A city on a lake in Austria

Austria Current Account Balance (% of GDP)

Current Account Balance in Austria

In line with FocusEconomics panelists’ expectations, the economy shrank 0.3% sequentially in Q1 (Q4: 0.0% s.a. qoq). Contractions in government expenditure and exports more than outweighed growth in private consumption and investment. On a sectorial level, the service sector’s soft performance drove the slowdown. Looking at Q2, available data has been downbeat. April’s business confidence and manufacturing PMI readings were below Q1’s averages. Consumer confidence was broadly in line with Q1’s average, remaining in negative territory. Additionally, ECB rate hikes are likely hurting investment and construction activity this quarter. In contrast, household consumption should be buoying activity, supported by declining inflation on average in Q2 relative to Q1.

Austria Current Account Balance Chart

This chart displays Current Account Balance (% of GDP) for Austria from 2013 to 2022.

Austria Current Account Balance Data

2017 2018 2019 2020 2021
Current Account Balance (% of GDP) 1.4 0.9 2.4 3.0 0.4

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