Republic of Austria

Wealth and National Well-Being

Country Comparisons: chart

World Factbook: "Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector."

Economic growth rate
2012: 0.6%
2011: 2.7%
2010: 2.1%

Unemployment rate
2012: 4.4%
2011: 4.2%
2010: 6.9%

Value Added Tax: 20% (Nov 2010)

Public debt
2011: 72.1% of GDP
2010: 70.4% of GDP
2009: 66.5% of GDP

Family income distribution (gini index)
2007: 26.0, tied with four other nations for fourth most equal out of 140. Like other nations that rank high in equality, Austria has a high revenue to GDP ratio: 58.1% compared to15% for the United States. The US places around 95 nations behind Austria in income equality between families.

People

Net migration rate
2011: More arriving than leaving. A net gain of 1.81 per 1,000 population.

Religion
Fifteen percent of Catholics attend mass weekly (New York Times, April 19, 2005). Roman Catholics 78.6%, Protestant 4.7%, Muslim 4.2%, (2001 census)

Geography

Just south of Germany and the Czech Republic. The western half is mountainous - in the Alps. 

Government

Head of State: Heinz Fischer, president since 8 July 2004, Social Democrat (left of center), suspended membership during his presidency. Head of Government (chancellor), Werner Faymann, since 2 December 2008,Social Democrat). Wikipedia (as of Aug 28, 2012): "Faymann's administration has been notable in enacting a wide range of progressive reforms in areas such as education and social security."

Federal republic, suffrage for age sixteen and up. Parliamentary system. Bicameral legislature. Capital: Vienna

Recent History

May 15, 1955: Allied occupation ends. Austria regains full independence in an agreement with the Soviet Union. Soviet forces are pulled from the country. Austria has agreed to remain neutral and therefore will not join NATO.

1994, in a referendum more than two-thirds vote in favor of membership in the European Union. Membership begins on January 1, 1995.