Solid recovery backed by strong domestic fundamentals

AA1

LOW RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in February 2022.

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GDP USD 429.0bn (World ranking 25, World Bank 2020)
Population 8.9mn (World ranking 97, World Bank 2020)
Form of state Parliamentary republic
Head of government Karl Nehammer  (Chancellor)
Next elections 2022, legislative
  • Competitive high-income economy
  • Good budgetary position
  • Low external imbalances
  • Banking sector weaknesses
  • High export-dependence
  • Elevated public debt level
  • Unfavorable demographics

Trade structure by destination/origin

(% of total, annual 2020)

Exports Rank Imports
Germany 29.8%
1
40.8% Germany
United States 6.1%
2
6.0% Italy
Italy 6.1%
3
5.5% Switzerland
Switzerland 5.4%
4
4.4% Netherlands
France 4.2%
5
4.3% Czech Republic

Trade structure by product

(% of total, annual 2020)

Exports Rank Imports
Road Vehicles 9.3%
1
10.1% Road Vehicles
Medicinal and pharmaceutical products 7.8%
2
7.1% Electrical machinery, apparatus and appliances, n.e.s.
Electrical machinery, apparatus and appliances, n.e.s. 7.3%
3
6.4% Medicinal and pharmaceutical products
Other industrial machinery and parts 6.0%
4
5.4% Other industrial machinery and parts
Specialised machinery 5.7%
5
4.6% Miscellaneous manufactured articles, n.e.s.
The payment behaviour of domestic companies is good and the EU legal framework provides reliable tools when it comes to late payment issues.

  • Low

  • Medium

  • Sensitive

  • High

  • Payments

  • Court proceedings

  • Insolvency proceedings

  • Payments

  • Court proceedings

  • Insolvency proceedings

The court system is efficient and reliable overall, but pre-legal action conducted by specialists remains the most effective method of collecting debt.

Austrian insolvency law aims to rescue companies in order to increase the chances of recovering debts. It establishes a legal requirement for reorganization plans to provide a minimum quota of 20% in 2 years. However, it is rare for unsecured creditors to recover significantly where reorganization fails or bankruptcy proceedings are started from the beginning.

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