40% of the land area is used for agriculture. 45% is claimed by the forest industry. The forest area grows yearly leading to increasing wood supplies to be utilized for industrial and energy production.
Economic data shows that Austria’s economy is relatively stable. Economic growth for 2013 is forecast at 0.6% (Source: Federal Ministry of Economy, Family and Youth). The 2013 exports amounted to 40,7% of the gross domestic product. Inflation forecasts for 201 estimate a 2% inflation.
According to the Eurostat report, the 2013 Austrian unemployment rate was 4.9%, while the EU average was 10,9%.
Roughly 65% of economic output is attributable to the services sector, about 30% for industry and 5% in tourism. Across Europe, Austria has the second highest rate of tourism per capita. In the country there are approximately 70,000 tourism based businesses.
With a GDP of € 33.656 per capita, the country is in accordance with an OECD study of 11 locations worldwide. About 500,000 people living in Austria rely directly or indirectly on tourism.
The companies structured as SMEs (small and medium enterprises) dominate the economy. Nearly 40% of businesses have fewer than 10 employees. Only 1.4% of industrial enterprises employ more than 1,000 employees. The major industries are the machinery and vehicle supply industry the chemical industry, and the electrical and electronics industry.
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