Vienna Stock Exchange
Generally speaking, the people of the Republic of Austria enjoy a very high standard of living. The economy is that of a social market economy and while the people of the country enjoy a lot of freedom, the Austrian government has played a large role in the lives of its people since 1945. The fact that Austria is rated as the fourth richest country in the European Union is an endorsement of its economy’s success, with the Vienna Stock Exchange playing an integral role. It had a GDP of $243.3 billion in 2004 and it is currently ranked as 34th in the world in terms of GDP. Currently the services industry contributes the most to the annual GDP. In 2004, the services sector was responsible for 70.9% while the industry sector contributed 25.7% and the agriculture sector only 3.5%.
Austria also enjoys good import and export relations with countries such as Germany, Italy, Switzerland, the US, France, Hungary, the Netherlands and the UK. Recent years have seen as much as $83.45 billion result from exports and $81.59 billion from imports. The country’s main industries are machinery, cars and car parts, food, raw and processed wood, paper, paperboard, construction, communications, equipment and tourism.