Economy - overview:
Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a relatively sound industrial sector, and a small, but highly developed agricultural sector. Economic growth was anemic at less than 0.5% in 2013 and 2014, and growth in 2015 reached 0.8%. Austria's 5.8% unemployment rate, while low by European standards, is at an historic high for Austria. Without extensive vocational training programs and generous early retirement, the unemployment rate would be even higher. Public finances have not stabilized even after a 2012 austerity package of expenditure cuts and new revenues. On the contrary, in 2014, the government created a "bad bank" for the troubled nationalized "Hypo Alpe Adria" bank, pushing the budget deficit up by 0.7% of GDP to 2.1% and public debt to 83.4% of the GDP. Although Austria's fiscal position compares favorably with other euro-zone countries, it faces several external risks, such as Austrian banks' continued exposure to Central and Eastern Europe, repercussions from the Hypo Alpe Adria bank collapse, political and economic uncertainties caused by the European sovereign debt crisis, the current crisis in Russia/Ukraine, the recent appreciation of the Swiss Franc, and political developments in Hungary.

GDP (purchasing power parity):
$403.8 billion (2015 est.) $400.7 billion (2014 est.) $399.3 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 47
[see also: GDP country ranks ]

GDP (official exchange rate):
$372.6 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0.8% (2015 est.) 0.4% (2014 est.) 0.3% (2013 est.)
country comparison to the world: 187
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$47,500 (2015 est.) $47,100 (2014 est.) $46,900 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 27
[see also: GDP - per capita country ranks ]

Gross national saving:
24% of GDP (2015 est.) 23.5% of GDP (2014 est.) 24.2% of GDP (2013 est.)
country comparison to the world: 55
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 53.2%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 19.6%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.1%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.8%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 52.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -47.9% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.4%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 27.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 70.7% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
grains, potatoes, wine, fruit; dairy products, cattle, pigs, poultry; lumber

Industries:
construction, machinery, vehicles and parts, food, metals, chemicals, lumber and wood, paper and paperboard, communications equipment, tourism

Industrial production growth rate:
1.1% (2015 est.)
country comparison to the world: 141
[see also: Industrial production growth rate country ranks ]

Labor force:
3.827 million (2015 est.)
country comparison to the world: 95
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 5.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 26%
[see also: Labor force - by occupation - industry country ranks ]
services: 68.5% (2012 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
5.8% (2015 est.) 5.6% (2014 est.)
country comparison to the world: 64
[see also: Unemployment rate country ranks ]

Population below poverty line:
4.2% (2013 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 22% (2011 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
26.3 (2007) 31 (1995)
country comparison to the world: 135
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $189.2 billion
[see also: Budget revenues country ranks ]
expenditures: $196.8 billion (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
50.8% of GDP (2015 est.)
country comparison to the world: 14
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.1% of GDP (2015 est.)
country comparison to the world: 77
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
83.4% of GDP (2015 est.) 84.6% of GDP (2014 est.)
note: this is general government gross debt, defined in the Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year; it covers the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); the general government sector comprises the sub-sectors of central government, state government, local government and social security funds; as a percentage of GDP, the GDP used as a denominator is the gross domestic product in current year prices
country comparison to the world: 29
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.9% (2015 est.) 1.5% (2014 est.)
country comparison to the world: 66
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
1.9% (31 December 2015 est.) 2.15% (31 December 2014 est.)
country comparison to the world: 181
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$185.8 billion (31 December 2015 est.) $191.8 billion (31 December 2014 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
country comparison to the world: 22
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$428.9 billion (31 December 2014 est.) $439.3 billion (31 December 2013 est.)
country comparison to the world: 26
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$474.9 billion (31 December 2015 est.) $507.3 billion (31 December 2014 est.)
country comparison to the world: 27
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$106 billion (31 December 2012 est.) $82.37 billion (31 December 2011) $67.68 billion (31 December 2010 est.)
country comparison to the world: 43
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$6.137 billion (2015 est.) $3.228 billion (2014 est.)
country comparison to the world: 27
[see also: Current account balance country ranks ]

Exports:
$141.4 billion (2015 est.) $164.3 billion (2014 est.)
country comparison to the world: 32
[see also: Exports country ranks ]

Exports - commodities:
machinery and equipment, motor vehicles and parts, paper and paperboard, metal goods, chemicals, iron and steel, textiles, foodstuffs

Exports - partners:
Germany 30.4%, Italy 6.5%, France 5%, US 4.7%, Switzerland 4.5%, Slovakia 4.2% (2014)

Imports:
$139.8 billion (2015 est.) $167.5 billion (2014 est.)
country comparison to the world: 30
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products; foodstuffs

Imports - partners:
Germany 41.9%, Italy 6.5%, Switzerland 4.6%, Czech Republic 4.3%, Netherlands 4.1% (2014)

Reserves of foreign exchange and gold:
$24.94 billion (31 December 2014 est.) $23.29 billion (31 December 2013 est.)
country comparison to the world: 55
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$820 billion (31 December 2013 est.) $812 billion (31 December 2012 est.)
country comparison to the world: 20
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$327.9 billion (31 December 2015 est.) $318.4 billion (31 December 2014 est.)
country comparison to the world: 21
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$375.5 billion (31 December 2015 est.) $366.3 billion (31 December 2014 est.)
country comparison to the world: 20
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.89 (2015 est.) 0.75 (2014 est.) 0.76 (2013 est.) 0.78 (2012 est.) 0.72 (2011 est.)