, ESA, EU, FAO, G- 9, IADB, IAEA, IBRD, ICAO, ICC, ICFTU,
ICRM, IDA, IEA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Intelsat, Interpol,
IOC, IOM, ISO, ITU, MINURSO, MTCR, NAM (guest), NEA, NSG, OAS
(observer), OECD, OPCW, OSCE, PCA, PFP, UN, UNCTAD, UNDOF, UNESCO,
UNFICYP, UNHCR, UNIDO, UNIKOM, UNITAR, UNMIBH, UNMOT, UNOMIG, UNTSO,
UNU, UPU, WCL, WEU (observer), WFTU, WHO, WIPO, WMO, WToO, WTrO, ZC

Diplomatic representation in the US:
chief of mission: Ambassador Helmut TUERK
chancery: 3524 International Court NW, Washington, DC 20008-3035
consulate(s) general: Chicago, Los Angeles, and New York

Diplomatic representation from the US:
chief of mission: Ambassador Kathryn Walt HALL
embassy: Boltzmanngasse 16, A-1091, Vienna
mailing address: use embassy street address

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

Economy

Economy--overview: Austria has a well-developed market economy
with a high standard of living. As a member of the European Monetary
Union (EMU), Austria's economy is closely integrated with other EU
member countries, especially with Germany. Austria's membership in
the EU has drawn an influx of foreign investors attracted by
Austria's access to the single European market. Through
privatization efforts, the 1996-98 budget consolidation programs,
and austerity measures, Austria brought its total public sector
deficit down to 2.5% of GDP in 1997 and public debt--at 66% of GDP in
1997--more or less in line with the 60% of GDP required by the EU's
Maastricht criteria. Cuts mainly affect the civil service and
Austria's generous social system, the two major causes of the
government deficit. To meet increased competition from both EU and
Central European countries, Austria will need to emphasize
knowledge-based sectors of the economy and deregulate the service
sector, particularly telecommunications and energy. The strong GDP
growth of 1998 is expected to dwindle back to 2.3% in 1999, and
observers caution that this projection may be revised downwards in
view of the Asian and Brazilian crises and Germany's lower growth
projection.

GDP: purchasing power parity--$184.5 billion (1998 est.)

GDP--real growth rate: 2.9% (1998 est.)

GDP--per capita: purchasing power parity?$22,700 (1998 est.)

GDP--composition by sector:
agriculture: 1.4%
industry: 30.8%
services: 67.8% (1997 est.)

Population below p