Austria Economic Forecast

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.


Austria has two primary things going for it – the country is well developed and the standard of living is high. In fact, Austria is listed as one of the 12 richest countries in the world specific to GDP per capita. This is due to close relationships with several of the European Union economies, as well as having an economy with significant services and industrial sectors. Additionally, the less developed but still viable sectors of agrarian, fisheries, agriculture, and farming have boosted the economy.


Austria has two primary things going for it – the country is well developed and the standard of living is high. In fact, Austria is listed as one of the 12 richest countries in the world specific to GDP per capita. This is due to close relationships with several of the European Union economies, as well as having an economy with significant services and industrial sectors. Additionally, the less developed but still viable sectors of agrarian, fisheries, agriculture, and farming have boosted the economy. Although Austria was impacted by the global financial crisis, demands for exports and imports have remained strong. Along with numerous strong sectors, commercial relations have been a huge benefit to Austria. While the country overall is stable, once the financial crisis ends, Austria’s government realizes that some of the country’s largest financial institutions and banks will need support and that some restructuring of the economy and greater labor flexibility will be required.

Austria GDP Forecast

For the Austria GDP (Gross Domestic Product, Current Prices, US Dollar), forecasters look at historical data to determine what the future will hold. For instance, when 2008 ended, the GDP was at $414.83 billion in US dollars. For the end of 2009, the country was in the number 24 position for world rankings because of a decrease of 7.94% that put the GDP at $381.88 billion. From this and using a variety of other factors, forecasters believe that the numbers for 2010 will be around $391.64 billion and for 2015, a slight change will occur, closing the year out at $46.397 billion, US dollars

Austria Unemployment Forecast

The last report published in 2009 revealed that the Austria population was approximately 8.357 million. The good news is that this country has been able to keep a large portion of the population employed, reporting that close to 3.5 million have jobs, with the majority working in the services sector. In fact, this sector accounts for 70% of jobs in this country. However, the industries and agriculture sectors are also vital to this country’s employment status. For the Austria unemployment rate, this is reported at 4.975%. When compared to other countries, it is easy to see that Austria has a low rate of unemployment. Along with diverse and strong sectors, with the country shifting a large part of its focus on exportation, numbers have improved.

Austria Inflation Rate Forecast

Next, for the Austria inflation rate, 2008 was at 3.22%. From the end of that year to the end of 2009, a decline of 87.47% was seen, which changed the rate to 0.404%. For world rankings, this put Austria at number 149. As far as what forecasters are stating will happen at the end of 2010, an astounding increase of 221.78% is expected, closing the rate at 1.30%. In addition, experts believe that 2015 will end up with an inflation rate of 2%.

Austria Current Account Balance Forecast

Finally, experts pay close attention to the Austria current account balance. The 2008 numbers for this were $14.45 billion in US dollars, which experienced a decline of 63.10% over the following 24 months, changing the balance for 2009 to $5.332 billion. At the end of 2009, this change placed Austria at number 27 for rankings worldwide. Then for 2010 and 2015, forecasters are expecting the account balance to change to $6.95 and $8.669 billion US dollars respectively.

About EW Content Team PRO INVESTOR

The core team focusing on economics, industries, investing, businesses & personal finance.