OECD Economic Surveys: Austria 2019

Abstract

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of Austria were reviewed by the Committee on 03 October 2019. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 18 October 2019.

The Secretariat’s draft report was prepared for the Committee by Rauf Gönenç and Dennis Dlugosch under the supervision of Sebastian Barnes. Statistical research assistance was provided by Eun Jung Kim and editorial assistance by Heloise Wickramanayake. The Survey also benefitted from contributions by Selçuk Gül and Aleksandra Paciorek.

The previous Survey of Austria was issued in July 2017.

Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at http://www.oecd.org/eco/surveys.

Basic statistics of Country, 2018

(Numbers in parentheses refer to the OECD average)1

LAND, PEOPLE AND ELECTORAL CYCLE
Population (million)	8.8		Population density per km²	107.2	(37.8)
Under 15 (%)	14.1	(17.8)	Life expectancy (years, 2017)	81.6	(80.3)
Over 65 (%)	19.4	(17.1)	Men (2017)	79.3	(77.7)
Foreign born (%, 2017)	18.8		Women (2017)	84.1	(83.0)
Latest 5-year average growth (%)	0.9	(0.6)	Latest general election	September-2019
ECONOMY
Gross domestic product (GDP)			Value added shares (%)
In current prices (billion USD)	456.2		Primary sector	1.3	(2.4)
In current prices (billion EUR)	386.2		Industry including construction	28.5	(27.5)
Latest 5-year average real growth (%)	1.8	(2.3)	Services	70.2	(70.1)
Per capita (000 USD PPP)	55.5	(46.4)
GENERAL GOVERNMENT Per cent of GDP
Expenditure (OECD: 2017)	48.5	(40.3)	Gross financial debt (OECD: 2017)	95.9	(112.4)
Revenue (OECD: 2017)	48.6	(38.0)	Net financial debt (OECD: 2017)	51.5	(69.6)
EXTERNAL ACCOUNTS
Exchange rate (EUR per USD)	0.85		Main exports (% of total merchandise exports)
PPP exchange rate (USA = 1)	0.79		Machinery and transport equipment	38.5
In per cent of GDP			Manufactured goods	21.2
Exports of goods and services	54.6	(56.1)	Chemicals and related products, n.e.s.	12.4
Imports of goods and services	51.0	(52.0)	Main imports (% of total merchandise imports)
Current account balance	2.3	(0.3)	Machinery and transport equipment	34.8
Net international investment position	3.7		Manufactured goods	16.2
			Miscellaneous manufactured articles	14.5
LABOUR MARKET, SKILLS AND INNOVATION
Employment rate (aged 15 and over, %)	73.0	(68.4)	Unemployment rate, Labour Force Survey (aged 15 and over, %)	4.8	(5.3)
Men	77.5	(76.0)	Youth (aged 15-24, %)	9.4	(11.1)
Women	68.6	(60.9)	Long-term unemployed (1 year and over, %, 2017)	1.8	(1.7)
Participation rate for 15-64 year-olds (%)	76.8	(72.4)	Tertiary educational attainment (aged 25-64, %, 2017)	32.4	(36.9)
Average hours worked per year (OECD: 2017)	1 511	(1 746)	Gross domestic expenditure on R&D (% of GDP, 2016)	3.1	(2.5)
ENVIRONMENT
Total primary energy supply per capita (toe, 2017)	3.8	(4.1)	CO2 emissions from fuel combustion per capita (tonnes, 2016)	7.2	(9.0)
Renewables (%, 2017)	29.7	(10.2)	Water abstractions per capita (1 000 m³, 1995)	0.4
Exposure to air pollution (more than 10 g/m³ of PM 2.5, % of population, 2017)	87.0	(58.7)	Municipal waste per capita (tonnes, 2017)	0.6	(0.5)
SOCIETY
Income inequality (Gini coefficient, 2016, OECD: 2015)	0.284	(0.315)	Education outcomes (PISA score, 2015)
Relative poverty rate (%, 2016, OECD: 2015)	9.8	(11.8)	Reading	485	(492)
Median disposable household income (000 USD PPP, 2016, OECD: 2015)	32.5	(23.3)	Mathematics	497	(490)
Public and private spending (% of GDP)			Science	495	(493)
Health care (2017)	10.3	(8.8)	Share of women in parliament (%)	34.4	(29.7)
Pensions (2015)	13.9	(8.5)	Net official development assistance (% of GNI, 2017)	0.3	(0.4)
Education (public, 2017)	5.2	(4.5)

Note: The year is indicated in parenthesis if it deviates from the year in the main title of this table.

1. Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 80% of member countries.

Source: Calculations based on data extracted from databases of the following organisations: OECD, International Energy Agency, International Labour Organisation, International Monetary Fund, World Bank.