Austria Economic Structure
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According to the International Monetary Fund report of 2009, Austria is world’s 10th richest country. The country has a well developed market and a high standard of living. Besides a well developed industry sector, tourism also contributes notably in the national GDP.[br]
According to the International Monetary Fund report of 2009, Austria is world’s 10th richest country. The country has a well developed market and a high standard of living. Besides a well developed industry sector, tourism also contributes notably in the national GDP.[br]
Austria Economic Structure
Austria’s economic structure has been influenced strongly by the influx of trade. The GDP (purchase power parity) has been around $323.1 billion (2009 est.), after a slightly higher $335.2 billion in 2008. The per capita GDP of the country is $39,400 (2009 est.)
Being a country that has the highest GDP contributor in the form of knowledge-based sectors, the service sector contributes 65.8% of the GDP (2009 est.). The industrial sector contributes 32.3% and the agriculture sector, which is small yet well developed, contributes 1.7% of the national GDP.
According to the 2009 estimates, almost 4.7% of the total population is unemployed. The unemployment rate appears to be decreasing, with the ongoing government-backed programs and subsidies.[br]
The country has $277 billion in FDI at home and has invested $287 billions in other countries (2009 est.). However, Austria has an external debt of $832.4 billion.
The growth in the Austrian economy has been made possible by its annexation to the EU and the government’s policies to safeguard the economy. Increased export has been another reason for the robust performance of the Austrian economy.
