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.
Basic Information
Government Type: Federal parliamentary republic
Capital City: Vienna
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank |
National Bank of the Republic of Austria |
|---|---|
| Currency |
Euros (EUR) |
| International Reserves |
USD 30.44 billion (2020) World Bank, last updated 12/16/2021 IMF / International Financial Statistics |
| Gross Domestic Product – GDP |
USD 481.21 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
| GDP (Purchasing Power Parity) |
USD 531.41 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
| Real GDP growth |
2017 2.4% 2018 2.6% 2019 1.4% 2020* -6.2% 2021* 3.9% *Estimate |
|---|---|
| GDP per capita – current prices |
USD 53,793.37 (2021 estimate) |
| GDP per capita – PPP |
USD 59,405.59 (2021 estimate) |
| GDP (PPP) – share of world total |
0.37% (2021 estimate) |
| 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 2.2% 2018 2.1% 2019 1.5% 2020* 1.4% 2021* 2.5% *Estimate |
Austria
Country Report
A Storm Passes—Now, For A Recovery
Awards
BEST BANKS 2014: EUROPE
Capital Raising & Corporate Finance
ANNUAL SURVEY: WORLD’S BEST BANKS 2014
Inflation & Debt
| Inflation |
2017 2.2% 2018 2.1% 2019 1.5% 2020* 1.4% 2021* 2.5% *Estimate |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: AA+ Moody’s: Aa1 Standard & Poor’s / Moody’s (January 2022) |
| Unemployment rate |
2017 5.9% 2018 5.2% 2019 4.8% 2020* 5.4% 2021* 6.4% *Estimate |
| Household saving rates |
14.4% (2020) |
| Public debt (General government gross debt as a % of GDP) |
2017 78.6% 2018 74% 2019 70.5% 2020* 82.2% 2021* 84.2% *Estiamte |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2017 0.6% 2018 1.4% 2019 1.6% 2020* -7.8% 2021* -5.3% *Estimate |
| 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 |
Import/Export
| 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) |
| Total exports |
USD 226.7 billion (2020 estimate) |
| Export commodities |
Cars, packaged medical supplies, vehicle parts, medical vaccines/cultures, flavored water (2019) |
| Total imports |
USD 211.7 billion (2020 estimate) |
| 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) |
Competitiveness & Trade
| Current account balance |
USD 7.7 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
|---|---|
| Current account balance by percentage of GDP |
1.6% (2021 estimate) IMF – World Economic Outlook, October 2021 |
| FDI inflows |
2019 USD 5.3 billion 2020 USD 968 million 2021 USD -17.3 billion |
| FDI Outflows |
2019 USD 5.6 billion 2020 USD 10.9 billion 2021 USD -3.2 billion |
| Value of cross-border M&A, by country of purchaser |
2017 USD –310 million 2018 USD 4.1 billion 2019 USD 5.4 billion 2020 USD 3 billion |
| Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| 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 |
| Global competitiveness ranking |
21 out of 141 countries (2019) |
| Index of Economic Freedom |
Ranking: 22 / Score: 73.8 (Mostly Free) |
Population & Geographic Data
| Time Zone |
UTC +1 |
|---|---|
| Total Area |
83,871 sq km |
| Total Population |
1990 7.65 Million 2000 8.01 Million 2010 8.36 Million 2015 8.64 Million 2020 8.92 Million |
| Urban population as % of total population |
1960 64.7% 1980 65.4% 2000 60.2% 2020 58.7% |
| Population median age |
44.5 years |
| Population growth rate | 44.5 (2022 est.) |
| Life expectancy |
82.3 years CIA World Factbook / Life expectancy |
| % 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) |
| Freedom House rating |
Total score: 93/100 Status: Free Political Rights: 37/40 Civil Liberties: 56/60 (2022) |
| Total telephone subscribers as % of population |
Fixed: 42.0% Mobile: 119.0% (2020) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population |
87.5% (2020) |
Language & Religon
| 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.) |
|---|---|
| Literacy | N/A |
| Religions |
Catholic 57%, Eastern Orthodox 8.7%, Muslim 7.9%, Evangelical Christian 3.3%, other/none/unspecified 23.1% (2018 est.) |
World Rankings
| Population | 8.92 M |
|---|---|
| Mercer Cost of living index | N/A |
| C02 Emissions per capita |
7.1 metric tons per capita (2018) |
Global Finance Rankings & Awards: Austria
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
