Compare Austria (2007) - Austria (2008)

Compare Austria (2007) z Austria (2008)

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	Austria (2007)	Austria (2008)

Administrative divisions	9 states (Bundeslaender, singular - Bundesland); Burgenland, Kaernten (Carinthia), Niederoesterreich (Lower Austria), Oberoesterreich (Upper Austria), Salzburg, Steiermark (Styria), Tirol, Vorarlberg, Wien (Vienna)	9 states (Bundeslaender, singular - Bundesland); Burgenland, Kaernten (Carinthia), Niederoesterreich (Lower Austria), Oberoesterreich (Upper Austria), Salzburg, Steiermark (Styria), Tirol (Tyrol), Vorarlberg, Wien (Vienna)
Budget	revenues: $154.3 billion expenditures: $158.3 billion (2006 est.)	revenues: $176.4 billion expenditures: $178.3 billion (2007 est.)
Constitution	1920; revised 1929; reinstated 1 May 1945	1920; revised 1929; reinstated 1 May 1945; note - during the period 1 May 1934-1 May 1945 there was a fascist (corporative) constitution in place
Debt - external	$594.3 billion (October 2006 est.)	$752.5 billion (30 June 2007)
Diplomatic representation from the US	chief of mission: Ambassador Susan R. McCAW embassy: Boltzmanngasse 16, A-1090, Vienna mailing address: use embassy street address telephone: [43] (1) 31339-0 FAX: [43] (1) 3100682	chief of mission: Ambassador (vacant); Charge d'Affaires Scott KILNER embassy: Boltzmanngasse 16, A-1090, Vienna mailing address: use embassy street address telephone: [43] (1) 31339-0 FAX: [43] (1) 3100682
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 Austrian economy also benefits greatly from strong commercial relations, especially in the banking and insurance sectors, with central, eastern, and southeastern Europe. The economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. 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. The outgoing government has successfully pursued a comprehensive economic reform program, aimed at streamlining government and creating a more competitive business environment, further strengthening Austria's attractiveness as an investment location. It has implemented effective pension reforms; however, lower taxes in 2005-06 led to a small budget deficit in 2006. Weak domestic consumption and slow growth in Europe held the economy to growth rates below 3% in 2002-05. Due to higher growth across Europe, Austria grew 3.3 percent in 2006. To meet increased competition - especially from new EU members and Central European countries - Austria will need to continue restructuring, emphasizing knowledge-based sectors of the economy, and encouraging greater labor flexibility and greater labor participation by its aging population.	Austria, with its well-developed market economy and high standard of living, is closely tied to other EU economies, especially Germany's. The Austrian economy also benefits greatly from strong commercial relations, especially in the banking and insurance sectors, with central, eastern, and southeastern Europe. The economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. 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. The outgoing government has successfully pursued a comprehensive economic reform program, aimed at streamlining government and creating a more competitive business environment, further strengthening Austria's attractiveness as an investment location. It has implemented effective pension reforms; however, lower taxes in 2005-06 led to a small budget deficit in 2006 and 2007. Boosted by strong exports, growth nevertheless reached 3.3% in both 2006 and 2007, although the economy may slow in 2008 because of the strong euro, high oil prices, and problems in international financial markets. To meet increased competition - especially from new EU members and Central European countries - Austria will need to continue restructuring, emphasizing knowledge-based sectors of the economy, and encouraging greater labor flexibility and greater labor participation by its aging population.
Exchange rates	euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002)	euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)
Executive branch	chief of state: President Heinz FISCHER (since 8 July 2004) head of government: Chancellor Alfred GUSENBAUER (SPOe) (since 11 January 2007); Vice Chancellor Wilhelm MOLTERER (OeVP) (since 11 January 2007) cabinet: Council of Ministers chosen by the president on the advice of the chancellor elections: president elected by direct popular vote for a six-year term (eligible for a second term); presidential election last held 25 April 2004 (next to be held in April 2010); chancellor formally chosen by the president but determined by the coalition parties forming a parliamentary majority; vice chancellor chosen by the president on the advice of the chancellor election results: Heinz FISCHER elected president; percent of vote - Heinz FISCHER 52.4%, Benita FERRERO-WALDNER 47.6% note: government coalition - SPOe and OeVP	chief of state: President Heinz FISCHER (SPOe) (since 8 July 2004) head of government: Chancellor Alfred GUSENBAUER (SPOe) (since 11 January 2007); Vice Chancellor Wilhelm MOLTERER (OeVP) (since 11 January 2007) cabinet: Council of Ministers chosen by the president on the advice of the chancellor elections: president elected by direct popular vote for a six-year term (eligible for a second term); presidential election last held 25 April 2004 (next to be held in April 2010); chancellor formally chosen by the president but determined by the coalition parties forming a parliamentary majority; vice chancellor chosen by the president on the advice of the chancellor election results: Heinz FISCHER elected president; percent of vote - Heinz FISCHER 52.4%, Benita FERRERO-WALDNER 47.6% note: government coalition - SPOe and OeVP
Exports - partners	Germany 30.2%, Italy 9%, US 5.9%, Switzerland 4.7% (2006)	Germany 30.2%, Italy 9%, US 5.8%, Switzerland 4.7% (2006)
GDP - composition by sector	agriculture: 1.6% industry: 30.6% services: 67.8% (2006 est.)	agriculture: 1.6% industry: 30.4% services: 67.3% (2007 est.)
GDP - real growth rate	3.3% (2006 est.)	3.3% (2007 est.)
Industrial production growth rate	5.7% (2006 est.)	2.5% (2007 est.)
Inflation rate (consumer prices)	1.4% (2006 est.)	1.9% (2007 est.)
International organization participation	ACCT (observer), AfDB, AsDB, Australia Group, BIS, BSEC (observer), CE, CEI, CERN, EAPC, EBRD, EIB, EMU, ESA, EU, FAO, G- 9, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURSO, NAM (guest), NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE, Paris Club, PCA, PFP, Schengen Convention, SECI (observer), UN, UNCTAD, UNDOF, UNESCO, UNFICYP, UNHCR, UNIDO, UNMEE, UNOMIG, UNTSO, UNWTO, UPU, WCL, WCO, WEU (observer), WFTU, WHO, WIPO, WMO, WTO, ZC	ACCT (observer), ADB (nonregional members), AfDB, Australia Group, BIS, BSEC (observer), CE, CEI, CERN, EAPC, EBRD, EIB, EMU, ESA, EU, FAO, G- 9, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINURSO, NAM (guest), NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE, Paris Club, PCA, PFP, Schengen Convention, SECI (observer), UN, UNCTAD, UNDOF, UNESCO, UNFICYP, UNHCR, UNIDO, UNMEE, UNOMIG, UNTSO, UNWTO, UPU, WCL, WCO, WEU (observer), WFTU, WHO, WIPO, WMO, WTO, ZC
Labor force	3.52 million (2006 est.)	3.56 million (2007 est.)
Pipelines	gas 2,722 km; oil 663 km; refined products 149 km (2006)	gas 2,722 km; oil 663 km; refined products 157 km (2007)
Suffrage	18 years of age; universal	16 years of age; universal; note - reduced from 18 years of age in 2007
Unemployment rate	4.9% (2006 est.)	4.3% (2007 est.)

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