Austria


Austria Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Austria; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Austrian National Bank
Austria is part of the Eurosystem and the European Central Bank
International Reserves US$ 24.769 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 409.628 billion (2011 estimate)
GDP (Purchasing Power Parity) 359.864 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
0.5% 1.6% 0.8% 2.5% 2.5% 3.6% 3.7% 1.4%
2009 2010 2011 2012*
-3.8% 2.3% 3.1% 0.9%

*Estimate

GDP per capita - current prices US$ 48,479 (2011 estimate)
GDP per capita - PPP $42,590 International Dollars (2011 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.7% 0.62% 0.55% 0.45% 0.41%

**Forecast

GDP - composition by sector
  • agriculture: 1.5% 
  • industry: 29.5% 
  • services: 69% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) 2.76% (2010)

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
0.4%(2008) 1.7% 3.6% 2.2%

*Estimate

Unemployment rate
2009 2010 2011 2012*
4.8% 4.4% 4.2%(2009) 4.4%

*Estimate

Household saving rates 7.7% (Net saving; 2012 forecast)

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
63.8% 69.5% 71.8% 72.2% 73.9%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-1% -4.1% -4.5% -2.6% -3.1%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: AA+

Moody's rating: Aaa

Moody's outlook: NEG

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$107.2 billion US$118 billion US$82.37 billion
Largest companies in Austria Strabag (Construction Service), Vienna Insurance Group (Diversified Insurance), Uniqa (Diversified Insurance), Verbund (Electric Utilities), Voestalpine (Iron & Steel), Raiffeisen Bank International (Major Banks), Erste Group Bank (Major Banks), OMV Group (Oil & Gas Operations), Andritz (Other Industrial Equipment), Immofinanz (Real Estate), Volksbank (Regional Banks), Telekom Austria (Telecommunications services) (2012)
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ 5.6 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP 1.4% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

54% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.97%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 1.47% (2011)(2007)

(Data were released in 2012)

Total exports US$163.1 billion (2012 estimate) 
Export commodities machinery and equipment, motor vehicles and parts, paper and paperboard, metal goods, chemicals, iron and steel, textiles, foodstuffs
Total imports US$170.5 billion (2012 estimate) 
Import commodities machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products; foodstuffs
Exports - major partners Germany 32.2%, Italy 7.8%, Switzerland 4.4%, France 4.2% (2011)
Imports - major partners Germany 42.8%, Italy 6.8%, Switzerland 5.6%, Netherlands 4.1% (2011)
FDI inflows
2009 2010 2011
US$9,303 million US$4,265 million(2009) US$14,128 million(2009)
FDI outflows
2009 2010 2011
US$10,006 million US$7,732 million US$30,451 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$3,049 million US$3,345 million(2009) US$1,523 million(2009) US$3,627 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 29 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 134 out of 185 countries(2009)

Enforcing Contracts: 7 out of 185 countries

Registering Property: 34 out of 185 countries

Getting credit: 23 out of 185 countries

Protecting investors: 100 out of 185 countries

Trading across border: 26 out of 185 countries

Paying Taxes: 77 out of 185 countries

Dealing with Construction Permits: 75 out of 185 countries

Getting Electricity: 24 out of 185 countries

Resolving Insolvency: 12 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
16

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 28 Score: 70.3 (Mostly Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+1
Total area 83,871 km2 (2006)
Capital Vienna (2009)
Currency euros (EUR) (2009)
Government type federal republic (2009)
Languages German (official nationwide) 88.6%, Turkish 2.3%, Serbian 2.2%, Croatian (official in Burgenland) 1.6%, other (includes Slovene, official in Carinthia, and Hungarian, official in Burgenland) 5.3% (2001 census)
Religions Roman Catholic 73.6%, Protestant 4.7%, Muslim 4.2%, other 3.5%, unspecified 2%, none 12% (2001 census)
Total population
1980 1990 2000 2012* 2017**
7.55 million 7.68 million 8.01 million 8.45 million 8.63 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
64.7% 65.4% 65.8% 67.7%
Population median age 42 years (2010)
Population growth rate 0.3% (2011)
Life expectancy 81 years (2010)
Adult literacy N/A
% of population living on less than $2 a day N/A
Inequality of wealth distribution (Gini index)

29.15 (2000)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

195.05% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 79.8% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Vienna: 36th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

7.4451 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INSURANCE PROVIDERS

2012:
  • REGIONAL WINNERS / Best Employment Practices Liability Insurer UNIQA (National, 2012)

WORLD'S BEST TREASURY & CASH MANAGEMENT BANKS & PROVIDERS

2011:
  • Best Provider of Money Market Funds RZB / Raiffeisen International (National, 2011)
  • Best Bank for Risk Management RZB / Raiffeisen International (National, 2011)
2010:
  • Best Provider of Money Market Funds RZB / Raiffeisen International (National, 2010)
  • Best Bank for Risk Management RZB / Raiffeisen International (National, 2010)
2009:
  • Best Overall Bank for Cash Management RZB / Raiffeisen International (Europe, 2009)
  • Best Bank for Liquidity Management RZB / Raiffeisen International (National, 2009)
  • Best Provider of Money Market Funds RZB (National, 2009)
  • Best Bank for Risk Management RZB / Raiffeisen International (Central and Eastern Europe, 2009)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS UniCredit Bank Austria (National, 2013)
2012:
  • COUNTRY WINNERS Bank Austria (CENTRAL/EASTERN EUROPE, 2012)
2011:
  • COUNTRY WINNERS Bank Austria (National, 2011)
2010:
  • COUNTRY WINNERS ANZ (Central and Eastern Europe, 2010)
  • COUNTRY WINNERS Bank Austria (Central and Eastern Europe, 2010)
2009:
  • COUNTRY WINNERS Bank Austria (National, 2009)

WORLD'S BEST DEVELOPED MARKET BANKS

(ranking of the 50 safest banks in the world; the first is the safest)
2012:
  • RZB/Raiffeisen Bank International (2012)
2011:
  • Raiffeisen Bank International (2011)
2010:
  • RZB (2010)
2009:
  • Bank Austria (Central and Eastern Europe, 2009)

WORLD'S BEST BANKS

2012:
  • REGIONAL Raiffeisen Bank International (National, 2012)
2011:
  • REGIONAL Raiffeisen Bank International (Central and Eastern Europe, 2011)

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2010:
  • REGIONAL WINNERS RZB / Raiffeisen International (National, 2010)
2009:
  • REGIONAL WINNERS RZB / Raiffeisen International (Central and Eastern Europe, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS UniCredit (National, 2012)
2011:
  • COUNTRY WINNERS UniCredit (National, 2011)
2010:
  • COUNTRY WINNERS UniCredit (Central and Eastern Europe, 2010)
2009:
  • REGIONAL WINNERS RZB (Central and Eastern Europe, 2009)
  • COUNTRY WINNERS RZB (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2013:
  • COUNTRY WINNERS Erste Group (National, 2013)

CENTRAL BANKER REPORT CARD

2010:

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Bank Austria (National, 2013)
2012:
  • COUNTRY WINNERS Bank Austria (National, 2012)
2011:
  • COUNTRY WINNERS Bank Austria (National, 2011)
2010:
  • COUNTRY WINNERS Bank Austria (National, 2010)
2009:
  • COUNTRY WINNERS Bank Austria (Jean-Claude Trichet, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE