Solid Growth in 2012 Ahead

BusinessEconomy ♦ Published: August 16, 2012; 19:51 ♦ (Vindobona)

2011 was a record year for exports – and the first quarter of 2012 has seen the Austrian economy growing yet again. Thus, Austria is significantly below the performance of the Eurozone.

Solid Growth in 2012 Ahead / Picture: © Wikimedia Commons [CC0 1.0] / Pixabay [CC0 Creative Commons]

Austria’s economy grew in real terms by 2.7% in 2011. Despite a difficult international backdrop this was the second year in a row with a significant increase (2010: +2.1%). This means that average growth in both the EU (+1.5%) and the eurozone (+1.5%) was below that of Austria. Gross domestic product (GDP) amounted to around € 301bn last year (+5.0%), equivalent to € 35,710 per…