Austria GDP Growth Rate

Last Release

Dec 31, 2024

Actual

-0.4

Units In

0.3

Frequency

Quarterly

Next Release

Jun 02, 2025

Time to Release

1 Months 1 Days 16 Hours

Highest	Lowest	Average	Date Range	Source
10.9 Sep 2020	-11.4 Jun 2020	0.41 %	1995-2024	Oesterreichische Nationalbank

Austria's economy features a large service sector (63 percent of total GDP), a solid industrial sector (25 percent), and a small, but highly developed agricultural sector (1 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 54 percent, followed by gross fixed capital formation (22 percent) and government expenditure (20 percent). Net exports of goods and services adds 3 percent to the GDP as exports accounts for 53 percent and imports for 50 percent. .

Latest Updates

The Austrian gross domestic product rose by 0.2% quarter-on-quarter in the three months ending March 2025, marking a slight recovery after a 0.4% contraction in the previous quarter, according to preliminary estimates. This was the first quarterly expansion following roughly two and a half years of stagnation or decline, supported by household consumption (+0.1%) and government spending (+0.4%). A slight decrease in fixed investment (–0.1%) was offset by robust foreign trade, as exports (+1.4%) outpaced import growth (+1.1%). On the production side, industry likely grew for the first time in seven quarters (+0.6%), while construction remained weak (–0.2%). Services also performed poorly, with trade, transport, and hospitality declining by 0.4%, while other business services grew by 0.5%. On a yearly basis, the GDP fell by 0.7% in Q1, following a revised 0.9% decline in the preceding period, thus extending the period of contraction to eight consecutive quarters.