Austria

basic country information

Capital: Vienna, Wien
Administrative divisions: 9 states (Bundeslaender, singular - Bundesland); Burgenland, Kaernten, Niederoesterreich, Oberoesterreich, Salzburg, Steiermark, Tirol, Vorarlberg, Wien
Independence: 1156 (from Bavaria)
National holiday: National Day, 26 October (1955); note - commemorates the State Treaty restoring national sovereignty and the end of occupation and the passage of the law on permanent neutrality
Legal system: civil law system with Roman law origin; judicial review of legislative acts by the Constitutional Court; separate administrative and civil/penal supreme courts; accepts compulsory ICJ jurisdiction
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.
Austria, with its well-developed market economy and high standard of living, is closely tied to other EU economies, especially Germany\'s. Membership in the EU has drawn an influx of foreign investors attracted by Austria\'s access to the single European market and proximity to EU aspirant economies. Slowing growth in Germany and elsewhere in the world held the economy to only 1.2% growth in 2001 and 0.6% in 2002. To meet increased competition from both EU and Central European countries, Austria will need to emphasize knowledge-based sectors of the economy, continue to deregulate the service sector, and lower its tax burden.
GDP - purchasing power parity: $226 billion 2002 est.)
GDP - real growth rate: 0.6% (2002 est.)
GDP - per capita: purchasing power parity - $27,700 (2002 est.)
GDP - composition by sector: agriculture: 2% industry: 33% services: 65% (2002 est.)
Inflation rate (consumer prices): 1.8% (2002 est.)
Labor force: 4.3 million (2001)
Labor force - by occupation: services 67%, industry and crafts 29%, agriculture and forestry 4% (2001 est.)
Unemployment rate: 4.8% (2002 est.)
Industries: construction, machinery, vehicles and parts, food, chemicals, lumber and wood processing, paper and paperboard, communications equipment, tourism
Industrial production growth rate: 3.8% (2001 est.)
Currency: euro (EUR)
Internet country code: .at
Internet users: 3.7 million (2002)
Titles: Doktor (Dr.), Magister (Mag.) similar to the U.S. master of arts, Diplom Ingenieur (D.I. or Dipl. Ing.)
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