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Main article: Austria
Financial system
GDP
2022
GDP size - $0.48 trillion
Industry's share of GDP is less than 17.5%
2021
GDP size - $0.48 trillion
Agriculture's share of GDP - 1.2%
2018: Tourism's share of GDP
Non-financial debt
2022: Aggregate non-financial debt
National debt
2023: State debt - 78% of GDP
2021: State debt - 83% of GDP
2017: State debt - 79% of GDP
Inflation
2022
Inflation in November - 11%
Inflation in July - 9.2%
Key rate
2020:0% Rate
Energy carriers
2024:80% of Austrian gas consumption is provided by Gazprom
Over the past 7 months, including March 2024, Gazprom has covered more than 80% of Austrian imports under a long-term contract calculated until 2040.
2023
Austria consumes more than 50% of gas flowing into the EU through Ukraine and for the first time becomes a net exporter of energy resources
Austria overflowing with Russian gas, which allows a longtime customer to Gazprom"" increase sales to their neighbors.
This country has been a hub for Russian flows for more than half a century, where storage facilities and pipelines have historically been set up to pump fuel to, Hungary,, and Germany. Italy Slovenia The state-owned company OMV has a long-term contract with Gazprom that obliges it to buy gas reaching the border.
Formally, Austria declares its desire to diversify supplies from Russia, but trade data indicate stable supplies through Ukraine, which satisfy more than half of the needs of the country's economy. The transit agreement through Ukraine ends in 2024.
Russia helped Austria to become one of the countries exporting energy resources. OMV says Gazprom delivered the agreed volumes in 2023. For the first time in 20 years, Austria has become a net exporter of energy resources.
Reduced gas consumption
2022
Return to the use of coal after restrictions on gas supplies from Russia
In June 2022, it became known that Austria was returning to the age of coal, reviving the use of the dirtiest fossil fuels for electricity generation.
The state-controlled Verbund AG, Austria's largest utility and most expensive company, was ordered on June 20 to prepare the mothballed Mellach coal plant for operation. The decision was made after Russia restricted natural gas exports amid EU sanctions imposed against the Russian Federation during the conflict in Ukraine.
Refusal to supply oil from Russia
Austria, after the start of the Russian military operation in Ukraine, refused to purchase Russian oil, the Kurier newspaper reports, citing a representative of OMV Group.
"The volume of oil purchases in Russia has always been very low, with the outbreak of war we replaced it with another oil from the market," the newspaper quotes a representative of the Austrian company.
According to the Statistics Office of the country and the Association of the Oil Industry, in 2021 only 7.8% or 596 thousand tons of Austrian oil imports fell on the Russian Federation.
At the same time, Kazakhstan has been the most important oil supplier to Austria "for many years" - it accounts for 38.9% of all imports. Libya is in second place (22.1%), Iraq is in third (20.7%).
Austria is a member of the Three Seas Initiative, aimed at countering Russia.
2020: More than 50% of gas supplies received from Russia
Power
2023: Government contributions to pay for energy by citizens and companies reached 5% of GDP
2022: Rise in electricity prices due to pressure on Russia. Business demands lifting of sanctions
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In early November 2022, the business community in Austria, including 8896 companies, demanded the immediate lifting of all anti-Russian sanctions. It is noted that the calls are aimed at "preventing the threat of economic destruction and at the prosperity" of Austria.
2021: Oil is the main source of energy in the country
2020: Average energy consumption per capita
and
Automotive market
2022: Minimum age to drive - 17
2021:120 thousand cars produced
Trade
2022
Germany is the largest export destination
Trade deficit with China
2019: Computer Device Exports
Tourism
2022:26 million foreign tourists
2019: More than 45% of the population went on tourist trips. Italy is the most popular country
2018: Tourism revenue
R&D
2020: R&D spending - $12.7 billion
Labour market
2022: Proportion of workers aged 65 or over - above 5%
Salaries
Average monthly salary
Salaries of the first persons in government management
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Unemployment
2023: Youth unemployment - 9.6%
2022: Unemployment rate - 4.3%
2020: Unemployment rate - 5.8%
Agriculture
2019: Average use of pesticides in agriculture
Food industry
2021: Cheese production - 24.1 kg per capita
Consumption
Tea
2018: Per capita tea consumption per kg per year
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Milk
2018: Milk consumption in litres per year per person
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Meat
2023: Pork is the most consumed type of meat
2019: Pork is the most consumed type of meat
Beer
2019: Beer consumption in litres per year per person
Alcohol market
Minimum age to purchase alcoholic beverages
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