Gross Domestic Product Per Capita for Austria
PCAGDPATA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56,833.20
Year-over-Year Change
17.79%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross Domestic Product (GDP) per capita is a key measure of economic performance and living standards in Austria. It represents the total economic output divided by the population, providing insight into the overall prosperity of the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP per capita is a widely used metric that allows for international comparisons of economic development and living standards. It serves as an important indicator for policymakers, economists, and investors to assess the health and growth potential of the Austrian economy.
Methodology
The data is calculated by the World Bank using official national accounts and population statistics.
Historical Context
GDP per capita is a critical input for economic analysis, policy decisions, and market assessments.
Key Facts
- Austria's GDP per capita was $58,700 in 2021.
- GDP per capita has grown by over 50% in Austria since 2000.
- Austria ranks among the top 20 countries globally by GDP per capita.
FAQs
Q: What does this economic trend measure?
A: Gross Domestic Product (GDP) per capita measures the total economic output of Austria divided by its population, providing a metric for the country's overall prosperity and living standards.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a critical indicator for evaluating the health and growth potential of the Austrian economy, informing policy decisions and market assessments.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official national accounts and population statistics for Austria.
Q: How is this trend used in economic policy?
A: GDP per capita is a key input for policymakers, economists, and investors to assess economic performance and living standards in Austria, supporting decisions and analysis.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may be subject to revisions by the statistical agencies providing the underlying information.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Austria (PCAGDPATA646NWDB), retrieved from FRED.