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Country facts
| Capital city: |
Vienna |
| Surface area: |
84,000 sq km |
| Population: |
8.3 million |
| Official language(s): |
German |
| Head of State: |
H.E. Federal President Dr Heinz Fischer |
| Head of Government: |
Federal Chancellor HE Werner Faymann |
| Australian exports to Austria: |
A$68 million |
| Australian imports from Austria: |
A$993 million |
| Austria's principal export destinations: |
Germany, Italy, USA |
| Austria's principal import sources: |
Germany, Italy, Switzerland
| (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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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.
Key economic indicators and statistics for 2008:
- GDP – US$432.4 billion
- GDP per capita – US$52,159
- Real GDP growth – 2 per cent
- Inflation – 2.9 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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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.
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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.
Major Australian exports to Austria (2007-08):
- Gold coin and legal tender coin – A$13 million
- Leather – A$11 million
- Civil engineering equipment and parts – A$8 million
- Electrical circuits equipment – A$6 million
Major Australian imports from Austria (2007-08):
- Passenger motor vehicles – A$97 million
- Non-alcoholic beverages – A$78 million
- Medicaments (including veterinary) – A$70 million
- Motorcycles and cycles – A$44 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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