PRESS RELEASE: 9.718-160/10

Vienna, 2010-07-16 – According to estimates by Statistics Austria the Austrian economy decreased by 3.9% in 2009. This means the most significant drawback in economic growth since World War II. The background of a demanding international environment is also reflected by the economic development of other EU and OECD countries. The average decrease for the EU countries was -4.2%, the Euro Zone (Euro-16) faced a decline of the economy by -4.1% (Source: Eurostat Databank, July 2010). Gross Domestic Product (GDP) of the OECD countries dropped by -3.3% on average (Source: OECD, Main Economic Indicators, June 2010). The decrease for Austria’s most important trade partners Germany (-4.9% in real terms) and Italy (-5.0% in real terms) was even worse.

GDP at current prices decreased by 8.8 bn euro, or -3.1%, to approximately 274.3 bn euro in 2009. Hence, GDP per inhabitant amounted to 32 800 euro (-3.4%).

As regards the output approach by industry, manufacturing experienced the most conspicuous setback (-14.3% in real terms). Manufacturing is predominantly export oriented and, thus, it strongly depends on the international economic environment. Transport and communication services, which decreased by -9.1% in real terms, did also experience a significant downturn in 2009. Both cargo and passenger transport were strongly affected by the economic turmoil. Positive growth rates in real terms were only observed for energy and water supply as well as for financial intermediation, both activities increasing by +5.8% in real terms. Industry in total (including mining, energy and construction) declined by -10.5% in real terms. The service sector declined by -1.6% and, thus, was hit less severely by the international crisis.

The decline in manufacturing was reflected in a dramatic slump in the export of goods and services, which fell by -17.3% at current prices and -16.1% in real terms, respectively. Domestic demand, on the other hand, showed a significant decrease of gross capital formation by -12.7%. Gross fixed capital formation decreased by -8.8% in real terms. Demand for both transport equipment (-19.2% in real terms) and machinery (-12.9% in real terms) shrunk significantly. Final household consumption expenditure rose by +0.6% at current prices and +1.5% in real terms, respectively. The increase in government final consumption expenditure was +3.5% at current prices and +0.4% in real terms, respectively.

Net national disposable income declined by -4.1% to 224.3 bn Euro. Compensation of employees (i.e. the total remuneration, in cash or in kind, payable by an employer to an employee) increased by +0.9%, whereas operating surplus and mixed income decreased significantly by -8.6%.

The implicit price index of GDP (derived from the GDP at current prices and at constant prices respectively, based on previous year’s prices) was 100.8. Hence, the overall price development was somewhat stronger than the change of the consumer prices index (+0.5%).

For more detailed results and further information concerning statistics of motor vehicles please refer to our Website.

For further inquiries please contact Directorate Macro-economic Statistics, Statistics Austria:  
Ursula HAVEL, Tel.: +43 (1) 71128-7648 resp. ursula.havel@statistik.gv.at

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