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    Austria Economy - 2003
    https://theodora.com/wfb2003/austria/austria_economy.html
    SOURCE: 2003 CIA WORLD FACTBOOK

      Economy - overview: Austria, with its well-developed market economy and high standard of living, is closely tied to other EU economies, especially Germany's. Membership in the EU has drawn an influx of foreign investors attracted by Austria's access to the single European market and proximity to EU aspirant economies. Slowing growth in Germany and elsewhere in the world held the economy to only 1.2% growth in 2001 and 0.6% in 2002. To meet increased competition from both EU and Central European countries, Austria will need to emphasize knowledge-based sectors of the economy, continue to deregulate the service sector, and lower its tax burden.


      GDP: purchasing power parity - $226 billion (2002 est.)


      GDP - real growth rate: 0.6% (2002 est.)


      GDP - per capita: purchasing power parity - $27,700 (2002 est.)


      GDP - composition by sector: agriculture: 2%
      industry: 33%
      services: 65% (2002 est.)


      Population below poverty line: NA%


      Household income or consumption by percentage share: lowest 10%: 2.5%
      highest 10%: 22.5% (1995)


      Distribution of family income - Gini index: 31 (1995)


      Inflation rate (consumer prices): 1.8% (2002 est.)


      Labor force: 4.3 million (2001)


      Labor force - by occupation: services 67%, industry and crafts 29%, agriculture and forestry 4% (2001 est.)


      Unemployment rate: 4.8% (2002 est.)


      Budget: revenues: $53 billion
      expenditures: $54 billion, including capital expenditures of $NA (2001 est.)


      Industries: construction, machinery, vehicles and parts, food, chemicals, lumber and wood processing, paper and paperboard, communications equipment, tourism


      Industrial production growth rate: 3.8% (2001 est.)


      Electricity - production: 58.75 billion kWh (2001)


      Electricity - production by source: fossil fuel: 29.3%
      hydro: 67.2%
      other: 3.5% (2001)
      nuclear: 0%


      Electricity - consumption: 54.85 billion kWh (2001)


      Electricity - exports: 14.25 billion kWh (2001)


      Electricity - imports: 14.47 billion kWh (2001)


      Oil - production: 20,670 bbl/day (2001 est.)


      Oil - consumption: 262,400 bbl/day (2001 est.)


      Oil - exports: 35,470 bbl/day (2001)


      Oil - imports: 262,000 bbl/day (2001)


      Oil - proved reserves: 85.69 million bbl (January 2002 est.)


      Natural gas - proved reserves: 24.9 billion cu m (January 2002 est.)


      Agriculture - products: grains, potatoes, sugar beets, wine, fruit; dairy products, cattle, pigs, poultry; lumber


      Exports: $70 billion f.o.b. (2001)


      Exports - commodities: machinery and equipment, motor vehicles and parts, paper and paperboard, metal goods, chemicals, iron and steel; textiles, foodstuffs


      Exports - partners: EU 63% (Germany 35%, Italy 9%, France 5%), Switzerland 5%, US 5%, Hungary 4% (2000)


      Imports: $74 billion c.i.f. (2001)


      Imports - commodities: machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products; foodstuffs


      Imports - partners: EU 68% (Germany 42%, Italy 7%, France 5%), US 6%, Switzerland 3%, Hungary 2% (2000)


      Debt - external: $12.1 billion (2001 est.)


      Economic aid - donor: ODA, $410 million (2000)


      Currency: euro (EUR)
      note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by the financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries


      Currency code: EUR


      Exchange rates: euros per US dollar - 1.0626 (2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999), 12.3791 (1998)


      Fiscal year: calendar year

      NOTE: The information regarding Austria on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Austria Economy 2003 should be addressed to the CIA.

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    https://theodora.com/wfb2003/austria/austria_economy.html

    Revised 20-Sep-03
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