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Action; three composite leagues of the Austrian People's Party or

       OeVP representing business, labor, and farmers and other

       non-government organizations in the areas of environment and human

       rights

      International organization participation:

       AfDB, AsDB, Australia Group, BIS, BSEC (observer), CE, CEI, CERN,

       EAPC, EBRD, EIB, EMU, ESA, EU, FAO, G- 9, IADB, IAEA, IBRD, ICAO,

       ICC, ICCt, ICFTU, ICRM, IDA, IEA, IFAD, IFC, IFRCS, ILO, IMF, IMO,

       Interpol, IOC, IOM, ISO, ITU, MIGA, MINURSO, NAM (guest), NEA, NSG,

       OAS (observer), OECD, OPCW, OSCE, Paris Club, PCA, PFP, UN, UNCTAD,

       UNDOF, UNESCO, UNFICYP, UNHCR, UNIDO, UNITAR, UNMEE, UNMIK, UNOMIG,

       UNTSO, UPU, WCL, WCO, WEU (observer), WFTU, WHO, WIPO, WMO, WToO,

       WTO, ZC

      Diplomatic representation in the US:

       chief of mission: Ambassador Eva NOWOTNY

       chancery: 3524 International Court NW, Washington, DC 20008–3035

       consulate(s) general: Chicago, Los Angeles, and New York

       FAX: [1] (202) 895–6750

       telephone: [1] (202) 895–6700

      Diplomatic representation from the US:

       chief of mission: Ambassador William Lee LYONS BROWN, Jr.

       embassy: Boltzmanngasse 16, A-1090, Vienna

       mailing address: use embassy street address

       telephone: [43] (1) 31339–0, 31375, 31335

       FAX: [43] (1) 3100682

      Flag description:

       three equal horizontal bands of red (top), white, and red

      Economy Austria

      Economy - overview:

       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. Slow growth in

       Germany and elsewhere in the world held the economy to 0.7% growth

       in 2001, 1.4% in 2002, and again less than 1% in 2003. However,

       recent data signal that the recovery has started. The government

       estimates economic growth in 2004 of 1.7–2.1% and of 2.5% in 2005.

       The government is planning a EURO 500 billion income tax cut in

       2004, though some economists doubt it will have stimulative effects

       in 2004, because it will be offset by higher health insurance

       contributions and higher taxes on energy. For 2005, Austria plans a

       tax cut of EURO 2.5 billion and harmonization of the various pension

       schemes. To meet increased competition from both EU and Central

       European countries, particularly the new EU members, Austria will

       need to emphasize knowledge-based sectors of the economy, continue

       to deregulate the service sector, and lower its tax burden. A key

       issue is the encouragement of much greater participation in the

       labor market by its aging population.

      GDP:

       purchasing power parity - $245.3 billion (2003 est.)

      GDP - real growth rate:

       0.7% (2003 est.)

      GDP - per capita:

       purchasing power parity - $30,000 (2003 est.)

      GDP - composition by sector: agriculture: 3.5% industry: 25.7% services: 70.9% (2003 est.)

      Investment (gross fixed):

       22.5% of GDP (2003)

      Population below poverty line:

       3.9% (1999)

      Household income or consumption by percentage share: lowest 10%: 2.5% highest 10%: 22.5% (1995)

      Distribution of family income - Gini index:

       31 (1995)

      Inflation rate (consumer prices):

       1.4% (2003 est.)

      Labor force:

       3.425 million (2003)

      Labor force - by occupation:

       agriculture and forestry 4%, industry and crafts 29%, services 67%

       (2001 est.)

      Unemployment rate:

       4.4% (2003 est.)

      Budget:

       revenues: $67 billion

       expenditures: $70 billion, including capital expenditures of NA

       (2004 est.)

      Public debt:

       67.6% of GDP (2003)

      Agriculture - products:

       grains, potatoes, sugar beets, wine, fruit; dairy products, cattle,

       pigs, poultry; lumber

      Industries:

       construction, machinery, vehicles and parts, food, chemicals,

       lumber and wood processing, paper and paperboard, communications

       equipment, tourism

      Industrial production growth rate:

       1.9% (2003 est.)

      Electricity - production:

       58.75 billion kWh (2001)

      Electricity - consumption:

       54.85 billion kWh (2001)

      Electricity - exports:

       14.25 billion kWh (2001)

      Electricity - imports:

       14.47 billion kWh (2001)

      Oil - production:

       20,670 bbl/day (2001 est.)

      Oil - consumption:

       262,400 bbl/day (2001 est.)

      Oil - exports:

       35,470 bbl/day (2001)

      Oil - imports:

       262,000 bbl/day (2001)

      Oil - proved reserves:

       85.69 million bbl (1 January 2002)

      Natural gas - production:

       1.731 billion cu m (2001 est.)

      Natural gas - consumption:

       7.81 billion cu m (2001 est.)

      Natural gas - exports:

       403 million cu m (2001 est.)

      Natural gas - imports:

       6.033 billion cu m (2001 est.)

      Natural gas - proved reserves:

       24.9 billion cu m (1 January 2002)

      Current account balance:

       $-1.353 billion (2003)

      Exports:

       $83.45 billion f.o.b. (2003 est.)

      Exports - commodities:

      

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