Diplomatic representation from the US:
chief of mission: Ambassador William Lee LYONS BROWN, Jr.
embassy: Boltzmanngasse 16, A-1090, Vienna
mailing address: use embassy street address
telephone: [43] (1) 31339-0, 31375, 31335
FAX: [43] (1) 3100682
Flag description:
three equal horizontal bands of red (top), white, and red
Economy Austria
Economy - overview:
Austria, with its well-developed market economy and high standard
of living, is closely tied to other EU economies, especially
Germany's. The economy features up-to-date industrial and
agricultural sectors. Timber is a key industry, 47% of the land area
being forested. Membership in the EU has drawn an influx of foreign
investors attracted by Austria's access to the single European
market and proximity to the new EU economies. Slow growth in Europe
has held the economy to 0.7% growth in 2001, 1.4% in 2002, 0.8% in
2003, and 1.9% in 2004. To meet increased competition from both EU
and Central European countries, particularly the new EU members,
Austria will need to emphasize knowledge-based sectors of the
economy, continue to deregulate the service sector, and encourage
much greater participation in the labor market by its aging
population. The aging phenomenon, together with already high health
and pension costs, poses fundamental problems in tax and welfare
policies.
GDP (purchasing power parity):
$255.9 billion (2004 est.)
GDP - real growth rate:
1.9% (2004 est.)
GDP - per capita:
purchasing power parity - $31,300 (2004 est.)
GDP - composition by sector: agriculture: 2.3% industry: 30.8% services: 66.9% (2004 est.)
Labor force: 3.45 million (2004 est.)
Labor force - by occupation: agriculture and forestry 4%, industry and crafts 29%, services 67% (2001 est.)