Economy overview: Austria, with its highly developed market economy and high standard of living, is closely linked to the economies of other EU countries, especially Germany. Accession to the EU caused an influx of foreign investment, attracted by the accession of Austria to the single European market. In 2000, Austria took steps to further reduce government spending and increase taxes to meet the requirements of the European Monetary Union, as it faced unforeseen difficulties in reducing the state budget deficit. To counter the growing competition from other EU members and Central European countries, Austria needs to pay special attention to the development of knowledge-intensive sectors of the economy and continue to deregulate the service sector. In 2001, approximately 3% economic growth is expected. See businesscarriers.com to know more about Austria Economics and Business. GDP: at purchasing power parity – $ 203 billion (2000 est.). Real GDP growth rate: 3.1% (2000 ET). GDP per capita: PPP $25,000 (2000 est.) The composition of GDP by sectors of the economy: agriculture: 2.2%; industry: 30.4%; services: 67.4% (1999 est.). Proportion of the population below the poverty line: no data available. Percent distribution of household income or consumption: Consumer price inflation rate: 2% (2000). Labor force: 3.7 million people (1999). Employment structure: service sector 68%, industry and handicrafts 29%, agriculture and forestry 3% (1999 est.). Unemployment rate: 5.4% (1999). Budget: revenues: $56.3 billion; expenditures: $60.5 billion, including capital expenditures – NA (2000 est.). Spheres of economy: construction, production of mechanisms, automobiles and spare parts, food industry, production of chemicals, lumber, woodworking, paper industry and production of building board, production of telecommunications equipment, tourism. Growth in industrial production: 4.2% (2000). Electricity generation: 59.283 billion kWh (1999) Sources of electricity generation: fossil fuels: 29.53%; hydropower: 67.65%; nuclear fuel: 0%; others: 2.82% (1999). Electricity consumption: 53.231 billion kWh (1999) Electricity export: 13.507 billion kWh (1999) Electricity import: 11.605 billion kWh (1999) Agricultural products: cereals, potatoes, sugar beets, wine, fruits; dairy products, cattle, pigs, poultry; lumber. Export: $63.2 billion (2000 est.) Exports: machinery and equipment, paper and paperboard, metal products, chemicals, iron and steel; textiles, food products. Export partners: EU 64.2% (Germany 35.7%, Italy 8.7%, France 4.5%), Switzerland 5.9%, USA 4.5%, Hungary 3.9% (2000 est. ). Imports: $65.6 billion (2000 est.) Import articles: mechanisms and equipment, chemicals, metal products, oil and oil products; foodstuffs. Import partners: EU 70.3% (Germany 42.5%, Italy 7.9%, France 5.3%), USA 5.4%, Switzerland 3%, Hungary 2.8% (2000 est.). External debt: $16 billion (1999) Economic Aid Donor: Official Development Support – $472 million (1999). Currency: Austrian schilling, euro. Currency code: ATS; EUR; note: from January 1, 1999, the EU countries use the common currency euro, which is exchanged for the Austrian shilling at a fixed rate of 13.7603 shillings for 1 euro; euro will replace local currencies in 2002. Exchange rate: EUR/USD – 1.0659 (January 2001), 1.0854 (2000), 0.9386 (1999); AS/USD – 11.86 (January 1999), 12.91 (1999), 12.379 (1998), 12.204 (1997), 10.587 (1996). Fiscal year: calendar year.
Telecommunications
Telecommunications Telephone lines: 4 million (3.6 million analog main lines and 400,000 ISDN [Integrated Services Digital Network] communications) (1999). Mobile cell phones: 4.5 million (2000). Telephone system: internal: highly developed and efficient, with 48 main lines for every 100 people, the system is almost entirely digital; the fiber optic communication system is very extensive; any telephone and Internet services are available; international: satellite ground stations – 2 Intelsat stations (1 Atlantic Ocean and 1 Indian Ocean) and 2 Eutelsat stations. Broadcast stations: AM -1, FM -61 (and several hundred repeaters), shortwave -1 (1998). Radio receivers: 6.08 million (1997) Television broadcast stations: 45 (and 960 repeaters) (1995). Televisions: 4.25 million (1997) Internet country code: at Internet service providers: 37 (2000). Number of users: 2.6 million (2000).
Transport
Transport Railways: total: 6,095.2 km (3,643.3 km electrified); standard gauge: 5,564.2 km (1.435 m gauge, 3,521.2 km electrified); with a narrow gauge: 497.1 km (33.9 km with a gauge of 1,000 m, 497.1 km with a gauge of 0.760 m – 94 km electrified) (2001). Roads: Total: 133,361 km; paved: 133,361 km (including 1,613 km of expressways); unpaved: 0 km (1998). Waterways: 358 km (1999). Pipelines: for crude oil -777 km; for natural gas -840 km (1999). Ports and harbors: Vienna, Creme, Linz, Enns. Merchant navy: total: 23 vessels (displacement 1,000 tons or more) with a total displacement of 86,905 tons / 117,417 long tons of gross tonnage; ships of different types: dry cargo ships – 1, cargo ships – 18, combined dry cargo ships – 2, container ships – 2 (2000 est.). Airports: 55 (2000 est.). Airports with paved runways: total: 24; over 3,047 m: 1; from 2433 to Z047 m: 5; from 1524 to 2437 m:1; from 914 to 1523 m:3; less than 914 m: 14 (2000 est.). Airports with unpaved runways: total: 31; from 1524 to 2437 m:1; from 914 to 1523 m:3; less than 914 m: 27 (2000 est.). Helipads: 1 (2000 est.).
Armed Forces
Branches of the armed forces: ground forces (including the air division). Enlistment age: 19 years old. Total military manpower: men 15 to 49 pets: 2,091,263 (2001 est.). Eligible for military service: men 15 to 49 pets: 1,731,383 (2001 est.). Number of persons reaching military age each year: men: 50,580 (2001 est.). Military spending in dollar terms: $1.7 billion (1998) Military spending as part of GDP: 1.2% (1998).
International Issues
International issues International disputes: Austria has some grievances with Slovenia and the Czech Republic regarding nuclear power plants and the treatment of the German-speaking minority after World War II. – Illicit drugs: transit point for heroin from Southeast Asia and South American cocaine destined for Western Europe.
