A Storm Passes—Now, For A Recovery
From scandal to pandemic, Austria’s economy has had a long year.
Austria GDP and Economic Data
Browse economic indicators and data sets, selected by Global Finance editors, to learn more about Austria economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Austria best banks and safest banks are also available.
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International Reserves
USD 30.44 billion (2020)
World Bank, last updated 12/16/2021
Gross Domestic Product - GDP
USD 481.21 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP (Purchasing Power Parity)
USD 531.41 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
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Real GDP Growth
| 2017 | 2018 | 2019* | 2020* | 2021* |
| 2.4% | 2.6% | 1.4% | –6.2% | 3.9% |
*Estimate
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GDP - composition by sector
- agriculture: 1.2%
- industry: 25.7%
- services: 62.8%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP)
3.2% (2020)
Inflation
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 2.2% | 2.1% | 1.5% | 1.4% | 2.5% |
*Estimate
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Unemployment Rate
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 5.9% | 5.2% | 4.8% | 5.4% | 6.4% |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 78.6% | 74% | 70.5% | 83.2% | 84.2% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 0.6% | 1.4% | 1.6% | -7.8% | -5.3% |
*Estimate
Source
Government bond ratings
Standard & Poor's: AA+
Moody's: Aa1
Standard & Poor's / Moody's
(January 2022)
Source
Market value of publicly traded shares
USD 132.1 billion (2020)
Largest companies
OMV Group, Erste Group Bank, Raiffeisen Bank International, Verbund, Vienna Insurance Group, STRABAG, Bawag Group, Voestalpine, Uniqa
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Current account balance
USD 7.7 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
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Current account balance by percentage of GDP
1.6% (2021 estimate)
IMF - World Economic Outlook, October 2021
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Exports as percent of GDP (Exports of goods and services)
51.4% (2020)
Shares in world total merchandising export
0.96% (2020)
Shares in world total commercial services export
1.3% (2020)
Export commodities
Cars, packaged medical supplies, vehicle parts, medical vaccines/cultures, flavored water (2019)
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Import commodities
Cars, vehicle parts, broadcasting equipment, refined petroleum, packaged medical supplies (2019)
Exports - major partners
Germany 28%, United States 7%, Italy 6%, Switzerland 5% (2019)
Imports - major partners
Germany 39%, Italy 7%, Czechia 5% (2019)
FDI inflows
| 2019 | 2020 | 2021 |
| USD 5.3 billion | USD 968 million | USD -17.3 billion |
FDI outflows
| 2019 | 2020 | 2021 |
| USD 5.6 billion | USD 10.9 billion | USD -3.2 billion |
Value of cross-border M&A, by country of purchaser
| 2017 | 2018 | 2019 | 2020 |
| USD –310 million | USD 4.1 billion | USD 5.4 billion | USD 3 billion |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
(for a monthly update on M&A; click here )
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
27 out of 190 countries
Subcategories:
Starting a Business: 127 out of 190 countries
Dealing with Construction Permits: 49 out of 190 countries
Getting Electricity: 29 out of 190 countries
Registering Property: 31 out of 190 countries
Getting Credit: 94 out of 190 countries
Protecting Minority Investors: 37 out of 190 countries
Paying Taxes: 44 out of 190 countries
Trading across Borders: 1 out of 190 countries
Enforcing Contracts: 10 out of 190 countries
Resolving Insolvency: 22 out of 190 countries
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Global competitiveness ranking
21 out of 141 countries
(2019)
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Languages
German (official nationwide) 88.6%, Turkish 2.3%, Serbian 2.2%, Croatian (official in Burgenland) 1.6%, other (includes Slovene, official in southern Carinthia, and Hungarian, official in Burgenland) 5.3% (2001 est.)
Religions
Catholic 57%, Eastern Orthodox 8.7%, Muslim 7.9%, Evangelical Christian 3.3%, other/none/unspecified 23.1% (2018 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020 |
| 7.65 million | 8.01 million | 8.36 million | 8.64 million | 8.92 million |
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2020 |
| 64.7% | 65.4% | 60.2% | 58.7% |
% of population living on less than $3.10 a day
0.7% (last available estimate, 2019)
Inequality of wealth distribution (Gini index)
30.2 (last available estimate, 2019)
(0=perfect equality, 100=absolute inequality)
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Freedom House rating
Total score: 93/100
Status: Free
Political Rights: 37/40
Civil Liberties: 56/60 (2022)
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Total telephone subscribers as % of population
Fixed: 42.0%
Mobile: 119.0% (2020) (fixed-telephone subscribers and mobile-cellular subscribers)