Economy
Austria
Budget
revenues
$231.132 billion (2023 est.)
expenditures
$241.516 billion (2023 est.)
Exports
Exports 2022
$291.804 billion (2022 est.)
Exports 2023
$303.914 billion (2023 est.)
Exports 2024
$299.366 billion (2024 est.)
Imports
Imports 2022
$294.324 billion (2022 est.)
Imports 2023
$293.692 billion (2023 est.)
Imports 2024
$284.467 billion (2024 est.)
Industries
construction, machinery, vehicles and components, food products, metals, chemicals, timber and paper, electronics, tourism
Labor force
4.768 million (2024 est.)
Public debt
Public debt 2023
78.3% of GDP (2023 est.)
Remittances
Remittances 2022
0.6% of GDP (2022 est.)
Remittances 2023
0.6% of GDP (2023 est.)
Remittances 2024
0.7% of GDP (2024 est.)
Exchange rates
Currency
euros (EUR) per US dollar -
Exchange rates 2020
0.876 (2020 est.)
Exchange rates 2021
0.845 (2021 est.)
Exchange rates 2022
0.95 (2022 est.)
Exchange rates 2023
0.925 (2023 est.)
Exchange rates 2024
0.924 (2024 est.)
Economic overview
one of the most robust economies within the EU and Eurozone; diverse trade relations and portfolios; vast trade economy; reliance on Russian energy, yet pursuing investments in alternative energy; an aging workforce coupled with a significant refugee influx; substantial government debt
Unemployment rate
Unemployment rate 2022
5% (2022 est.)
Unemployment rate 2023
5.3% (2023 est.)
Unemployment rate 2024
5.5% (2024 est.)
Exports - partners
Germany 25%, USA 9%, Italy 7%, Switzerland 5%, Hungary 4% (2023)
Imports - partners
Germany 34%, China 7%, Italy 7%, Switzerland 5%, Czechia 4% (2023)
Real GDP per capita
Real GDP per capita 2022
$65,700 (2022 est.)
Real GDP per capita 2023
$64,400 (2023 est.)
Real GDP per capita 2024
$63,300 (2024 est.)
Real GDP growth rate
Real GDP growth rate 2022
5.3% (2022 est.)
Real GDP growth rate 2023
-1% (2023 est.)
Real GDP growth rate 2024
-1.2% (2024 est.)
Agricultural products
milk, sugar beets, maize, wheat, barley, potatoes, pork, grapes, triticale, soybeans (2023)
Exports - commodities
cars, packaged pharmaceuticals, vaccines, vehicle parts/accessories, nitrogen compounds (2023)
Imports - commodities
cars, apparel, vaccines, vehicle parts/accessories, refined petroleum (2023)
Current account balance
Current account balance 2022
-$3.911 billion (2022 est.)
Current account balance 2023
$6.783 billion (2023 est.)
Current account balance 2024
$12.642 billion (2024 est.)
Taxes and other revenues
25.9% (of GDP) (2023 est.)
GDP (official exchange rate)
$521.642 billion (2024 est.)
GDP - composition, by end use
household consumption
52.2% (2023 est.)
government consumption
20.5% (2023 est.)
investment in inventories
0.5% (2023 est.)
investment in fixed capital
24.9% (2023 est.)
exports of goods and services
59.5% (2023 est.)
imports of goods and services
-57.3% (2023 est.)
Population below poverty line
14.8% (2021 est.)
Average household expenditures
on food
10.1% of household expenditures (2023 est.)
on alcohol and tobacco
3.5% of household expenditures (2023 est.)
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2022
8.5% (2022 est.)
Inflation rate (consumer prices) 2023
7.8% (2023 est.)
Inflation rate (consumer prices) 2024
2.9% (2024 est.)
Industrial production growth rate
-5.5% (2024 est.)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022
$593.701 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$588.031 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$581.131 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
11.4% (2024 est.)
total
11.7% (2024 est.)
female
12% (2024 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022
$33.078 billion (2022 est.)
Reserves of foreign exchange and gold 2023
$31.212 billion (2023 est.)
Reserves of foreign exchange and gold 2024
$35.406 billion (2024 est.)
GDP - composition, by sector of origin
industry
23.1% (2024 est.)
services
65.3% (2024 est.)
agriculture
1.2% (2024 est.)
Household income or consumption by percentage share
lowest 10%
2.8% (2022 est.)
highest 10%
24.6% (2022 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2022
30.9 (2022 est.)