Economy of Austria
| Statistics | |
|---|---|
| Export goods | machinery and equipment, motor vehicles and parts, manufactured goods, chemicals, iron and steel, foodstuffs |
| Main export partners | Germany (+) 29.4% United States (+) 6.3% Italy (+) 6.2% Switzerland (+) 5.1% France (+) 4.8% Slovakia (+) 4.8% (2017) |
| Imports | $158.1 billion (2017 est.) |
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Contents
What are Austria Major imports?
Austria imports mainly machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products and foodstuffs. Its main import partners are European Union countries (Germany, Italy, Netherlands), Switzerland, China and United States.
What is Austria’s main export?
automobile
The major export commodity in Austria is the automobile and its components, machinery and paper products. Austria’s largest exports markets are European Union, United Sates and Switzerland.
What are the top three imports of Austria?
Imports The top imports of Austria are Cars ($9.35B), Vehicle Parts ($5.32B), Broadcasting Equipment ($4.4B), Refined Petroleum ($4.02B), and Packaged Medicaments ($3.59B), importing mostly from Germany ($67.5B), Italy ($11.7B), Czechia ($8.45B), China ($6.58B), and Switzerland ($6.54B).
What does Austria import from other countries?
Top 10
- Machinery including computers: US$22.8 billion (13.3% of total imports)
- Electrical machinery, equipment: $20.2 billion (11.7%)
- Vehicles: $17.8 billion (10.3%)
- Mineral fuels including oil: $9.4 billion (5.5%)
- Pharmaceuticals: $8 billion (4.6%)
- Plastics, plastic articles: $7.3 billion (4.2%)
What is Austria famous for?
Austria is famous for its castles, palaces and buildings, among other architectural works. Some of Austria’s most famous castles include Festung Hohensalzburg, Burg Hohenwerfen, Castle Liechtenstein, and the Schloß Artstetten.
What countries does Austria export to?
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| Austria Exports By Country | Value | Year |
|---|---|---|
| Germany | $49.24B | 2020 |
| United States | $10.48B | 2020 |
| Italy | $10.02B | 2020 |
| Switzerland | $8.95B | 2020 |
What is produced in Austria?
Crops include sugar beets, wheat, corn (maize), barley, potatoes, apples, and grapes. Pigs and cattle also are raised.
What products are made in Austria?
Selected examples are shown below.
- Ams AG (semiconductors)
- Austria Metall (metals)
- Borealis (polyethylene, plastics)
- Bösendorfer (pianos)
- Julius Meinl (coffee)
- KTM (motorcycles)
- OMV (petroleum)
- Red Bull GmbH (beverages)
What cars are made in Austria?
How many car brands are in Austria?
- Achleitner.
- Barbach (Michael Barbach Porsche Manufactur.
- Graf Carello.
- Haidlmair.
- Kreisel evex.
- KTM.
- PRC.
- Puch Pinzgauer (Spare parts)
What is the currency of Austria?
EuroAdoption of the euro
The euro banknotes and coins were introduced in Austria on 1 January 2002, after a transitional period of three years when the euro was the official currency but only existed as ‘book money’.
What is the most famous food in Austria?
Top 5 foods in Austria
- Tafelspitz. This is possibly one of the most popular dishes that can be found in Austria, and the name refers to the cut of meat which is known as the tri-tip.
- Wiener Schnitzel. This dish is a thin, breaded and deep fried meat dish usually made from veal.
- Wiener Würstchen.
- Apfelstrudl.
- Kaiserschmarrn.
What language is spoken in Austria?
German
What are Australia’s exports?
Although Croatian, Hungarian, Slovenian, Turkish, and other languages are spoken by the various minority groups, nearly all people in Austria speak German. The dialect of German spoken in Austria, except in the west, is Bavarian, sometimes called Austro-Bavarian.
What are some fun facts about Austria?
10 interesting facts about Austria
- The name Austria derives from a Germanic word ‘austro’ which means ‘east’.
- The Austrian flag is one of the oldest national flags in the world.
- The sewing machine was invented by Austrian Josef Madersperger.
- Approximately one quarter of the population of Austria lives in Vienna.
What is Austria good for?
See The City Named ‘Best for Quality Of Life’ Vienna has been named the ‘city with the best quality of life’ 8 times in a row by consulting firm Mercer. Low crime rates, clean air, cheap rents, and a rich culture are a few of the reasons why it has been given this accolade.
Does Austria speak English?
While English is widely spoken in Austria, it has no official status there. Instead, official communications, signage and so forth uses German, as that is the primary language of Austria.
Is Austria multicultural?
International communities in Austria
Six officially recognised ethnic groups live in the south and eastern sections of the country (Burgenland Croats, Roma, Slovaks, Slovenes, Czechs and Hungarians).Numerous advantages have lured emigrants to Austria for generations from a diverse range of countries.
Who does Austria Trade with?
Austria’s most important two-way trading partners are Germany, followed by Italy, the United States, and Switzerland. The European Union accounts for 70% of Austria’s foreign trade, with Germany constituting around 30% of that value.
Does Austria have a good economy?
The economy of Austria is a developed social market economy, with the country being one of the fourteen richest in the world in terms of GDP (gross domestic product) per capita.Labour movements are particularly strong in Austria, and they have a large influence on labour politics.
Why is Austria so rich?
Austria is regarded as a wealthy country. The reason is our high Gross Domestic Product, or GDP for short.The economic output of citizens and non-citizens counts towards the GDP, as long as it is produced within the country’s borders. The rate of change of the GDP is a measure of a country’s economic growth.
