Economy in Austria

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Austria has been a member of the European Union since 1 January 1995. Austria has a well-developed market economy with a high standard of living. With exports of goods and services reaching over 40% of GDP Austria's economy is closely integrated with other EU member countries especially with Germany. Austria's entry into the EU has drawn an influx of foreign investors attracted by Austria's access to the single European market.

Labor force: total: 3.646 million (1996)

by occupation: services 66.1% industry and crafts 29.6% agriculture are employed abroad; foreign laborers in Austria number 298 000 (1996)

Industries: food iron and steel machines textiles chemicals electrical paper and pulp tourism mining motor vehicles

Agriculture—products: grains potatoes sugar beets wine fruit dairy products; cattle pigs poultry; sawn wood

Exports: commodities: machinery and equipment iron and steel lumber textiles paper products chemicals

Imports: commodities: petroleum foodstuffs machinery and equipment vehicles chemicals textiles and clothing pharmaceuticals.

Currency: Euro

Exchange rates: 1 US Dollar = 0.6816 Euro

1 US Dollar = 0.6816 Euro 0.77929 Euro (EUR) = 10.72326 Austrian Schilling (ATS)
1 Euro (EUR) = 1.467 US Dollar (USD)  

October 04, 2006 change by giorgio

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