Economy of Austria
Population: 8.85 M (2018)
GDP per Capita: 51,462 USD (2018)
455,290 M.

GDP USD

(2018)

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253,850 M.

EXPORTS USD

(2018)

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236,910 M.

IMPORTS USD

(2018)

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70.37 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 2.42 % (2018)
GDP of 2010 USD USD 442.50 B. (2018)
GDP Current USD USD 455.29 B. (2018)
GDP per Capita Current USD USD 51,462 (2018)
GDP per capita, PPP USD 46,260 (2018)
GDP per Capita, 2010 USD USD 50,020 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 19.32 % (2018)
Government Spending USD 87.97 B. (2018)
Government Debt % GDP 70.37 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 109.95 (2018)
Trade Openness 107.79 % (2018)
Exports of Goods and Services % GDP 55.76 % (2018)
Exports Goods & Services USD 253.85 B. (2018)
Exports Annual Growth 5.88 % (2018)
Imports as % GDP 52.03 % (2018)
Total Imports USD 236.91 B. (2018)
Foreign Direct Investment % GDP 0.93 % (2018)
Foreign Direct Investment USD 11.25 B. (2018)
Current Account Balance % GDP USD 2.37 % (2018)
Current Account Balance USD 10.80 B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD 16.66 B. (2018)
Foreign Exchange Reserves incl Gold USD 23.19 B. (2018)
Remittances % GDP 0.70 % (2018)
Remittances USD 314 M. (2018)
Balance of Payments USD 1,918 M. (2018)

Labor Market

Indicator Value
Labor Force 4.56 M. (2019)
Unemployment Rate 4.64 % (2019)
Unemployment Rate Females 4.55 % (2019)
Unemployment Rate Males 4.78 % (2019)
Youth Unemployment (ages 15-24) 8.66 % (2019)
Labor Force Participation Rate 60.06 % (2019)
Labor Force (Percent Female) 46.41 % (2019)
Female Labor Force Participation Rate 54.75 % (2019)
Male Labor Force Participation Rate 65.65 % (2019)
Dependent People 49.92 % (2018)

Agriculture Sector

Indicator Value
Forest Area 46.90 % (2016)
Forest Area km² 38,708 km² (2016)
Agricultural Land 32.36 % (2016)
Agricultural Land km² 26,702 km² (2016)
Employment 3.86 % (2019)
Value added % GDP 1.15 % (2018)
Agriculture Value added USD 5.22 B. (2018)
Crop Production Index 90.80 (2016)
Precipitation 1,110 mm (2014)
Arable Land 16 % (2016)
Cereal Yield 6,259 kg/hectare (2017)
Food production index 101 (2016)
Rural Population 42 % (2018)
Fertilizer use of Arable Land 142 kg/hectare (2016)
Livestock Production Index 108 (2016)
Economy of Austria

According to the World Bank and its latest published data, the economy of the Austria presents a growth rate of 2.42 % (2018) to the previous year.

With a population that reaches 8.85 M (2018) and a gross domestic product of USD 455.29 B. (2018), it translates a Gross Domestic Product per Capita of USD 51,462 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Austria also has a workforce of 4.56 M. (2019) with an unemployment rate of 4.64 % (2019), where women represent 4.55 % (2019) and men 4.78 % (2019), the unemployment rate for young people between 15-24 years old stood at 8.66 % (2019). The total number of dependent people stands at 49.92 % (2018).

The central government spent 19.32 % (2018) of its gross domestic product that year, which in absolute terms is USD 87.97 B. (2018). Its consolidated public debt reached 70.37 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Austria exported USD 253.85 B. (2018), which represents 55.76 % (2018) of its gross domestic product, in that same sense its imports reached USD 236.91 B. (2018) with a direct foreign investment of USD 11.25 B. (2018).

Austria has a forest area of 38,708 km² (2016), which represents 46.90 % (2016) of its total area, an average rainfall of 1,110 mm (2014) per year and a population of 42 % (2018) living in rural areas. With a total area of 26,702 km² (2016) available for agriculture and 3.86 % (2019) of its employments, the agricultural sector contributes to the economy of the Austria about USD 5.22 B. (2018) (1.15 % (2018) of its GDP).