Despite reporting a trade deficit and a budget deficit for the past years, Austria can be considered a wealthy country. Except for a slump due to the Eurozone Crisis, GDP per capita in Austria has been increasing rapidly and is estimated to increase even further until 2022. Austria is among the nations with the largest gross domestic product per capita worldwide. While Austria’s GDP is forecast to increase significantly after a corresponding slump in 2015 and 2016, its unemployment rate is still one of the lowest in the European Union, considerably below the European average of 7.3 percent. It is currently fluctuating between 5 and 6 percent, but predicted to remain steady over the next few years. With these stable and robust economic indicators, Austria is one of the more successful economies in the European Union.
Despite reporting a trade deficit and a budget deficit for the past years, Austria can be considered a wealthy country. Except for a slump due to the Eurozone Crisis, GDP per capita in Austria has been increasing rapidly and is estimated to increase even further until 2022. Austria is among the nations with the largest gross domestic product per capita worldwide. While Austria’s GDP is forecast to increase significantly after a corresponding slump in 2015 and 2016, its unemployment rate is still one of the lowest in the European Union, considerably below the European average of 7.3 percent. It is currently fluctuating between 5 and 6 percent, but predicted to remain steady over the next few years. With these stable and robust economic indicators, Austria is one of the more successful economies in the European Union.
