Austria: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developed |
| Economic Trivia | Next to a highly developed industry, international tourism is the most important part of the national economy. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2019): Germany, Italy, and United States |
| Top Industries Source: CIA World Factbook | Construction; Machinery; Vehicles and Parts; Food |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $491,315,356,730 (2020) |
| GDP Growth Rate (annual %) | -6.59% (2020) |
| GDP Per Capita, PPP (current international) | $55,097 (2020) |
GDP Country Rank 43/197 (2020)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 1.382% (2020) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 51.4% (2019) |
| Real Interest Rate (5 year average %) | 3.96% (2016) |
| Manufacturing, value added (% of GDP) | 15.824% (2020) |
| Current Account Balance (BoP, current US$) | $10,780,590,327 (2020) |
Labor and Employment [1]
| Labor Force, Total | 4,572,356 (2020) |
| Employment in Agriculture (% of total employment) | 3.481% (2020) |
| Employment in Industry (% of total employment) | 25.044% (2020) |
| Employment in Services (% of total employment) | 71.475% (2020) |
| Unemployment Rate | 5.77% (2020) |
Trade [1]
| Imports of goods and services (current US$) | $209,551,524,273 (2020) |
| Exports of goods and services (current US$) | $225,735,220,987 (2020) |
| Total Merchandise Trade (% of GDP) | 79.471% (2020) |
| FDI, net inflows (BoP, current US$) | ($8,100,275,768) (2019) |
| Commercial Service Exports (current US$) | $64,203,779,920 (2020) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Austria’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.