Austria

Austria has developed almost all sectors of the economy, starting from tourism (about 15 million people visit the country annually) and ending with aerospace technologies.

The main branches of industrial production are mechanical engineering (transport and agricultural), machine tool construction and production of equipment for other industries.

The main share in the country's economy is the service sector (65.8%). Industry accounts for 32.3%, and agriculture — 1.7%.

The basis of all light industry in Austria is textile, leather, footwear and clothing. The forestry, woodworking and pulp and paper industries are well developed.

The country also specializes in modern branches of the electrical and electronic industries. High-tech technologies and production are developing.

Proven recoverable reserves of natural energy resources in Austria are estimated at 0.282 billion tons (in coal equivalent). In the structure of total reserves, coal is 0.258 billion tons, or 91.5%. Crude oil and natural gas account for 3.5% and 5.0%, respectively.

As a land country, Austria conducts trade with other countries mainly by exporting and importing goods by rail. The country has access to the sea through the Danube River, which is of international importance. The main ports on the river are Linz and Vienna.

The export items in the Austrian trade are heavy industry products: equipment, machine tools, ferrous metals, as well as consumer goods (about 1/2 of all exports), stationery and food.

Agriculture is well developed in Austria. The basis of agriculture is dairy farming. Viticulture, grain production, pig breeding and fruit growing are also developed. The acreage covers 4.1 million hectares (about half of the country's area)

In 2019, the unemployment rate in the country was 2.7%, and inflation was 0.4 %