According to the International Monetary Fund (IMF), real GDP of Austria is forecast to grow by 3.0 percent in 2023 and 2.3 percent in 2024.
1) Real GDP growth rate: 2010 – 1.8 percent, 2011 – 2.9 percent, 2012 – 0.7 percent, 2013 – 0.0 percent, 2014 – 0.7 percent, 2015 – 1.0 percent, 2016 – 2.0 percent, 2017 – 2.3 percent, 2018 – 2.5 percent, 2019 – 1.5 percent, 2020 – -6.7 percent, 2021 – 4.5 percent and 2022 – 2.6 percent.
Gross domestic product is the market value of all goods and services made in a country in a year. Annual percentages of constant price GDP are year-on-year changes. Expenditure-based GDP is total final expenditures at purchasers’ prices (including the f.o.b. value of exports of goods and services), less the f.o.b. value of imports of goods and services.
2) Projected real GDP growth rate: 2023 – 3.0 percent, 2024 – 2.3 percent, 2025 – 1.9 percent, 2026 – 1.8 percent and 2027 – 1.8 percent.
3) Nominal GDP in current prices, billions of Euro (code: EUR; sign: €): 2010 – €295.897 billion, 2011 – €310.129 billion, 2012 – €318.653 billion, 2013 – €323.910 billion, 2014 – €333.146 billion, 2015 – €344.269 billion, 2016 – €357.608 billion, 2017 – €369.362 billion, 2018 – €385.424 billion, 2019 – €397.519 billion, 2020 – €379.321 billion, 2021 – €403.370 billion and 2022 – €430.531 billion.
4) Projected nominal GDP in current prices, billions of Euro: 2023 – €458.979 billion, 2024 – €480.493 billion, 2025 – €499.853 billion, 2026 – €520.021 billion and 2027 – €539.497 billion.
5) Nominal GDP in current prices, billions of U.S. dollars: 2010 – $392.595 billion, 2011 – $431.609 billion, 2012 – $409.661 billion, 2013 – $430.197 billion, 2014 – $442.699 billion, 2015 – $382.010 billion, 2016 – $395.728 billion, 2017 – $417.114 billion, 2018 – $455.374 billion, 2019 – $445.061 billion, 2020 – $432.912 billion, 2021 – $477.400 billion and 2022 – $479.815 billion.
Values are based upon GDP in national currency converted to U.S. dollars using market exchange rates (yearly average).
6) Projected nominal GDP in current prices, billions of U.S. dollars: 2023 – $518.808 billion, 2024 – $550.551 billion, 2025 – $578.061 billion, 2026 – $605.395 billion and 2027 – $630.527 billion.
7) GDP PPP (Purchasing power parity) in current prices, billions of international dollars: 2010 – $355.061 billion, 2011 – $373.031 billion, 2012 – $391.635 billion, 2013 – $406.370 billion, 2014 – $417.060 billion, 2015 – $431.092 billion, 2016 – $460.236 billion, 2017 – $479.460 billion, 2018 – $503.194 billion, 2019 – $519.834 billion, 2020 – $490.668 billion, 2021 – $533.976 billion and 2022 – $582.127 billion.
GDP PPP = gross domestic product based on purchasing power parity, international dollars. Average consumer price level in the US = 100%.
GDP PPP takes into account differences in the cost of living in different countries. Purchasing power parity means how much money would be needed to buy the same item basket in two different countries. Using a PPP basis is arguably more useful when comparing generalized differences in living standards between nations because PPP takes into account the relative cost of living and the inflation rates of the countries, rather than using only exchange rates, which may distort the real differences in income.
8) Projected GDP PPP in current prices, billions of international dollars: 2023 – $617.591 billion, 2024 – $647.348 billion, 2025 – $673.170 billion, 2026 – $698.769 billion and 2027 – $725.323 billion.
9) Nominal GDP per capita in current prices, U.S. dollars: 2010 – $46,955.2, 2011 – $51,452.3, 2012 – $48,616.9, 2013 – $50,747.4, 2014 – $51,814.4, 2015 – $44,267.8, 2016 – $45,278.8, 2017 – $47,320.5, 2018 – $51,254.4, 2019 – $50,239.4, 2020 – $48,636.3, 2021 – $53,367.5 and 2022 – $53,370.7.
GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.
10) Projected nominal GDP per capita in current prices, U.S. dollars: 2023 – $57,420.9, 2024 – $60,630.9, 2025 – $63,343.8, 2026 – $66,009.1 and 2027 – $68,407.3.
11) GDP PPP per capita in current prices, international dollars: 2010 – $42,466.0, 2011 – $44,469.2, 2012 – $46,477.7, 2013 – $47,936.7, 2014 – $48,813.5, 2015 – $49,955.5, 2016 – $52,659.8, 2017 – $54,393.6, 2018 – $56,636.7, 2019 – $58,679.9, 2020 – $55,125.0, 2021 – $59,692.1 and 2022 – $64,751.1.
Expressed in GDP in PPP dollars per person. Data are derived by dividing GDP in PPP dollars by total population.
12) Projected GDP PPP per capita in current prices, international dollars: 2023 – $68,354.0, 2024 – $71,291.0, 2025 – $73,765.9, 2026 – $76,190.1 and 2027 – $78,691.9.
13) GDP based on purchasing-power-parity (PPP) share of world total, percent: 2010 – 0.4 percent, 2011 – 0.4 percent, 2012 – 0.4 percent, 2013 – 0.4 percent, 2014 – 0.4 percent, 2015 – 0.4 percent, 2016 – 0.4 percent, 2017 – 0.4 percent, 2018 – 0.4 percent, 2019 – 0.4 percent, 2020 – 0.4 percent, 2021 – 0.4 percent and 2022 – 0.4 percent.
Expressed in percent of world GDP in PPP dollars.
14) Projected GDP based on purchasing-power-parity (PPP) share of world total, percent: 2023 – 0.4 percent, 2024 – 0.4 percent, 2025 – 0.4 percent, 2026 – 0.3 percent and 2027 – 0.3 percent.
15) Deflator of Gross domestic product (index to the previous year), percent: 2010 – 100.9 percent, 2011 – 101.8 percent, 2012 – 102.1 percent, 2013 – 101.6 percent, 2014 – 102.2 percent, 2015 – 102.3 percent, 2016 – 101.8 percent, 2017 – 101.0 percent, 2018 – 101.8 percent, 2019 – 101.6 percent, 2020 – 102.3 percent, 2021 – 101.8 percent and 2022 – 104.0 percent.
The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation.
16) Projected deflator of Gross domestic product (index to the previous year), percent: 2023 – 103.5 percent, 2024 – 102.3 percent, 2025 – 102.1 percent, 2026 – 102.2 percent and 2027 – 101.9 percent.
17) Output gap in percent of potential GDP, percent of potential GDP: 2010 – -0.7 percent, 2011 – 1.1 percent, 2012 – 0.7 percent, 2013 – -0.3 percent, 2014 – -1.0 percent, 2015 – -0.9 percent, 2016 – -0.5 percent, 2017 – 0.2 percent, 2018 – 1.0 percent, 2019 – 0.8 percent, 2020 – -2.1 percent, 2021 – -1.4 percent and 2022 – -1.7 percent.
The output gap is actual minus potential output, as a percentage of potential output. Estimates of the output gap are subject to significant margins of uncertainty.
18) Projected output gap in percent of potential GDP, percent of potential GDP: 2023 – -0.5 percent.
19) Ratio of the average price level in Austria to the average price level in the United States, percent: 2010 – 110.6 percent, 2011 – 115.7 percent, 2012 – 104.6 percent, 2013 – 105.9 percent, 2014 – 106.1 percent, 2015 – 88.6 percent, 2016 – 86.0 percent, 2017 – 87.0 percent, 2018 – 90.5 percent, 2019 – 85.6 percent, 2020 – 88.2 percent, 2021 – 89.4 percent and 2022 – 82.4 percent.
20) Projected ratio of the average price level in Austria to the average price level in the United States, percent: 2023 – 84.0 percent, 2024 – 85.0 percent, 2025 – 85.9 percent, 2026 – 86.6 percent and 2027 – 86.9 percent.
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Tags: English, GDP, GDP PPP, projected GDP, IMF
Source: BusinessForecast.by