21, Nov 2009, CST. Welcome to the Austria economic statistics pages provided by the beta version of EconomyWatch.com’s Econ Stats database.

Economic Indicators For: Austria › Change country
National or Regional Currency: Euro, EUR
Year of data: 2008 › Change year
Number of Indicators Listed: 26
Full Dataset: From Year 1980 to 2013
Date of Last Update: 1 Sept 2009
Population: 8,210,281 (July 2009 est.)
Area: total: 83,870 sq km land: 82,444 sq km water: 1,426 sq km
Natural Resources: oil, coal, lignite, timber, iron ore, copper, zinc, antimony, magnesite, tungsten, graphite, salt, hydropower
Government Type: Austria government type
Government Ministers: Austria ministers
Capital: Vienna
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook

Austria, with its well-developed open or free market economy and high standard of living, is closely tied to other European Union (EU) economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural, agrarian, fisheries and farming sector. The global financial crisis led in 2008 to a recession or slump that is widely expected to persist through 2009, following several years of solid demand for Austrian exports and record employment growth in 2008. During the recession or slump, investment is probably to suffer and the Austrian government's economic stabilization measures could drive up the budget deficit from approximately 0.6 per cent of Gross Domestic Product (GDP) in 2008 to approximately 2.8 per cent in 2009 and possibly above 3 per cent in 2010. The Austrian economy has benefited greatly in the past from strong commercial relations, especially in the banks and financial institutions and financial services and insurance sectors, with central, eastern, and southeastern Europe, but these sectors have been vulnerable to recent international financial instabilities, and some of Austria's largest banks and financial institutions have required government support. Even after the global economic outlook improves, Austria will need to perpetuate restructuring, emphasizing knowledge-based sectors of its economy, and encouraging greater workforce flexibility and greater workforce involvement to offset its graying general populace and exceedingly depressed reproduction rate.
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GDP (Constant Prices, National Currency) for Austria in year 2008 is EUR 244.472 Billion. Real GDP is expressed in billions of national currency units; the base year is country-specific.

GDP Growth (Constant Prices, National Currency) for Austria in year 2008 is 1.763 %. Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific.

GDP (Current Prices, National Currency) for Austria in year 2008 is EUR 282.202 Billion. GDP is expressed in billions of national currency units.

GDP (Current Prices, US Dollars) for Austria in year 2008 is US$ 415.321 Billion. Values are based upon GDP in national currency and the exchange rate projections provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions for each WEO exercise.

GDP Deflator for Austria in year 2008 is 115.433 (Index, Base Year as per country's accounts = 100). The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation. Please note: Data are expressed in the base year of each country's national accounts.

GDP Per Capita (Constant Prices, National Currency) for Austria in year 2008 is EUR 29,489.61 . GDP is expressed in constant national currency per person. Data are derived by dividing constant price GDP by total population.

GDP Per Capita (Current Prices, National Currency) for Austria in year 2008 is EUR 34,040.86 . GDP is expressed in current national currency per person. Data are derived by dividing current price GDP by total population.

GDP Per Capita (Current Prices, US Dollars) for Austria in year 2008 is US$ 50,098.43 . GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.

Output Gap, Percent of Potential GDP for Austria in year 2008 is 3.194 %. Output gaps for advanced economies are calculated as actual GDP less potential GDP as a percent of potential GDP. Estimates of output gaps are subject to a significant margin of uncertainty. For a discussion of approaches to calculating potential output, see Paula R. De Masi, "IMF Estimates of Potential Output: Theory and Practice," in Staff Studies for the World Economic Outlook (Washington: IMF, December 1997), pp. 40-46.

GDP (PPP), US Dollars for Austria in year 2008 is US$ 328.571 Billion. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Per Capita (PPP), US Dollars for Austria in year 2008 is US$ 39,634.13 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Share of World Total (PPP) for Austria in year 2008 is 0.476 %. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Implied PPP Conversion Rate for Austria in year 2008 is 0.859 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Investment (% of GDP) for Austria in year 2008 is not available

Gross National Savings (% of GDP) for Austria in year 2008 is not available

Inflation, Average Consumer Prices (Indexed to Year 2000) for Austria in year 2008 is 117.683 (Index, Base Year 2000 = 100). Data for inflation are averages for the year, not end-of-period data. The index is based on 2000=100.

Inflation (Average Consumer Price Change %) for Austria in year 2008 is 3.223 %. Data for inflation are averages for the year, not end-of-period data.

Inflation, End of Year (Indexed to Year 2000) for Austria in year 2008 is 116.57 (Index, Base Year 2000 = 100). Data for inflation are end of the period, not annual average data. The index is based on 2000=100.

Inflation (End of Year Change %) for Austria in year 2008 is 1.474 %. Data for inflation are end of the period, not annual average data.

Six-month London Interbank Offered Rate (LIBOR) Change % for Austria in year 2008 is not available

Unemployment Rate (% of Labour Force) for Austria in year 2008 is 3.833 %.

Employment for Austria in year 2008 is 3.42 Million .

Population for Austria in year 2008 is 8.29 Million .

General Government Balance (National Currency) for Austria in year 2008 is EUR -1.161 Billion. Data are on a national income accounts basis. Please refer to Box A1 in the World Economic Outlook for a summary of the policy assumptions underlying the projections.

General Government Balance (% of GDP) for Austria in year 2008 is -0.411 %. Data are on a national income accounts basis. Please refer to Box A1 in the World Economic Outlook for a summary of the policy assumptions underlying the projections.

General Government Structural Balance (National Currency) for Austria in year 2008 is EUR -3.279 Billion. Data are on a national income accounts basis. The structural budget position is defined as the actual budget deficit (or surplus) less the effects of cyclical deviations of output from potential output. Because of the margin of uncertainty that attaches to estimates of cyclical gaps and to tax and expenditure elasticities with respect to national income, indicators of structural budget positions should be interpreted as broad orders of magnitude. Moreover, it is important to note that changes in structural budget balances are not necessarily attributable to policy changes but may reflect the built-in momentum of existing expenditure programs. In the period beyond that for which specific cons

General Government Structural Balance (% Potential GDP) for Austria in year 2008 is -1.199 %. Data are on a national income accounts basis. The structural budget position is defined as the actual budget deficit (or surplus) less the effects of cyclical deviations of output from potential output. Because of the margin of uncertainty that attaches to estimates of cyclical gaps and to tax and expenditure elasticities with respect to national income, indicators of structural budget positions should be interpreted as broad orders of magnitude. Moreover, it is important to note that changes in structural budget balances are not necessarily attributable to policy changes but may reflect the built-in momentum of existing expenditure programs. In the period beyond that for which specific cons

General Government Net Debt (National Currency) for Austria in year 2008 is not available

General Government Net Debt (% GDP) for Austria in year 2008 is not available

General Government Gross Debt (National Currency) for Austria in year 2008 is not available

General Government Gross Debt (% GDP) for Austria in year 2008 is not available

Current Account Balance (US Dollars) for Austria in year 2008 is US$ 12.024 Billion. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.

Current Account Balance (% GDP) for Austria in year 2008 is 2.895 %. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.