Luxembourg 02/13 - L’industrie sidérurgique luxembourgeoise depuis les années 60

During the sixties and until the first oil shock in 1973, economic growth and wealth of Luxembourg are created primarily by the steel industry. At the end of the steel crisis (1975), the financial sector takes over. Thus, the share of GDP generated by the steel industry shrinks from about 30% in 1960 to 12% in 1980, reaching just 2% in 2011. Today, its importance for economic growth and employment Luxembourg has decreased considerably. During the second half of the 20th century, the Luxembourg steel industry knows the disappearance of the last mining activity, a steel crisis that lasted ten years (1975-1985), accompanied by profound restructuring in employment, technology and production capacity and by institutional implications. Movements of acquisitions and mergers follow, and in 2006, the ArcelorMittal group is created. In 2011, this group is the largest steel producer in the world with a production of 100 million tonnes.