Austria

Description of Austria

Austria, a landlocked country in central Europe, is renowned for its rich cultural heritage, stunning Alpine landscapes, and strong economy. With a strategic location and a history marked by imperial grandeur, Austria has emerged as a prosperous nation with a high standard of living. As we delve into the intricate dynamics of Austria's geopolitical significance and macroeconomic indicators, we can gain a deeper understanding of how this country navigates its unique position in the global arena.

Population And Age Structure

Population, total: Austria's total population is 8,916,864. This is below the average total population of 40,097,746. Austria's rank of 98 out of 194 countries indicates it has a lower population compared to other nations.

Population ages 0-14 (% of total population): Austria's percentage of population ages 0-14 is 14.40%, which is below the average of 27.34%. With a rank of 179 out of 194 countries, Austria has a relatively lower proportion of children in its population.

Population ages 0-14, total: Austria has a total of 1,284,315 population aged 0-14. This is significantly lower than the average of 10,327,380. Austria's rank of 115 out of 194 countries highlights a smaller population of children compared to other nations.

Population ages 15-64 (% of total population): The percentage of Austria's population aged 15-64 is 66.45%, slightly higher than the average of 63.44%. With a rank of 61 out of 194 countries, Austria has a relatively higher proportion of working-age population.

Population ages 15-64, total: Austria's total population aged 15-64 is 5,925,020, significantly lower than the average of 26,003,407. This places Austria at a rank of 95 out of 194 countries, showing a smaller working-age population compared to the global average.

Population ages 65 and above (% of total population): Austria's percentage of population ages 65 and above is 19.15%, much higher than the average of 9.22%. With a rank of 24 out of 194 countries, Austria has a relatively larger elderly population compared to other nations.

Population ages 65 and above, total: Austria has a total of 1,707,529 population aged 65 and above. This is lower than the average of 3,766,959. Austria's rank of 53 out of 194 countries indicates it has a smaller elderly population compared to many other nations.

Summary

Austria has a below-average total population and a relatively lower percentage of children (ages 0-14) compared to the global average. However, it has a higher proportion of working-age population (ages 15-64) and a significantly larger elderly population (ages 65 and above) than the average. These demographic indicators are crucial as they influence labor force dynamics, healthcare, social welfare systems, and overall societal structure in Austria.

Population Miscellaneous

For Rural population, Austria has a value of 3,678,385, which is considerably below the attribute average of 18,044,041. Austria is ranked 84th out of 190 countries in this data set.

Austria's Rural population (% of total population) stands at 41.252, slightly above the attribute average of 41.158. It ranks 94th out of 190 countries.

The Urban population in Austria is 5,238,479, much lower than the attribute average of 22,425,747. Austria holds the 90th position out of 194 countries in this regard.

With respect to Urban population (% of total population), Austria scores 58.748, slightly below the attribute average of 59.691. It is ranked 101st out of 194 countries.

Austria's Age dependency ratio (% of working-age population) is 50.495, lower than the attribute average of 59.219, positioning Austria at 134th out of 194 countries.

The Birth rate, crude (per 1,000 people) is 9.4 for Austria, significantly lower than the attribute average of 19.384. Austria ranks 166th out of 192 countries in this aspect.

Concerning the Death rate, crude (per 1,000 people), Austria has a rate of 10.3, higher than the attribute average of 8.214. Austria is placed 37th out of 192 countries.

Austria's Fertility rate, total (births per woman) stands at 1.44, well below the attribute average of 2.603. Austria ranks 164th out of 190 countries in this parameter.

Summary

Austria demonstrates a unique demographic profile compared to global averages, with lower rural and urban populations, a lower age dependency ratio, and significantly lower birth and fertility rates. This suggests a shifting demographic landscape towards an aging population with implications for future workforce dynamics, economic productivity, and healthcare demands in Austria.

Military

Military expenditure in current USD for Austria is $3,840,077,510.54, which is below the average of $12,904,993,617.17. Austria ranks 44 out of 149 countries in this statistic.

Austria spends 0.88% of its GDP on military expenditure, which is below the average of 1.90%. It ranks 121 out of 148 countries in this category.

Austria imported $13,000,000 worth of arms, significantly lower than the average of $205,522,123.89. It ranks 78 out of 113 countries in arms imports.

For arms exports, Austria exported $9,000,000 worth of arms, far below the average of $705,705,882.35. It ranks 31 out of 34 countries in arms exports.

Austria has 23,000 armed forces personnel, lower than the average of 165,908.54 personnel. It ranks 98 out of 164 countries in this category.

Armed forces personnel in Austria constitute 0.50% of the total labor force, below the average of 1.28%. Austria ranks 114 out of 164 countries in this metric.

Summary

Austria has below-average military expenditure in both absolute terms and as a percentage of its GDP, coupled with lower-than-average arms imports and exports. The country also maintains a smaller armed forces personnel count compared to the global average, with a lower percentage relative to its total labor force. These indicators suggest that Austria places less emphasis on military spending and defense capabilities compared to many other nations, potentially reflecting a focus on alternative priorities such as economic development, social welfare, or diplomatic relations.

Natural Resources

1. Forest area (sq. km): Austria has a forest area of 38,991.5 sq. km, which is below the average of 211,606.11 sq. km. This places Austria at rank 77 out of 191 countries.

2. Land area (sq. km): Austria's land area of 82,520 sq. km is below the average of 665,166.51 sq. km, ranking Austria 113 out of 194 countries.

3. Surface area (sq. km): With a surface area of 83,879 sq. km, Austria falls below the average of 689,779.56 sq. km, placing it at rank 116 out of 194 countries.

4. Arable land (hectares): Austria's arable land of 1,324,971.4 hectares is below the average of 7,329,543.16 hectares. Austria ranks 97 out of 190 countries for this attribute.

5. Land under cereal production (hectares): The land under cereal production in Austria is 764,890 hectares, which is below the average of 4,206,011.63 hectares. This places Austria at rank 85 out of 174 countries.

6. Average precipitation in depth (mm per year): Austria receives an average precipitation depth of 1,110 mm per year, slightly below the average of 1,157.83 mm per year. Austria ranks 83 out of 178 countries in this aspect.

7. Renewable internal freshwater resources, total (billion cubic meters): Austria has 55 billion cubic meters of renewable internal freshwater resources, significantly lower than the average of 240.41 billion cubic meters. This places Austria at rank 74 out of 178 countries.

Summary

Austria ranks below average in key macroeconomic indicators such as forest area, land area, surface area, arable land, land under cereal production, average precipitation, and renewable internal freshwater resources. These statistics are crucial as they reflect Austria's environmental resources and agricultural capabilities compared to other countries. Understanding these indicators can help policymakers prioritize sustainable land use, water management, and agricultural development strategies to enhance Austria's competitiveness and resilience in the global market.

Resource Rents

Total natural resources rents (% of GDP): Austria's value is 0.071, which is significantly below the average of 4.630, ranking 151st out of 175 countries in the dataset.

Forest rents (% of GDP): Austria's value stands at 0.048, lower than the average of 1.526. This places Austria at the 128th position out of 174 countries in the dataset.

Oil rents (% of GDP): Austria's value is 0.017, notably below the average of 2.505, positioning Austria at the 86th rank out of 117 countries in the dataset.

Natural gas rents (% of GDP): Austria's value is 0.005, which is lower than the average of 1.253. Austria ranks 76th out of 96 countries in the dataset for this metric.

Summary

Austria's macroeconomic indicators related to natural resources rents, including total natural resources rents, forest rents, oil rents, and natural gas rents, all show values significantly below the respective global averages. This suggests that Austria relies less on natural resource-related income compared to many other countries globally. This could indicate a more diversified economy with potentially lower exposure to commodity price fluctuations and resource dependency risks, contributing to greater economic stability and resilience in the face of external shocks.

Commodities

For Cereal production (metric tons), Austria's value of 5,649,770 is significantly below the average of 17,249,946. Austria ranks 51 out of 174 countries in this dataset.

In Aquaculture production (metric tons), Austria's production is 4,541.91, notably lower than the average of 679,642.92. Austria ranks 96 out of 180 countries for this attribute.

When it comes to Capture fisheries production (metric tons), Austria's production of 350 falls far short of the average of 467,453.06. Austria is ranked 179th out of 190 countries in this category.

Austria's Total fisheries production (metric tons) stands at 4,891.91, well below the average of 1,153,914.85. In this attribute, Austria ranks 157th out of 182 countries.

Regarding Fertilizer consumption (kilograms per hectare of arable land), Austria's consumption is 137.97 kg/ha, slightly lower than the average of 159.04 kg/ha. Austria holds the 70th rank out of 187 countries for this metric.

Summary

Austria's agricultural sector lags behind global averages in several key indicators. The country's low cereal production, aquaculture, and fisheries output suggest challenges in meeting domestic demand and export potential. Additionally, its lower fertilizer consumption compared to the average indicates potential inefficiencies in resource utilization, which could hinder agricultural productivity and sustainability in the long run.

Intellectual Property

1. Industrial design applications, nonresident, by count: Austria's value of 55 is significantly below the attribute average of 1415.83. Austria ranks 86 out of 112 countries in this dataset.

2. Industrial design applications, resident, by count: Austria's value of 318 is below the attribute average of 9799.58. Austria ranks 49 out of 113 countries for this attribute.

3. Patent applications, nonresidents: Austria's value of 173 is below the attribute average of 6538.40. In this category, Austria is ranked 62 out of 129 countries.

4. Patent applications, residents: Austria's value of 2124 is below the attribute average of 19037.56. Austria ranks 19 out of 117 countries in this dataset.

5. Trademark applications, nonresident, by count: Austria's value of 8817 is below the attribute average of 15878.93. Austria ranks 43 out of 130 countries for this attribute.

6. Trademark applications, resident, by count: Austria's value of 16674 is below the attribute average of 111055.78. Austria is ranked 39 out of 129 countries in this dataset.

7. Scientific and technical journal articles: Austria's value of 13700.08 is slightly below the attribute average of 15103.76. Austria ranks 34 out of 192 countries for this attribute.

8. Charges for the use of intellectual property, payments (BoP, current US$): Austria's value of $1,635,897,813.80 is significantly below the attribute average of $3,218,843,494.39. Austria is ranked 28 out of 143 countries in this dataset.

9. Charges for the use of intellectual property, receipts (BoP, current US$): Austria's value of $1,535,015,172.51 is notably below the attribute average of $3,191,687,117.58. In this attribute, Austria is ranked 21 out of 122 countries.

10. Researchers in R&D (per million people): Austria's value of 5829.84 is above the attribute average of 2556.45. Austria ranks 8 out of 72 countries for this specific attribute.

Summary

In summary, Austria performs below average in industrial design applications, patent applications, trademark applications, and charges for the use of intellectual property compared to global averages. However, Austria excels in the number of researchers in R&D per million people, surpassing the attribute average significantly. These findings are crucial as they indicate Austria's strengths and weaknesses in innovation and intellectual property, highlighting areas for potential growth and development.

Broad Economy Attributes

When looking at GDP (current US$), Austria's value of 435,049,316,955.737 is slightly below the average of 442,870,224,838.682. Austria is ranked 25th out of 189 countries included in the data.

For GDP, PPP (current international $), Austria's value of 522,624,838,947.364 falls below the average of 734,141,122,350.783, placing Austria at the 40th rank out of 181 countries.

Austria's GDP per capita (current US$) stands at 48,789.50, which is significantly higher than the average of 15,462.11. This places Austria at the 17th rank out of 190 countries.

Regarding GDP per capita, PPP (current international $), Austria's value of 58,610.83 is notably above the average of 21,251.89. Austria holds the 13th rank out of 181 countries.

In terms of GNI (current US$), Austria's value of 439,547,216,701.013 is below the average of 452,040,815,370.697, with Austria ranking 25th out of 185 countries.

Austria's GNI, PPP (current international $) of 528,028,166,888.264 is lower than the average of 730,698,223,823.467. Austria ranks 39th out of 181 countries.

For GNI per capita, PPP (current international $), Austria's value of 59,220 exceeds the average of 20,615.75. Austria is ranked 13th among 181 countries.

Summary

Austria demonstrates a mixed performance across key macroeconomic indicators. While its GDP (current US$) and GNI (current US$) fall slightly below the global averages, its GDP per capita and GNI per capita (both current US$ and PPP) significantly exceed the respective global averages. This suggests that Austria has a strong focus on promoting individual prosperity and economic well-being despite its overall GDP and GNI figures being slightly less competitive globally.

These findings are important as they highlight Austria's commitment to ensuring a high quality of life for its citizens through robust individual income levels, even if the overall economic output may not rank as highly compared to other countries. This indicates a potential emphasis on income distribution and social welfare programs within the Austrian economy.

Broad Value Added

- Gross value added at basic prices (GVA) (current US$): Austria's GVA of $390,450,693,651.18 is above the average of $360,070,943,595.12, ranking 25th out of 176 countries.
- Agriculture, forestry, and fishing, value added (% of GDP): Austria's percentage of 1.07% is below the average of 10.86%, placing it at 164th out of 182 countries.
- Agriculture, forestry, and fishing, value added (current US$): Austria's value of $4,646,682,210.43 is lower than the average of $19,924,732,828.07, ranking 75th out of 182 countries.
- Services, value added (% of GDP): Austria's percentage of 63.19% is above the average of 56.72%, positioning it at 52nd out of 183 countries.
- Services, value added (current US$): Austria's value of $274,915,455,590.10 falls below the average of $295,837,711,130.69, ranking 26th out of 183 countries.
- Industry (including construction), value added (current US$): Austria's value of $110,888,555,850.65 is below the average of $118,421,095,413.50, placing it at 31st out of 183 countries.

Summary

Austria demonstrates a strong Gross Value Added at basic prices (GVA), ranking 25th globally. However, its Agricultural sector's contribution to GDP is significantly lower than the average, placing it at 164th. On the contrary, Austria's Service sector surpasses the global average both in GDP percentage and current value added, highlighting a shift towards a more service-oriented economy. The data underscores Austria's need to further develop its agricultural industry to align with global standards while leveraging its competitive edge in the services sector for continued economic growth.

Manufacturing Value Added

Manufacturing, value added (current US$): Austria's value of 70367515545.2298 is below the average of 76207179589.66. Austria ranks 27 out of 173 countries in this data.

Manufacturing, value added (% of GDP): Austria's value of 16.17% is above the average of 11.90%. Austria ranks 42 out of 173 countries in this data.

Medium and high-tech manufacturing value added (% manufacturing value added): Austria's value of 44.75% is significantly above the average of 24.49%. Austria ranks 21 out of 149 countries in this data.

Chemicals (% of value added in manufacturing): Austria's value of 8.79% is below the average of 11.56%. Austria ranks 50 out of 89 countries in this data.

Food, beverages and tobacco (% of value added in manufacturing): Austria's value of 12.08% is below the average of 24.51%. Austria ranks 74 out of 92 countries in this data.

Machinery and transport equipment (% of value added in manufacturing): Austria's value of 29.15% is significantly above the average of 16.85%. Austria ranks 18 out of 93 countries in this data.

Textiles and clothing (% of value added in manufacturing): Austria's value of 1.44% is below the average of 6.33%. Austria ranks 77 out of 93 countries in this data.

Other manufacturing (% of value added in manufacturing): Austria's value of 48.54% is above the average of 42.13%. Austria ranks 25 out of 94 countries in this data.

Summary

Austria demonstrates a strong manufacturing sector, with above-average contributions to GDP and a high percentage of medium and high-tech manufacturing value added. However, the country lags in the chemicals and food, beverages, and tobacco sectors compared to global averages. The significant presence of machinery and transport equipment in Austria's manufacturing value added indicates a focus on advanced manufacturing capabilities, positioning the country competitively in the global market.

Money

For Inflation, consumer prices (annual %), Austria's inflation rate stands at 1.38%, below the average of 8.26%. This places Austria at the 98th rank out of 165 countries.

As for Inflation, GDP deflator (annual %), Austria's rate of 2.72% is also lower than the average of 6.90%. In this category, Austria holds the 82nd rank out of 188 countries.

Summary

Austria's inflation rates for both consumer prices and GDP deflator are below the global averages, positioning the country in the lower percentiles in comparison to other nations. These lower inflation rates indicate relative price stability within the Austrian economy, contributing to a favorable environment for consumers, businesses, and investors by preserving the purchasing power of the currency and encouraging sustainable economic growth.

Consumption Expenditure

Final consumption expenditure (current US$): Austria's final consumption expenditure is $308 billion, below the average of $381 billion. Austria ranks 28th out of 159 countries.

Final consumption expenditure (% of GDP): The final consumption expenditure as a percentage of GDP in Austria is 70.90%, lower than the average of 82.37%. With a rank of 126 out of 159 countries, Austria's consumption percentage is below average.

General government final consumption expenditure (current US$): In Austria, the government's final consumption expenditure is $91.9 billion, slightly below the average of $93.7 billion. Austria is ranked 25th out of 158 countries in this attribute.

General government final consumption expenditure (% of GDP): Austria's government final consumption expenditure accounts for 21.12% of GDP, higher than the average of 18.71%. Austria is ranked 47th out of 158 countries for this measure.

Household and NPISHs Final consumption expenditure (current US$): The final consumption expenditure by households and NPISHs in Austria is $216.5 billion, below the average of $290.1 billion. Austria is ranked 30th out of 158 countries for this attribute.

Households and NPISHs final consumption expenditure (% of GDP): Austria's household and NPISHs final consumption expenditure as a percentage of GDP is 49.77%, lower than the average of 63.68%. With a rank of 128 out of 158 countries, Austria's expenditure percentage is below average.

Summary

Austria's final consumption expenditure falls below the global average both in total value and as a percentage of GDP. The government's expenditure is slightly below average in terms of both total amount and as a share of GDP. Household and NPISHs final consumption expenditure also lags behind the global average in both total value and as a percentage of GDP. These indicators are crucial as they reflect the country's domestic demand, economic stability, and the government's fiscal management.

Equities

1. Listed domestic companies, total: Austria has 68 listed domestic companies, which is below the average of 636.625. This ranks Austria 49th out of 72 countries.

2. Stocks traded, total value (current US$): With a total value of $39,779,610,000, Austria's stock trading activity is significantly below the average of $1,379,501,950,820.91. Austria ranks 25th out of 71 countries in this attribute.

3. Stocks traded, total value (% of GDP): Austria's stock trading value, equivalent to 9.14% of its GDP, is notably lower than the average of 31.65%. This places Austria in the 28th position out of 71 countries.

4. Market capitalization of listed domestic companies (current US$): The market capitalization of Austria's listed domestic companies is $132,083,250,000, much lower than the average of $1,196,037,851,618.88. Austria ranks 30th out of 73 countries for this metric.

5. Market capitalization of listed domestic companies (% of GDP): Austria's market capitalization, at 30.36% of its GDP, falls short of the average of 71.24%. Austria is ranked 43rd out of 73 countries in this aspect.

6. S&P Global Equity Indices (annual % change): Austria's S&P Global Equity Index saw a -5.42% annual change, which is below the average annual change of 2.06%. This places Austria 48th out of 79 countries in terms of equity index performance.

Summary

Austria's performance in key macroeconomic indicators such as the number of listed domestic companies, stock trading value, and market capitalization falls below global averages, ranking between 25th to 49th out of the listed countries. These indicators suggest that Austria's financial markets may be relatively smaller and less active compared to other nations, potentially impacting its attractiveness to investors and its overall economic growth.

Investment

Foreign direct investment, net (BoP, current US$): Austria's value of $13.61 billion is significantly above the average of -$1.62 billion, ranking 9th out of 169 countries.

Foreign direct investment, net inflows (BoP, current US$): Austria's value of -$12.43 billion is notably below the average of $5.75 billion, ranking 177th out of 182 countries.

Foreign direct investment, net inflows (% of GDP): Austria's value of -2.86% is below the average of 2.61%, ranking 167th out of 178 countries.

Foreign direct investment, net outflows (BoP, current US$): Austria's value of $1.18 billion is below the average of $5.71 billion, ranking 40th out of 156 countries.

Foreign direct investment, net outflows (% of GDP): Austria's value of 0.27% is lower than the average of 1.00%, ranking 72nd out of 155 countries.

Portfolio Investment, net (BoP, current US$): Austria's value of -$13.80 billion is substantially below the average of $679.56 million, ranking 153rd out of 159 countries.

Portfolio equity, net inflows (BoP, current US$): Austria's value of $4.80 billion is lower than the average of $9.20 billion, ranking 15th out of 125 countries.

Summary

Austria's foreign direct investment performance is mixed, with high net inflows but low net outflows compared to global averages. This indicates a strong preference for attracting foreign investment rather than investing abroad. The country's portfolio investment and equity inflows are below average, suggesting potential opportunities for growth through increased investment diversity and attractiveness to portfolio investors.

Broad Trade Attributes

1. Trade (% of GDP): Austria's trade accounts for 99.71% of its GDP, surpassing the average of 82.34%. This places Austria at rank 38 out of 163 countries.

2. Merchandise trade (% of GDP): Austria's merchandise trade represents 78.58% of its GDP, higher than the average of 60.01%. This ranks Austria 36 out of 186 countries.

3. Trade in services (% of GDP): With trade in services at 27.74% of GDP, Austria exceeds the average of 24.63%. It holds the 38th position out of 171 countries.

4. External balance on goods and services (current US$): Austria's balance stands at $15,059,615,523.16, significantly above the average of $3,405,509,011.13, ranking 25th out of 163 countries.

5. External balance on goods and services (% of GDP): Austria's external balance is 3.46% of its GDP, higher than the average of -5.97%. This places Austria at rank 39 out of 163 countries.

Summary

Austria demonstrates a strong trade-oriented economy with trade, merchandise trade, and trade in services accounting for a significant percentage of its GDP. The country also maintains a healthy external balance on goods and services, with a surplus well above the global average. These indicators signify Austria's robust international trade relationships, competitiveness in the global market, and overall economic stability.

Net Trade

- The Current account balance (BoP, current US$) for Austria is 14913264657.61, placing it at rank 18 out of 170 countries. This value is significantly above the attribute average of 1443864831.49.

- Austria's Current account balance (% of GDP) stands at 3.43, positioning it at rank 35 out of 170 countries. This value is higher than the attribute average of -2.36.

- In Net trade in goods and services (BoP, current US$), Austria records 14424189369.18, ranking 25 out of 171 countries. This is notably higher than the attribute average.

- Austria's Net primary income (BoP, current US$) is 4509644470.67, placing it at rank 15 out of 170 countries. This value is above the attribute average.

- The Net secondary income (BoP, current US$) for Austria is -4018273622.84, positioning it at rank 149 out of 170 countries. This value is notably below the attribute average.

- Austria's Net trade in goods (BoP, current US$) stands at 5116380354.88, ranking 36 out of 171 countries. This value is significantly above the attribute average.

- Austria's Net capital account (BoP, current US$) is -481787835.81, placing it at rank 150 out of 159 countries. This value is below the attribute average.

- In Net financial account (BoP, current US$), Austria records 7420598890.89, ranking at 23 out of 170 countries. This value is notably higher than the attribute average.

Summary

Austria demonstrates a strong current account balance both in absolute terms and as a percentage of GDP, outperforming the global averages significantly. The country's positive net trade in goods and services, primary income, and financial account further bolster its economic position. However, Austria's negative net secondary income and capital account may indicate areas for improvement in terms of managing liabilities and maximizing returns.

These indicators are crucial as they reflect Austria's ability to sustain international transactions, generate income from investments abroad, and attract financial inflows. The country's positive balances in key areas point towards a resilient economy with robust trade and investment activities, while the negative balances signal areas that may require policy adjustments to enhance overall economic performance and sustainability.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Austria's value of $254.42 billion is above the average of $146.24 billion. Austria ranks 26th out of 170 countries in this attribute.

2. Exports of goods and services (BoP, current US$): Austria's value of $224.24 billion is also above the average of $122.94 billion. Austria ranks 25th out of 170 countries in this attribute.

3. Exports of goods and services (current US$): Austria's value of $224.42 billion is above the average of $129.60 billion. Austria ranks 26th out of 163 countries in this attribute.

4. Exports of goods and services (% of GDP): Austria's value of 51.58% is higher than the average of 38.19%. Austria ranks 33rd out of 163 countries in this attribute.

5. Goods exports (BoP, current US$): Austria's value of $159.25 billion is significantly above the average of $93.31 billion. Austria ranks 29th out of 171 countries in this attribute.

6. International tourism, receipts (% of total exports): Austria's value of 6.85% is below the average of 9.74%. Austria ranks 44th out of 120 countries in this attribute.

7. ICT goods exports (% of total goods exports): Austria's value of 3.09% is below the average of 3.81%. Austria ranks 36th out of 142 countries in this attribute.

Summary

Austria demonstrates a strong position in terms of exports, with values consistently above global averages across various indicators such as total exports, goods exports, and exports as a percentage of GDP. This indicates a robust international trade presence and contributes significantly to Austria's economic stability and growth. The country's rankings among other nations also highlight its competitiveness and importance in the global market.

Merchandise Exports

1. Austria's Merchandise exports (current US$) amount to $169.42 billion, exceeding the average of $89.54 billion, securing a rank of 29 out of 187 countries in the dataset.

2. Austria's Agricultural raw materials exports (% of merchandise exports) stand at 1.52%, below the average of 2.97%, placing Austria at the 63rd rank out of 151 countries.

3. Food exports (% of merchandise exports) from Austria make up 8.70%, which is below the average of 24.06%. Austria ranks 110 out of 152 countries in this aspect.

4. Austria's Fuel exports (% of merchandise exports) constitute 1.94%, far lower than the average of 13.70%, positioning Austria at the 90th rank out of 147 countries.

5. Ores and metals exports (% of merchandise exports) from Austria represent 2.99%, falling short of the average of 9.10%, resulting in a rank of 81 out of 152 countries.

6. Austria's Merchandise exports by the reporting economy, residual (% of total merchandise exports) is at 0.04%, significantly lower than the average of 3.20%. This places Austria at the 116th rank out of 166 countries included in the dataset.

Summary

Austria's merchandise exports exceed the global average, with a ranking of 29 out of 187 countries. However, its exports of agricultural raw materials, food, fuel, and ores/metals fall below the respective global averages, resulting in rankings ranging from 63rd to 110th. The low diversification of exports could leave Austria vulnerable to fluctuations in specific commodity markets, highlighting the need for strategic economic planning and promoting export diversification to enhance resilience and sustainable growth.

Technology Exports

Manufactures exports (% of merchandise exports): Austria's value of 80.39% is well above the average of 42.62%. This places Austria at rank 20 out of 152 countries.

High-technology exports (current US$): Austria's export value of $15,986,052,212 is below the average of $16,655,934,078.80. Austria ranks 25th out of 151 countries in this category.

High-technology exports (% of manufactured exports): Austria's value of 12.26% is higher than the average of 10.15%. Austria is ranked 40th out of 150 countries for this statistic.

Medium and high-tech exports (% manufactured exports): Austria's value of 62.54% is significantly above the average of 34.29%. This places Austria at rank 25 out of 149 countries.

Summary

Austria stands out in its macroeconomic indicators related to exports. With high values in manufactures exports, high-technology exports, and medium and high-tech exports, Austria ranks well above the global average in these categories. These indicators highlight Austria's strong presence in manufacturing and technology sectors, showcasing its competitiveness and strength in the global market.

Service Exports

1. Service exports (BoP, current US$): Austria's service exports amount to $64,990,066,771.46, which is significantly higher than the average of $28,917,292,503.82. Austria ranks 21st out of 171 countries in this attribute.

2. ICT service exports (BoP, current US$): Austria's ICT service exports total $8,962,945,639.40, surpassing the average of $4,578,501,153.77. With a rank of 19 out of 166 countries, Austria performs well in this category.

3. ICT service exports (% of service exports, BoP): Austria's ICT service exports account for 13.79% of its total service exports, which is higher than the average of 11.75%. The country holds the 48th position out of 166 countries in this aspect.

4. Communications, computer, etc. (% of service exports, BoP): Austria's percentage of service exports related to communications, computer, etc. stands at 49.96%, above the average of 45.85%. Austria ranks 78th out of 169 countries for this metric.

5. Transport services (% of service exports, BoP): Austria's transport services contribute to 24.47% of its service exports, slightly exceeding the average of 21.80%. In this category, Austria is placed 62nd out of 169 countries.

6. Travel services (% of service exports, BoP): Austria's travel services represent 21.09% of its service exports, lower than the average of 26.40%. The country ranks 80th out of 167 nations in this attribute.

7. Insurance and financial services (% of service exports, BoP): Austria's insurance and financial services make up 4.47% of its service exports, below the average of 6.46%. With a rank of 69 out of 161 countries, Austria demonstrates room for growth in this area.

Summary

Austria excels in the export of services, particularly in ICT services, communications, and transport services, as seen from its higher-than-average exports in these sectors. However, there are opportunities for growth in areas like travel services and insurance/financial services, where Austria lags behind global averages. Diversifying and strengthening these sectors could further boost Austria's economic growth and competitiveness on the global stage.

Commercial Service Exports

- Austria's Commercial service exports amount to approximately $64.34 billion, surpassing the average by $35.83 billion, ranking 21st out of 171 countries.
- Travel services account for 21.30% of Austria's commercial service exports, below the average of 27.89%, positioning Austria as the 83rd out of 167 countries.
- Austria's Computer, communications, and other services represent 49.46% of its commercial service exports, exceeding the average by 7.03%, placing Austria 71st out of 169 countries.
- Insurance and financial services constitute 4.52% of Austria's commercial service exports, lower than the average of 6.97%, ranking Austria 71st out of 161 countries.
- Transport services contribute 24.72% to Austria's commercial service exports, slightly above the average of 23.37%, positioning Austria as the 64th out of 169 countries.

Summary

Austria's commercial service exports of $64.34 billion position the country competitively on the global stage, ranking 21st out of 171 countries. However, Austria's reliance on travel services is below the average, highlighting a potential area for growth. The country's strong presence in computer, communications, and other services demonstrates its strength in technology-related sectors, while its performance in insurance and financial services suggests room for improvement in diversification. Maintaining a balanced portfolio of service exports is crucial for Austria to enhance competitiveness and sustainability in the global market.

Broad Import Attributes

Imports of goods and services (current US$): Austria's value of 209.36 billion USD is above the average of 126.19 billion USD. It ranks 27th out of 163 countries.

Imports of goods and services (% of GDP): With a value of 48.12%, Austria exceeds the average of 44.15%. It holds the 50th rank out of 163 countries.

International tourism, expenditures (% of total imports): Austria's value of 2.65% is below the average of 3.98%. It ranks 76th out of 131 countries.

ICT goods imports (% total goods imports): Austria's value of 5.48% is below the average of 6.85%. It ranks 67th out of 143 countries.

Goods imports (BoP, current US$): Austria's value of 154.13 billion USD is above the average of 92.01 billion USD. It holds the 24th rank out of 171 countries.

Imports of goods and services (BoP, current US$): With a value of 209.82 billion USD, Austria surpasses the average of 120.32 billion USD. It ranks 26th out of 170 countries.

Imports of goods, services and primary income (BoP, current US$): Austria's value of 235.48 billion USD is higher than the average of 144.51 billion USD. It ranks 27th out of 170 countries.

Summary

Austria shows strength in its import indicators, with values consistently above global averages and ranking within the top 50 countries for most metrics. This signifies a robust economy with strong demand for foreign goods and services, indicating potential for economic growth and international trade partnerships.

Merchandise Imports

- Austria's merchandise imports amount to $172.44 billion, significantly higher than the average of $89.39 billion, ranking 25th out of 190 countries. - Manufactures imports account for 77.58% of Austria's merchandise imports, above the average of 66.76%, positioning the country 21st out of 152 countries. - Agricultural raw materials imports represent 1.85% of Austria's merchandise imports, surpassing the average of 1.27%, ranking 28th out of 152 countries. - Food imports constitute 8.40% of Austria's merchandise imports, below the average of 15.89%, placing the country 132nd out of 152 countries. - Fuel imports make up 5.73% of Austria's merchandise imports, under the average of 11.38%, positioning Austria 120th out of 152 countries. - Austria's ores and metals imports represent 3.96% of merchandise imports, above the average of 2.57%, ranking 26th out of 152 countries. - The residual category for merchandise imports in Austria only amounts to 0.0002% of total imports, significantly below the average of 2.51%, ranking 175th out of 180 countries.

Summary

Austria's high level of merchandise imports, particularly in manufactures, agricultural raw materials, and ores/metals, showcases its strong industrial and agricultural sectors, contributing significantly to its economy. However, the low percentage of food and fuel imports compared to the average indicates potential challenges for domestic food and energy security. Understanding these import dynamics is crucial for policymakers in Austria to ensure a balanced trade flow, reduce dependency on external sources for essential goods, and enhance overall economic resilience.

Service Imports

Service imports (BoP, current US$): Austria's service imports amount to $55,684,553,316.57, ranking 22nd out of 171 countries. This value is significantly higher than the average service import value of $27,615,356,170.47.

Communications, computer, etc. (% of service imports, BoP): Austria's percentage of service imports allocated to communications, computer, etc. is 57.36%, ranking 47th out of 169 countries. This figure is notably higher than the average of 44.40%.

Transport services (% of service imports, BoP): Austria allocates 29.11% of its service imports to transport services, ranking 86th out of 169 countries. This percentage is below the average of 32.90%.

Travel services (% of service imports, BoP): Austria's allocation of 8.05% of service imports to travel services places it at 107th out of 169 countries. This figure is lower than the average of 14.14%.

Insurance and financial services (% of service imports, BoP): Austria dedicates 5.47% of its service imports to insurance and financial services, ranking 98th out of 169 countries. This percentage falls below the average of 8.53%.

Summary

Austria stands out for its high level of service imports, especially in communications, computer, etc., with a significant allocation of 57.36%. However, there is room for improvement in the allocation towards transport and travel services, both below the global average. The country also falls short in dedicating a smaller percentage to insurance and financial services compared to the average. These indicators are crucial as they reflect Austria's strategic priorities and areas for potential growth and development in the service sector.

Commercial Service Imports

1. Commercial service imports (current US$): Austria's commercial service imports amount to $55,557,469,827.97, which is significantly higher than the average of $27,102,746,128.60. Austria ranks 21st out of 171 countries in this aspect.

2. Computer, communications and other services (% of commercial service imports): Austria's percentage of 57.27% in this category is above the average of 41.71%. The country ranks 44th out of 169 countries for this attribute.

3. Insurance and financial services (% of commercial service imports): Austria's 5.48% allocation to insurance and financial services is below the average of 8.85%. The country ranks 101st out of 169 countries for this metric.

4. Transport services (% of commercial service imports): Austria's 29.18% allocation to transport services is below the average of 34.71%. The country ranks 89th out of 169 countries in this category.

5. Travel services (% of commercial service imports): Austria's 8.07% allocation to travel services is below the average of 14.73%. The country ranks 113th out of 169 countries for this attribute.

Summary

Austria stands out with its high commercial service imports, ranking 21st globally, well above the average. The country shows a strong inclination towards computer, communications, and related services, ranking 44th worldwide. However, it allocates a lower percentage to insurance and financial services and transport services, ranking 101st and 89th, respectively, highlighting potential areas for development. These statistics are crucial as they indicate Austria's economic openness, sectoral preferences, and areas that may require attention to enhance overall trade dynamics and economic growth.

Infrastructure

1. Railways, passengers carried (million passenger-km): Austria's value of 7417.005 million passenger-km is below the attribute average of 32281.92 million passenger-km. Austria ranks 19th out of 64 countries in this dataset.

2. Railways, goods transported (million ton-km): Austria's value of 20498.028 million ton-km is below the attribute average of 119231.19 million ton-km. Austria ranks 17th out of 62 countries in this dataset.

3. Air transport, freight (million ton-km): Austria's value of 74.561 million ton-km is below the attribute average of 1384.37 million ton-km. Austria ranks 54th out of 126 countries in this dataset.

4. Air transport, registered carrier departures worldwide: Austria's value of 121668 departures is below the attribute average of 134365.61 departures. Austria ranks 30th out of 149 countries in this dataset.

5. Air transport, passengers carried: Austria's value of 13285414 passengers carried is above the attribute average of 11848242.70 passengers. Austria ranks 26th out of 149 countries in this dataset.

6. Rail lines (total route-km): Austria's value of 4966 total route-km is below the attribute average of 12204.74 total route-km. Austria ranks 23rd out of 66 countries in this dataset.

Summary

In analyzing Austria's key macroeconomic indicators related to transportation, it is apparent that the country lags behind the attribute averages in several areas such as railways passengers carried, railways goods transported, air transport freight, and total rail lines. However, Austria performs relatively better in air transport for passengers carried. These indicators are crucial as they highlight Austria's transportation infrastructure efficiency and connectivity, which are vital for trade, tourism, and overall economic development.

Information Technology Infrastructure

1. Secure Internet servers: Austria has 301,414 secure internet servers, which is below the global average of 458,294. Austria ranks 32 out of 193 countries in this attribute.

2. Secure Internet servers (per 1 million people): Austria has 33,802.69 secure internet servers per 1 million people, well above the average of 14,067.17. Austria ranks 26 out of 193 countries in this attribute.

3. Individuals using the Internet (% of population): 87.53% of Austria's population uses the internet, which is higher than the average of 64.77%. Austria ranks 38 out of 180 countries in this attribute.

4. Fixed broadband subscriptions: Austria has 2,606,000 fixed broadband subscriptions, below the average of 6,591,956.35. Austria ranks 47 out of 185 countries in this attribute.

5. Mobile cellular subscriptions: Austria has 10,717,445 mobile cellular subscriptions, well below the average of 42,526,463.87. Austria ranks 85 out of 193 countries in this attribute.

Summary

Austria exhibits a strong presence of secure internet servers both in total count and per capita, ranking 32nd and 26th globally, respectively. Additionally, with 87.53% of its population using the internet, Austria surpasses the average global internet usage rate. However, in terms of fixed broadband and mobile cellular subscriptions, Austria falls below the global averages, ranking 47th and 85th, respectively. These indicators are crucial as they reflect Austria's connectivity infrastructure, digital adoption rate, and potential for future technological advancements and innovations.

Energy Consumption

For Renewable energy consumption, Austria's value is 35.77%, which is above the average of 32.18%. Austria ranks 71 out of 191 countries in this dataset.

Regarding CO2 emissions, Austria's value is 59,142.4 kt. This is significantly below the average of 171,895.94 kt. Austria ranks 49 out of 188 countries for CO2 emissions.

Summary

Austria demonstrates strong commitment to sustainability through its above-average renewable energy consumption rate and below-average CO2 emissions compared to global averages. The country's high ranking in renewable energy consumption aligns with the global shift towards cleaner energy sources, showcasing Austria's environmental responsibility and potential for long-term energy security.

Government Balance Sheet

1. Central government debt in Austria is 99.91% of GDP, which is above the average of 74.12% of GDP. Austria ranks 14th out of 61 countries in this attribute data.

2. Austria's reserves and related items amount to $1,739,967,693.90, below the average of $1,924,407,186.58. The country ranks 32nd out of 171 countries in this category.

3. Total reserves minus gold in Austria are $13,415,880,225.13, significantly below the average of $74,221,588,171.61. Austria ranks 63rd out of 161 countries in this attribute.

4. Austria's total reserves, including gold, amount to $30,439,562,425.13, also below the average of $85,708,019,773.47. The country ranks 54th out of 161 countries in this category.

5. Austria's total reserves in months of imports is 1.55, much lower than the average of 7.10 months. Austria is ranked 135th out of 151 countries in this metric.

Summary

Austria has high central government debt compared to the global average, ranking 14th out of 61 countries. Its reserves and related items, total reserves minus gold, total reserves including gold, and total reserves in months of imports are all below global averages, indicating lower financial stability and potential challenges in managing external shocks. These indicators are crucial as they reflect Austria's fiscal health, ability to address economic crises, and readiness to cope with international trade dynamics.

Government Revenue

1. Revenue, excluding grants (% of GDP): Austria's value is 43.47% of GDP, which is above the attribute average of 27.02%. This places Austria at rank 5 out of 122 countries in the dataset.

2. Grants and other revenue (% of revenue): Austria's value is 8.77% of revenue, below the attribute average of 23.54%. This places Austria at rank 90 out of 108 countries in the dataset.

3. Social contributions (% of revenue): Austria's value is 35.56% of revenue, above the attribute average of 22.29%. This places Austria at rank 15 out of 81 countries in the dataset.

4. Taxes on goods and services (% of revenue): Austria's value is 26.14% of revenue, below the attribute average of 31.82%. This places Austria at rank 91 out of 122 countries in the dataset.

5. Other taxes (% of revenue): Austria's value is 3.53% of revenue, above the attribute average of 2.12%. This places Austria at rank 21 out of 106 countries in the dataset.

6. Taxes on income, profits and capital gains (% of revenue): Austria's value is 26.00% of revenue, slightly above the attribute average of 24.66%. This places Austria at rank 51 out of 119 countries in the dataset.

Summary

Austria demonstrates strong revenue generation capabilities with revenue, excluding grants, accounting for 43.47% of its GDP, placing it above the global average. However, the country relies less on grants and other revenue sources compared to the average, which could impact its ability to fund certain programs effectively. Additionally, Austria's high reliance on social contributions indicates a robust social welfare system, while its lower taxes on goods and services might signal potential challenges in generating revenue from consumption-based taxes. Diversification in revenue sources, especially through taxes on goods and services, could help Austria enhance its fiscal stability and resilience.

Taxes

1. Tax revenue (% of GDP): Austria's tax revenue is 24.42% of its GDP, which is above the average of 16.72%. This places Austria at rank 15 out of 123 countries in the dataset.

2. Taxes on income, profits and capital gains (% of total taxes): Austria's taxes in this category account for 46.70% of total taxes, surpassing the average of 38.40%. This ranks Austria 30th out of 120 countries.

3. Tariff rate, applied, weighted mean, all products (%): Austria's applied tariff rate is 1.48%, significantly lower than the average of 5.21%. This places Austria at rank 111 out of 153 countries in the dataset.

Summary

Austria demonstrates a strong reliance on tax revenue with 24.42% of its GDP coming from taxes, placing it above the global average. The country also heavily depends on taxes related to income, profits, and capital gains, comprising 46.70% of total taxes. Furthermore, Austria maintains a low applied tariff rate of 1.48%, signaling a more open trade policy compared to the global average. These indicators are crucial as they reflect Austria's fiscal health, economic structure, and trade competitiveness in the international market.

Government Expenses

1. Expense (% of GDP): Austria's expense as a percentage of GDP is 50.57%, which is 18.89% higher than the average of 31.69%. This places Austria at rank 9 out of 123 countries in the dataset.

2. Compensation of employees (% of expense): With a value of 10.01%, Austria's compensation of employees as a percentage of expenses is below the average of 24.70%. Austria holds the 110th rank out of 123 countries.

3. Goods and services expense (% of expense): Austria's expenditure on goods and services as a percentage of total expenses is 5.85%, which is below the average of 14.77%. The country ranks 105th out of 122 countries.

4. Interest payments (% of expense): Austria's interest payments as a percentage of expenses stand at 2.71%, lower than the average of 6.85%. Austria is ranked 85th out of 121 countries.

5. Other expense (% of expense): Austria's other expenses as a percentage of total expenses amount to 5.32%, slightly below the average of 8.29%. The country holds the 67th rank out of 120 countries.

6. Subsidies and other transfers (% of expense): Austria allocates 76.10% of its expenses to subsidies and transfers, significantly higher than the average of 43.29%. This places Austria at rank 8 out of 121 countries.

Summary

Overall, Austria's expense as a percentage of GDP is relatively high compared to the average, placing it at a noteworthy 9th rank globally. However, when dissected further, the country's allocation towards compensation of employees, goods and services, interest payments, and other expenses falls below average levels. Particularly significant is Austria's substantial allocation towards subsidies and other transfers, signifying a strong government support system. These indicators are crucial as they provide insights into Austria's fiscal priorities, government spending patterns, and social welfare commitments.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
GDP per capita (current US$)	17/190
GDP per capita, PPP (current international $)	13/181
GNI per capita, PPP (current international $)	13/181
Foreign direct investment, net (BoP, current US$)	9/169
Net primary income (BoP, current US$)	15/170
Revenue, excluding grants (% of GDP)	5/122
Expense (% of GDP)	9/123
Subsidies and other transfers (% of expense)	8/121

Ranks in Bottom Decile For:

Attribute	Rank/Total
Population ages 0-14 (% of total population)	179/194
Arms exports (SIPRI trend indicator values)	31/34
Capture fisheries production (metric tons)	179/190
Agriculture, forestry, and fishing, value added (% of GDP)	164/182
Foreign direct investment, net inflows (BoP, current US$)	177/182
Foreign direct investment, net inflows (% of GDP)	167/178
Portfolio Investment, net (BoP, current US$)	153/159
Net capital account (BoP, current US$)	150/159
Merchandise imports by the reporting economy, residual (% of total merchandise imports)	175/180