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 23.2 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 457.6 billion (2018, estimate)
GDP (Purchasing Power Parity)
Intl$ 463.2 billion (2018, estimate)
Real GDP Growth
| 2014 | 2015 | 2016 | 2017 | 2018 |
| 0.7% | 1.1% | 2.0% | 2.6%* | 2.7%* |
*Estimate
GDP per capita - current prices
USD 51,509.0 (2018, estimate)
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GDP - composition by sector
- agriculture: 1.2%
- industry: 25.4%
- services: 62.7%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP)
3.2% (2017)
OECD, data retrieved October 2019
Inflation
| 2015 | 2016 | 2017 | 2018 | 2019 |
| 0.8% | 1.0% | 2.2% | 2.1%* | 1.5%* |
*Estimate
Unemployment Rate
| 2015 | 2016 | 2017 | 2018 | 2019 |
| 5.7% | 6.0% | 5.5% | 4.9%* | 5.1%* |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018 | 2019 |
| 84.4% | 82.9% | 78.5% | 73.8%* | 70.7%* |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018 | 2019 |
| -1.0% | -1.6% | -0.7% | 0.1% | 0.1% |
*Estimate
Government bond ratings
Standard & Poor's: AA+
Moody's: Aa1
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 121.0 billion | USD 150.6 billion | USD 116.8 billion |
Largest companies
Erste Group Bank, OMV Group, Raiffeisen Bank International, Voestalpine, Vienna Insurance Group, STRABAG, Verbund, Bawag Group, Uniqa
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Current account balance by percentage of GDP
2.3 % (2018 estimate)
Exports as percent of GDP (Exports of goods and services)
54.5% (2018)
Shares in world total merchandising export
0.95% (2018)
Shares in world total commercial services export
1.28% (2018)
Export commodities
Machinery and equipment, motor vehicles and parts, manufactured goods, chemicals, iron and steel, foodstuffs
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Import commodities
Machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products, natural gas; foodstuffs
Exports - major partners
Germany 29.4%, US 6.3%, Italy 6.2%, Switzerland 5.1%, France 4.8%, Slovakia 4.8% (2017)
Imports - major partners
Germany 41.8%, Italy 5.8%, Switzerland 5.5%, Czech Republic 4.4%, Netherlands 4.2%(2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD -8,170 million | USD 11,092 million | USD 7,618 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD -2,031 million | USD 10,563 million | USD -747 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 4,773 million | USD 16,894 million | USD -310 million | USD 4,055 million |
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
Source
Global competitiveness ranking
21 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 31 / Score: 72 (Mostly free)(100=totally free 0=totally repressed)
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Source
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 73.8% (includes Roman Catholic 73.6%, other Catholic 0.2%), Protestant 4.9%, Muslim 4.2%, Orthodox 2.2%, other 0.8% (includes other Christian), none 12%, unspecified 2% (2001 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020 |
| 7.65 million | 8.01 million | 8.36 million | 8.63 million | 9.01 million* |
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 64.7% | 65.4% | 60.2% | 58.3% |
% of population living on less than $3.10 a day
0.7% (last available estimate, 2015)
Inequality of wealth distribution (Gini index)
30.5 (last available estimate, 2015)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 42.4%
Mobile: 123.5%
(2018)
(fixed-telephone subscribers and mobile-cellular subscribers)