US—Ambassador Edward M. ROWELL; Embassy at 22 Boulevard Emmanuel-Servais, 2535 Luxembourg City (mailing address is APO New York 09132); telephone [352] 460123
_#_Flag: three equal horizontal bands of red (top), white, and light blue; similar to the flag of the Netherlands which uses a darker blue and is shorter; design was based on the flag of France
_*Economy #_Overview: The stable economy features moderate growth, low inflation, and negligible unemployment. Agriculture is based on small but highly productive family-owned farms. The industrial sector, until recently dominated by steel, has become increasingly more diversified, particularly toward high-technology firms. During the past decade, growth in the financial sector has more than compensated for the decline in steel. Services, especially banking, account for a growing proportion of the economy. Luxembourg participates in an economic union with Belgium on trade and most financial matters and is also closely connected economically to the Netherlands.
_#_GDP: $6.9 billion, per capita $18,000; real growth rate 2.5% (1990)
_#_Inflation rate (consumer prices): 3.5% (1990 est.)
_#_Unemployment rate: 1.3% (1990 est.)
_#_Budget: revenues $2.5 billion; expenditures $2.3 billion, including capital expenditures of NA (1988)
_#_Exports: $5.4 billion (f.o.b., 1989);
commodities—finished steel products, chemicals, rubber products, glass, aluminum, other industrial products;
partners—EC 75%, US 5%