IOC, IOM, ISO, ITU, MINURSO, MTCR, NAM
(guest), NEA, NSG, OAS (observer), OECD, ONUSAL, OSCE, PCA, UN,
UNAMIR, UNCTAD, UNDOF, UNESCO, UNFICYP, UNHCR, UNIDO, UNIKOM, UNMIH,
UNOMIL, UNOMOZ, UNTSO, UPU, WCL, WFTU, WHO, WIPO, WMO, WTO, ZC

Diplomatic representation in US:
chief of mission: Ambassador Helmut TUERK
chancery: 3524 International Court NW, Washington, DC 20008-3035
telephone: [1] (202) 895-6700
FAX: [1] (202) 895-6750
consulate(s) general: Chicago, Los Angeles, and New York

US diplomatic representation:
chief of mission: Ambassador Swanee G. HUNT
chancery: Boltzmanngasse 16, A-1091, Vienna
mailing address: use embassy street address
telephone: [43] (1) 313-39
FAX: [43] (1) 310-0682
consulate(s) general: none (Salzburg closed September 1993)

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

@Austria:Economy

Overview: Austria boasts a prosperous and stable market economy with a
sizable but falling proportion of nationalized industry and with
extensive welfare benefits. Thanks to its raw material endowment, a
technically skilled labor force, and strong links to German industrial
firms, Austria occupies specialized niches in European industry and
services (tourism, banking) and produces almost enough food to feed
itself with only 8% of the labor force in agriculture. After 11
consecutive years of growth, the Austrian economy experienced a mild
recession in 1993, but growth resumed in 1994. Unemployment is 4.3%
and will likely stay at that level as companies adjust to the
competition of EU membership beginning 1 January 1995. To prepare for
EU membership, Austria's government has taken measures to open the
economy by introducing a major tax reform, privatizing state-owned
firms, and liberalizing cross-border capital movements. Problems for
the 1990s include an aging population, the high level of industrial
subsidies, and the struggle to keep welfare benefits within budgetary
capabilities - the deficit climbed to over 4% of GDP in 1994.

National product: GDP - purchasing power parity - $139.3 billion (1994
est.)

National product real growth rate: 2.5% (1994 est.)

National product per capita: $17,500 (1994 est.)

Inflation rate (consumer prices): 3% (1994)

Unemployment rate: 4.3% (1994 est.)

Budget:
revenues: $52.2 billion
expenditures: $60.3 billion, including capital expenditures of $NA
(1993 est.)

Exports: $44.1 billion (1994 e