Austria
| Country summary | |
|---|---|
|
Capital |
Vienna |
|
Borders |
Czech Republic 362 km, Germany 784 km, Hungary 366 km, Italy 430 km, Liechtenstein 35 km, Slovakia 91 km, Slovenia 330 km, Switzerland 164 km |
|
Government type |
federal republic |
|
Population |
8,210,281 (July 2010 est.)[1] |
|
Population growth |
0.052% (2010 est.)[1] |
|
Life expectancy |
79.5 years[1] |
|
Unemployment |
4.8% (2009 est.)[1] |
|
22[2] | |
|
16[3] | |
|
28[4] | |
Once the center of power for the large Austro-Hungarian Empire, Austria was reduced to a small republic after its defeat in World War I. Following annexation by Nazi Germany in 1938 and subsequent occupation by the victorious Allies in 1945, Austria's status remained unclear for a decade. A State Treaty signed in 1955 ended the occupation, recognized Austria's independence, and forbade unification with Germany. A constitutional law that same year declared the country's "perpetual neutrality" as a condition for Soviet military withdrawal. The Soviet Union's collapse in 1991 and Austria's entry into the European Union in 1995 have altered the meaning of this neutrality. A prosperous, democratic country, Austria entered the EU Economic and Monetary Union in 1999. In January 2009, Austria assumed a nonpermanent seat on the UN Security Council for the 2009-10 term.[1]
Economical characteristics
- Currency: Euro (ISO code: EUR)
- Central bank discount rate: [1]
- Commercial banks lending rate: 6.82% (31 December 2008)[1]
- is part of the Eurozone
Notable events:
- Banking crisis: May 1873-1874, 1924, November 1929[5]
- Hyperinflation: 1921-1922
- Years in inflation: 13.3% (share of years 1800-2009 with annual inflation above 20 per cent per annum)
- Public default: 1802-1815, 1816, 1868-1870, 1914-1915, 1932-1933, 1938, 1940-1952 (external), 1945 (domestic)[6]
Statistics
| Statistic / Year | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|
| GDP (million USD)[7] | 210 930 | 191 200 | 190 155 | 205 955 | 252 034 | 289 026 | 304 008 | 322 788 | 370 684 | 413 503 |
| Govt. debt (% of GDP)[8] | 65.717 | 65.884 | 66.372 | 68.677 | 67.504 | 67.247 | 67.719 | 63.896 | 60.052 | 64.543 |
| Govt. revenue (% of GDP)[9] | 38.380 | 37.835 | 39.693 | 38.824 | 38.680 | 38.795 | 37.743 | 37.240 | 37.486 | 37.353 |
| Govt. expenses (% of GDP)[10] | 41.408 | 40.617 | 41.065 | 40.751 | 41.099 | 44.078 | 40.097 | 39.518 | 38.782 | 38.367 |
| Debt to revenue (years) | 1.712 | 1.741 | 1.672 | 1.769 | 1.745 | 1.733 | 1.794 | 1.716 | 1.602 | 1.728 |
References
Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 CIA - The World Factbook. "Austria", from The World Factbook. Referenced 2010-09-29.
- ↑ Heritage Foundation. "Austria", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-29.
- ↑ Transparency International. "Austria", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-09-29.
- ↑ Doing Business. "Austria", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-29.
- ↑ Carmen M. Reinhart and Kenneth S. Rogoff. "This Time is Different", Princeton University Press, ISBN 978-0-691-14216-6, p. 350-351. (The list does not claim to be complete.) Referenced 2011-07-19.
- ↑ Carmen M. Reinhart. "This Time is Different Chartbook: Country Histories on Debt, Default, and Financial Crises" (pdf), March 3, 2010, p. 21. (The list does not claim to be complete.) Referenced 2011-07-19.
- ↑ World Bank. "Austria: GDP", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Austria: government debt", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Austria: government revenue", from World Bank Data. Referenced 2010-09-29.
- ↑ World Bank. "Austria: government expenses", from World Bank Data. Referenced 2010-09-29.
Links
- Austria on Wikipedia
- Central bank of Austria
- Studies from the Library of Congress (1986-1998)
- BBC country profile
- Hyperinflation, Money Demand, and the Crack-up Boom by Thorsten Polleit, January 2010
- Finance and Banking in the Austrian Empire and the Republic of Austria by Ludwig von Mises, 1921
- In the Shadow of Dr. Lueger (pdf) F. Andrei Znamenski, 2013
