(Last updated: 10 May 2012)

Current business situation

The Department of Foreign Affairs and Trade (DFAT) provides advice for business travellers and tourists going to Austria. This is regularly updated, and should be checked before planning travel.

Country facts

(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)

Economic climate

Austria joined the European Union (EU) in 1995. A top priority of the current coalition government is the implementation of a package of measures designed to boost the competitiveness of Austria as a European business location.

For the latest key economic indicators and statistics please see the Department of Foreign Affairs and Trade country economic fact sheet.

Political climate

Austria is a federal republic. It is divided into nine provinces and each has its own provincial assembly and government. The Federal Assembly, which has a similar structure to the Australian Federal Parliament, comprises the Lower House (the ‘Nationalrat’) with members elected for four years, and the Upper House (the ‘Bundesrat’) with members elected by the provincial assemblies.

The Federal President, elected by popular vote for six years, is the Head of State. The President, Dr Heinz Fischer, carries out representative functions and generally acts on the advice of the Council of Ministers, led by the Federal Chancellor.

Trade relations and statistics

Austria has strong ties with its EU partners. It also has good trading ties with Central Europe, Switzerland, USA, and Japan. As an EU member, Austria participates in the European Economic Area. It is also a member of the World Trade Organisation.

Please see the Department of Foreign Affairs and Trade country economic fact sheet for key trade statistics.