National Economics

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In the context of economic development in Europe, Austria can boast above average growth and one of the highest employment rates. Find out here about the basics of the national economic situation in Austria.

Austria is among the most stable countries in the world. Inflation rates are low, the increase in national debt has been successfully reduced and there the target of a balanced budget is within reach. An array of measures have been implemented to stimulate growth through liberalisation and privatisation and to secure the future through social system reforms.

Austria has been a member of the European Union since 1995 and is fully integrated into the common market. GDP (Gross Domestic Product) per capita is at EUR 44,920 (2019 nominal), putting Austria under the top ten within the EU as ll as world-wide.

For 2021 a 4.9% (2022/ 2.7%) increase of Austria's GDP is predicted.

 Source: Statistics Austria - National Accounts
Austria's Gross National Income (GNI)
2016:EUR 357.27 bn
2017:EUR 367.01 bn
2018:EUR 384.65 bn
2019:EUR 398.32 bn

Last update : 30.10.2020