A city on a lake in Austria

Austria Economy

Austria's economy in numbers:

Nominal GDP of USD 470 billion in 2022.

GDP per capita of USD 52,086 compared to the global average of USD 10,589.

Average real GDP growth of 1.2% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 73% of overall GDP, manufacturing 17%, other industrial activity 9%, and agriculture 1%. Looking at GDP by expenditure, private consumption accounted for 50% of GDP in 2021, government consumption 21%, fixed investment 28%, and net exports 1%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2021, manufactured products made up 79% of total merchandise exports, mineral fuels 2%, food 8%, ores and metals 3% and agricultural raw materials 2%, with other categories accounting for 6% of the total. In the same period, manufactured products made up 75% of total merchandise imports, mineral fuels 5%, food 7%, ores and metals 4% and agricultural raw materials 2%, with other goods accounting for 7% of the total. Total exports were worth USD 205 billion in 2022, while total imports were USD 226 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 1.2% in the decade to 2022. To read more about GDP growth in Austria, go to our dedicated page.

Fiscal policy:

Austria's fiscal deficit averaged 2.4% of GDP in the decade to 2022. Find out more on our dedicated page.


The unemployment rate averaged 5.7% in the decade to 2022. For more information on Austria's unemployment click here.


Inflation averaged 2.4% in the decade to 2022. Go to our Austria inflation page for extra insight.

Monetary Policy:

Euro Area monetary policy rate ended 2022 at 2.50%, up from 0.75% a decade earlier. See our Austria monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the euro weakened by 18.2% vs the U.S. dollar. For more info on the euro, click here.
In Q3, the economy entered a technical recession, on the back of steeper falls in private consumption and fixed investment in seasonally adjusted quarter-on-quarter terms. That said, a recovery in exports capped the overall downturn. In Q4, the Consensus is for the economy to have weakly rebounded at the tail end of 2023. Retail trade—a proxy for private spending—contracted at a softer monthly clip in October–November than in Q3 amid a two-year low in inflation and high nominal wage growth. Additionally, exports rose more in October annually than in Q3. That said, industry contracted at a steeper monthly pace in October–November than in Q3. In other news, in December, Austria agreed to allow Romania and Bulgaria—increasingly significant trade partners—access to the passport-free Schengen area by air and sea, boding well for both the external sector and investment activity.
Projections out to 2033.

47 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 21 expert analysts.

Want to get insight on the economic outlook for Austria in the coming years? FocusEconomics collects projections out to 2033 on 47 economic indicators for Austria from a panel of 21 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Austria economy. To download a sample report on the Austria's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Austria Datos económicos

2018 2019 2020 2021 2022
Población (millones) 8.9 8.9 8.9 8.9 9.0
PIB (en millones de euros) 385 397 381 406 448
PIB per cápita (EUR) 43,362 44,832 42,809 45,400 49,795
Crecimiento económico (PIB nominal, var. anual) 4.3 3.1 -4.1 6.6 10.2
Crecimiento económico (PIB, var. anual) 2.4 1.5 -6.5 4.7 5.0
Demanda interna (% var. anual) 2.4 0.4 -5.1 6.4 1.7
Consumo privado (% var. anual) 1.1 0.6 -7.9 3.4 4.3
Consumo público (var. anual) 1.3 1.3 -0.5 7.9 3.0
Inversión fija (% var. anual) 4.2 4.7 -5.0 8.8 -0.7
Exportaciones (G&S, % var. anual) 5.0 3.9 -11.4 10.1 11.5
Importaciones (G&S, % var. anual) 5.2 2.0 -9.2 13.6 6.0
Producción industrial (% var. anual) 5.2 1.5 -5.3 9.6 6.5
Salarios (% var. anual) 2.7 3.0 2.3 1.7 3.1
Desempleo (% de la población activa, eop) 5.2 4.7 6.8 4.8 4.9
Desempleo (% de la población activa, aop) 5.2 4.8 6.1 6.2 4.8
Saldo fiscal (% del PIB) 0.2 0.6 -8.0 -5.9 -
Deuda pública (% del PIB) 74.1 70.6 82.9 82.3 -
Inflación (IPCA, % var. anual, eop) 1.7 1.8 1.0 3.8 10.5
Inflación (IPCA, % var. anual, aop) 2.1 1.5 1.4 2.8 8.6
Rendimiento de los bonos a 10 años (%, eop) 0.50 0.03 -0.43 0.09 3.20
Bolsa (var. de ATX %) -19.7 16.1 -12.8 38.9 -19.0
Tipo de cambio (USD por EUR, eop) 1.14 1.12 1.22 1.14 -
Tipo de cambio (USD por EUR, aop) 1.18 1.12 1.14 1.18 -
Balanza por cuenta corriente (en millones de euros) 3.5 9.5 11.3 1.4 -
Balanza por cuenta corriente (% del PIB) 0.9 2.4 3.0 0.4 -
Balanza comercial de mercancías (en millones de euros) -6.0 -4.3 -1.9 -12.9 -19.6
Inversión extranjera directa (en millones de euros) 4.6 2.7 -13.2 4.9 -

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