Austria
Austria's economy encompasses successful high-tech sectors, a tourist industry which attracts wealthier visitors, and a strong agricultural base. It joined the EU in1995 and adopted the Euro in 2002.
Economic Strengths
Strong commercial relations, especially in the banking and insurance sectors, with central, eastern, and south-eastern Europe. Highly skilled labour force. Tourism is an important foreign currency earner. Germany is the major trading partner.
Economic Weaknesses
Competition from Central & Eastern Europe will require restructuring in the economy. Reliant on imported raw materials, particularly oil & gas. Process of introducing greater competition and deregulation has been slow. Population ageing.
| Population | 8,353,533 |
| Capital city | Vienna |
| Currency | Euro |
| World GNP Ranking | 35 |
| Unemployment | 4.3% |
| Inflation | 1.77% |
Source: Central Intelligence Agency; The World Factbook, March 2009