Here is your first Forum » Economy of Austria

The currency of the country is Euro. The symbol used for this currency is €, abbreviated to EUR. 5.5% of the country's population is unemployed. The total number of unemployed in Austria is 481,350. Austria exports around 165.6 billion US dollars a year and imports around 167.9 billion US dollars. The country's Gini index is 26.3. Austria has a Human Development Index (HDI) of 0.881. The Global Peace Index (GPI) for Austria is 1.198. Austria has a public debt equal to 57.4% of the country's gross domestic product (GDP) as estimated in 2012. Austria is considered a developed nation. A nation's stage of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. The country's main industries are construction, machinery, vehicles and parts, food, metals, chemicals, lumber and wood, paper and cardboard, communications equipment and tourism.

The total gross domestic product (GDP) calculated as purchasing power parity (PPP) in Austria is 402 billion US dollars. Every year, consumers spend around $230,783 million. The ratio of consumer spending to GDP in Austria is 61%, the ratio of consumer spending to the world consumer market is 0.54. Corporate income tax in Austria is 25%. Personal income tax ranges from 0% to 50% depending on your specific situation and income level. VAT in Austria is 20%.