Economy, Finance and Trade: Austria

May 2024

In 2023, Austria’s real GDP contracted by 0.7%, which was below Western Europe’s average growth. The economic slowdown was attributable to high inflation, rising interest rates, labour shortages and sluggish public consumption and investment. Going forward, economic recovery is projected to be gradual, with a slight increase in GDP expected in 2024, and then growth picking up more strongly in 2025. Meanwhile, inflation is predicted to decelerate over the near term.

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The Country Briefings series examine market potential, economic and consumer trends impacting each country and how they are set to change.

Each Country Briefing covers one of these topics:

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Economy, Finance and Trade: Austria


Austria’s GDP shrinks in 2023, with a slight recovery expected in 2024
Inflation forecast to decrease amid tight monetary policy
Austria’s exports grow in 2023, while imports decline
Budget deficit and public debt are expected to decrease over the near term


Chart 1 Economic Landscape of Austria 2023-2028
Chart 2 Real GDP Growth in Austria 2010-2028
Chart 3 GDP Size and Growth 2018-2028
Chart 4 Gross Value Added by Sector in Austria 2023
Chart 5 Domestic Demand 2023 and Period Growth 2018-2023
Chart 6 Standardised Business Confidence Index 2018-2025
Chart 7 Standardised Consumer Confidence Index 2018-2025
Chart 8 Productivity 2018/2023
Chart 9 Productivity by Sector in Austria 2023 and CAGR 2018-2023
Chart 10 Monetary Landscape of Austria 2023
Chart 11 Inflation 2018-2028
Chart 12 Average Inflation 2018-2028
Chart 13 Interest Rates in Austria 2018-2025
Chart 14 Exchange Rates 2018-2025
Chart 15 Money Supply Growth and Money Velocity in Austria 2018-2025
Chart 16 Foreign Trade Landscape of Austria 2023
Chart 17 Exports and Export Price Index in Austria 2018-2023
Chart 18 Exports by Commodity in Austria 2023
Chart 19 Top 10 Export Destinations 2023 and Period Growth 2018-2023
Chart 20 Imports and Import Price Index in Austria 2018-2023
Chart 21 Imports by Commodity in Austria 2023
Chart 22 Top 10 Import Origins 2023 and Period Growth 2018-2023
Chart 23 Investment Landscape of Austria 2022-2023
Chart 24 Foreign Direct Investment Inflows and FDI intensity 2022
Chart 25 Foreign Direct Investment Inflows and Outflows in Austria 2017-2022
Chart 26 Gross Fixed Capital Formation in Austria 2018-2025
Chart 27 Government Budget Landscape of Austria 2023
Chart 28 Public Debt 2023
Chart 29 Government Revenue 2023
Chart 30 Government Expenditure 2023
Chart 31 Government Expenditure by Economic Type in Austria 2023
Chart 32 Government Expenditure by Function in Austria 2023 and Period Growth 2018-2023
Chart 33 Baseline and Scenario Forecasts in Austria 2022-2028

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