INTRODUCTION:
Once the center of power for the large Austro-Hungarian Empire, Austria was reduced to a small republic after its defeat in World War I. Following annexation by Nazi Germany in 1938 and subsequent occupation by the victorious Allies in 1945, Austria's status remained unclear for a decade. A State Treaty signed in 1955 ended the occupation, recognized Austria's independence, and forbade unification with Germany. A constitutional law that same year declared the country's "perpetual neutrality" as a condition for Soviet military withdrawal. The Soviet Union's collapse in 1991 and Austria's entry into the European Union in 1995 have altered the meaning of this neutrality. A prosperous, democratic country, Austria entered the EU Economic and Monetary Union in 1999.
AREA:
total: 83,871 sq km
country comparison to the world: 113
land: 82,445 sq km
water: 1,426 sq km
PEOPLE:
POPULATION:
8,217,280 (July 2011 est.)
country comparison to the world: 92
MAJOR CITIES:
VIENNA (capital) 1.693 million (2009)
RELIGION:
Roman Catholic 73.6%, Protestant 4.7%, Muslim 4.2%, other 3.5%, unspecified 2%, none 12% (2001 census)
LANGUAGES:
German (official nationwide) 88.6%, Turkish 2.3%, Serbian 2.2%, Croatian (official in Burgenland) 1.6%, other (includes Slovene, official in Carinthia, and Hungarian, official in Burgenland) 5.3% (2001 census)
GOVERNMENT:
COUNTRY NAME:
conventional long form: Republic of Austria
conventional short form: Austria
local long form: Republik Oesterreich
local short form: Oesterreich.
CAPITAL:
name: Vienna
geographic coordinates: 48 12 N, 16 22 E
time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October.
INDEPENDENCE:
12 November 1918 (republic proclaimed); notable earlier dates: 976 (Margravate of Austria established); 17 September 1156 (Duchy of Austria founded); 11 August 1804 (Austrian Empire proclaimed).
GOVERNMENT TYPE:
federal republic.
FLAG DESCRIPTION:
three equal horizontal bands of red (top), white, and red; the flag design is certainly one of the oldest - if not the oldest - national banners in the world; according to tradition, in 1191, following a fierce battle in the Third Crusade, Duke Leopold V of Austria's white tunic became completely blood-spattered; upon removal of his wide belt or sash, a white band was revealed; the red-white-red color combination was subsequently adopted as his banner.
ECONOMY:
Austria, with its well-developed market economy and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. Following several years of solid foreign demand for Austrian exports and record employment growth, the international financial crisis and global economic downturn in 2008 led to a sharp but brief recession. Austrian GDP contracted 3.9% in 2009 but saw positive growth of about 2% in 2010. Unemployment has not risen as steeply in Austria as elsewhere in Europe, partly because its government has subsidized reduced working hour schemes to allow companies to retain employees. Stabilization measures, stimulus spending, and an income tax reform pushed the budget deficit to 3.5% of GDP in 2009 and 4.7% in 2010, from only about 1.3% in 2008.
The international financial crisis caused difficulties for Austria's largest banks whose extensive operations in central, eastern, and southeastern Europe faced large losses. The government provided bank support - including in some instances, nationalization - to prevent insolvency and possible contagion. In the medium-term all large Austrian banks will need additional capital. Even after the global economic outlook improves, Austria will need to continue restructuring, emphasize knowledge-based sectors of the economy, and encourage greater labor flexibility and labor participation to offset growing unemployment and Austria's aging population and low fertility rate.
Once the center of power for the large Austro-Hungarian Empire, Austria was reduced to a small republic after its defeat in World War I. Following annexation by Nazi Germany in 1938 and subsequent occupation by the victorious Allies in 1945, Austria's status remained unclear for a decade. A State Treaty signed in 1955 ended the occupation, recognized Austria's independence, and forbade unification with Germany. A constitutional law that same year declared the country's "perpetual neutrality" as a condition for Soviet military withdrawal. The Soviet Union's collapse in 1991 and Austria's entry into the European Union in 1995 have altered the meaning of this neutrality. A prosperous, democratic country, Austria entered the EU Economic and Monetary Union in 1999.
AREA:
total: 83,871 sq km
country comparison to the world: 113
land: 82,445 sq km
water: 1,426 sq km
PEOPLE:
POPULATION:
8,217,280 (July 2011 est.)
country comparison to the world: 92
MAJOR CITIES:
VIENNA (capital) 1.693 million (2009)
RELIGION:
Roman Catholic 73.6%, Protestant 4.7%, Muslim 4.2%, other 3.5%, unspecified 2%, none 12% (2001 census)
LANGUAGES:
German (official nationwide) 88.6%, Turkish 2.3%, Serbian 2.2%, Croatian (official in Burgenland) 1.6%, other (includes Slovene, official in Carinthia, and Hungarian, official in Burgenland) 5.3% (2001 census)
GOVERNMENT:
COUNTRY NAME:
conventional long form: Republic of Austria
conventional short form: Austria
local long form: Republik Oesterreich
local short form: Oesterreich.
CAPITAL:
name: Vienna
geographic coordinates: 48 12 N, 16 22 E
time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October.
INDEPENDENCE:
12 November 1918 (republic proclaimed); notable earlier dates: 976 (Margravate of Austria established); 17 September 1156 (Duchy of Austria founded); 11 August 1804 (Austrian Empire proclaimed).
GOVERNMENT TYPE:
federal republic.
FLAG DESCRIPTION:
three equal horizontal bands of red (top), white, and red; the flag design is certainly one of the oldest - if not the oldest - national banners in the world; according to tradition, in 1191, following a fierce battle in the Third Crusade, Duke Leopold V of Austria's white tunic became completely blood-spattered; upon removal of his wide belt or sash, a white band was revealed; the red-white-red color combination was subsequently adopted as his banner.
ECONOMY:
Austria, with its well-developed market economy and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. Following several years of solid foreign demand for Austrian exports and record employment growth, the international financial crisis and global economic downturn in 2008 led to a sharp but brief recession. Austrian GDP contracted 3.9% in 2009 but saw positive growth of about 2% in 2010. Unemployment has not risen as steeply in Austria as elsewhere in Europe, partly because its government has subsidized reduced working hour schemes to allow companies to retain employees. Stabilization measures, stimulus spending, and an income tax reform pushed the budget deficit to 3.5% of GDP in 2009 and 4.7% in 2010, from only about 1.3% in 2008.
The international financial crisis caused difficulties for Austria's largest banks whose extensive operations in central, eastern, and southeastern Europe faced large losses. The government provided bank support - including in some instances, nationalization - to prevent insolvency and possible contagion. In the medium-term all large Austrian banks will need additional capital. Even after the global economic outlook improves, Austria will need to continue restructuring, emphasize knowledge-based sectors of the economy, and encourage greater labor flexibility and labor participation to offset growing unemployment and Austria's aging population and low fertility rate.