounts for nearly 29% of all exports and 3.9% of the workforce. The relative decline of the steel sector occurred when Arbed became Arcelor, taken over by Mittal Steel, the world's largest steel producer. Tourism is another important part of the national economy, accounting for approximately 8.3% of GDP in 2009. Luxembourg welcomes over 900,000 travelers per year. Luxembourg has a small agricultural sector, where most farmers work in dairy and meat production. Agriculture has a GDP composition of 0.3%, while industry has 11.3% and services 88.3%. The products of the agricultural sector are grapes, barley, oats, potatoes, wheat and fruit. Some industries consist of banking and financial services, construction, iron, metals and steel, chemicals, engineering and tourism. Luxembourg's workforce is approximately 265,800 people, excluding foreign workers, with almost 150,000 workers coming from France, Belgium and Luxembourg. With one of the highest GDPs per capita of around $80,000, one can imagine the amount of luxury items owned by Luxembourg individuals. They have a stable market system governed lightly, with freedom of interest and business. Steel accounts for the majority of export markets, rubber, plastics and agriculture. Travelers come every year to experience the extensive banking and economic services used by the Luxembourg government, which is another reason for Luxembourg's large amount of revenue. The country is a small populated area but, as you can see, it has a very fluctuating economy with many things to offer foreigners looking for business and partners in trade and
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