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  Economy

Overview: Austria boasts a prosperous and stable capitalist economy with a sizable proportion of nationalized industry and extensive welfare benefits. Thanks to an excellent raw material endowment, a technically skilled labor force, and strong links with West German industrial firms, Austria has successfully occupied specialized niches in European industry and services (tourism, banking) and produces almost enough food to feed itself with only 8% of the labor force in agriculture. Living standards are roughly comparable with the large industrial countries of Western Europe. Problems for the 1990s include an aging population and the struggle to keep welfare benefits within budget capabilities.

GDP: $103.2 billion, per capita $13,600; real growth rate 4.2% (1989 est.)

Inflation rate (consumer prices): 2.7% (1989)

Unemployment: 4.8% (1989)

Budget: revenues $34.2 billion; expenditures $39.5 billion, including capital expenditures of NA (1988)

Exports: $31.2 billion (f.o.b., 1989); commodities—machinery and equipment, iron and steel, lumber, textiles, paper products, chemicals; partners—FRG 35%, Italy 10%, Eastern Europe 9%, Switzerland 7%, US 4%, OPEC 3%

Imports: $37.9 billion (c.i.f., 1989); commodities—petroleum, foodstuffs, machinery and equipment, vehicles, chemicals, textiles and clothing, pharmaceuticals; partners—FRG 44%, Italy 9%, Eastern Europe 6%, Switzerland 5%, US 4%, USSR 2%

External debt: $12.4 billion (December 1987)

Industrial production: growth rate 5.8% (1989 est.)

Electricity: 17,562,000 kW capacity; 49,290 million kWh produced, 6,500 kWh per capita (1989)

Industries: foods, iron and steel, machines, textiles, chemicals, electrical, paper and pulp, tourism, mining

Agriculture: accounts for 4% of GDP (including forestry); principal crops and animals grains, fruit, potatoes, sugar beets, sawn wood, cattle, pigs poultry; 80-90% self-sufficient in food

Aid: donor—ODA and OOF commitments (1970-87), $1.7 billion

Currency: Austrian schilling (plural—schillings); 1 Austrian schilling (S) = 100 groschen

Exchange rates: Austrian schillings (S) per US$1—11.907 (January 1990), 13.231 (1989), 12.348(1988), 12.643(1987), 15.267(1986), 20.690(1985)

Fiscal year: calendar year

Communications

Railroads: 6,028 km total; 5,388 km government owned and 640 km privately owned (1.435- and 1.000-meter gauge); 5,403 km 1.435-meter standard gauge of which 3,051 km is electrified and 1,520 km is double tracked; 363 km 0.760-meter narrow gauge of which 91 km is electrified

Highways: 95,412 km total; 34,612 are the primary network (including 1,012 km of autobahn, 10,400 km of federal, and 23,200 km of provincial roads); of this number, 21,812 km are paved and 12,800 km are unpaved; in addition, there are 60,800 km of communal roads (mostly gravel, crushed stone, earth)

Inland waterways: 446 km

Ports: Vienna, Linz (river ports)

Merchant marine: 29 ships (1,000 GRT or over) totaling 209,311 GRT/366,401 DWT; includes 23 cargo, 1 container, 5 bulk

Pipelines: 554 km crude oil; 2,611 km natural gas; 171 km refined products Civil air: 25 major transport aircraft Airports: 55 total, 54 usable; 19 with permanent-surface runways; none with runways over 3,659 m; 5 with runways 2,440-3,659 m; 4 with runways 1,220-2,439 m

Telecommunications: highly developed and efficient; 4,014,000 telephones; extensive TV and radiobroadcast systems; stations—6 AM, 21 (544 repeaters) FM, 47 (867 repeaters) TV; satellite stations operating in INTELSAT 1 Atlantic Ocean earth station and 1 Indian Ocean earth station and EUTELSAT systems

Defense Forces

Branches: Army, Flying Division

Military manpower: males 15-49, 1,970,189; 1,656,228 fit for military service; 50,090 reach military age (19) annually

Defense expenditures: 1.1% of GDP, or $1.1 billion (1989 est.)  The Bahamas



Geography

Total area: 13,940 km²; land area: 10,070 km²

Comparative area: slightly larger than Connecticut

Land boundaries: none

Coastline: 3,542 km

Maritime claims:
 * Continental shelf: 200 meters or to depth of exploitation
 * Exclusive fishing zone: 200 nm
 * Territorial sea: 3 nm

Climate: tropical marine; moderated by warm waters of Gulf Stream

Terrain: long, flat coral formations with some low rounded hills

Natural resources: salt, aragonite, timber

Land use: 1% arable land; NEGL% permanent crops; NEGL% meadows and pastures; 32% forest and woodland; 67% other

Environment: subject to hurricanes and other tropical storms that cause extensive flood damage

Note: strategic location adjacent to US and Cuba; extensive island chain

People

Population: 246,491 (July 1990), growth rate 1.2% (1990)

Birth rate: 17 births/1,000 population (1990)

Death rate: 6 deaths/1,000 population (1990)

Net migration rate: 0 migrants/1,000 population (1990)

Infant mortality rate: 21 deaths/1,000 live births (1990)

Life expectancy at birth: 68 years male, 75 years female (1990)

Total fertility rate: 1.9 children born/woman (1990)

Nationality: noun—Bahamian(s); adjective—Bahamian

Ethnic divisions: 85% black, 15% white  21