Statistics report example is one of a variety of types of works that a student might have to prepare. Such assignments are based on statistical data provided by different sources, including government agencies, non-governmental organizations, and private companies. Statistics report example is a perfect opportunity to demonstrate one’s ability to briefly summarize statistical data and use it for comparing different objects or events as well as making conclusions.
Based on the statistics, provided by multiple reputable organizations, it is possible to argue that Luxembourg can be considered one of the most prosperous economies in Europe and the entire world. While Luxembourgian economy is relatively small with the total GDP estimating around $58 billion as of 2015, it is characterized by a very high level of incomes and living standards. Since the country’s population is 570,000 people, its GDP per capita (PPP) estimates $102,000. In addition to being one of the world’s highest, this rate also can be considered unique even in Europe that is known for its high living standards. For instance, the GDP per capita in neighboring France, Germany, and Belgium is below $50,000 while an average rate for the entire EU is around 37,800, according to the most recent estimates.
Luxembourg’s GDP per capita also substantially exceeds that of the other small, wealthy European countries such as Monaco and Liechtenstein, as well as Switzerland, which is famous for exceptionally high living standards.
Remarkably, despite high living standards and wages, Luxembourgian economy has enjoyed a relatively high economic growth during the last decade. For instance, in 2007, the country’s real GDP grew by 8.4%, and after a recession, which reached 0.8% and 5.4% in 2008 and 2009 respectively, it increased again by 5.7% in 2010 and 2.6% in 2011. However, the country demonstrated a particularly successful performance in 2013, 2014, and 2015 when the real GDP growth estimated 4.4%, 5.6% and 4.4% respectively. In this respect, Luxembourg’s economy performed noticeably better than that of the entire EU, which during these years grew by 0.2%, 1.3%, and 1.8%. Luxembourg’s growth also significantly exceeded growth of leading European economies such as Germany, France, and UK as well as some less developed EU countries, including Bulgaria, Romania, and Hungary. In addition, this country enjoys a substantial level of financial stability and low level of debt. Indeed, as of 2015, Luxembourg had no budget deficit while the inflation rate estimated 0.1% compared to 0.7% in 2014. Public debt estimated less than 22% of the GDP, being significantly lower than in France or UK.
Luxembourg also enjoys relatively low unemployment rate that decreased from 7.1% in 2014 to 6.7% in 2015. The fact Luxembourg’s unemployment rate is close to “natural” level substantially contributes to a reduced social spending and might be one of the reasons of the economy’s perfect fiscal health. However, while the country’s unemployment rate is noticeably lower than in such countries as France, Poland, Finland, Italy or Spain, such countries as Germany or UK are more successful in this respect.
In conclusion, economic statistics of Luxembourg suggest that this country enjoys high living standards, relatively low unemployment and a very high level of financial and economic stability. That might indicate that the government of Luxembourg has managed to implement business-friendly policies in order to maintain steady economic growth.
- Central Intelligence Agency (2016, May 6). European Union. Retrieved from https:/ /www.cia.gov/library/publications/the-world-factbook/geos/ee.html
- Central Intelligence Agency (2016, May 6). Luxembourg. Retrieved from https://www.cia.gov/ library/publications/the-world-factbook/geos/lu.html
- Igos, E., Rugani, B., Rege, S., Benetto, E., Drauet, L., Zachary, D. & Haas, T. (2015). Integrated environmental assessment of future energy scenarios based on economic equilibrium models. Retrieved from http://www.econstor.eu/bitstream/10419/113910/ 1/NDL2015-009.pdf
- Mention, A. & Bontis, N. (2013). Intellectual capital and performance within the banking sector of Luxembourg and Belgium. Journal of Intellectual Capital, 14(2), 286 – 309. http://dx.doi.org/10.1108/14691931311323896
- The World Bank (2016). Luxembourg. Retrieved from http://data.worldbank.org/country/ luxembourg#cp_wdi