Austria

Austria is a wealthy, highly developed economy closely tied to Germany and the wider European Union. A skilled workforce, strong industry, and a large services sector give it one of the highest living standards in the world.

Membership in the EU and the eurozone has anchored trade and investment, while Alpine tourism, both winter and summer, is a major source of income. Like much of Europe, Austria has navigated energy-price shocks and inflation following the war in Ukraine.

Key Sectors

Strengths include machinery and metal goods, vehicles and parts, chemicals, food processing, and a sophisticated banking and tourism sector. Austria is also a hub for trade and investment into Central and Eastern Europe.