The Austrian economy suffered because of the global financial crisis in 2009. The growth of the economy slowed significantly. After facing tough times, the economy began to grow in 2011 and achieved a considerable growth because of economic reforms, currency appreciation, and huge inflow of foreign direct investment. Now, the economy is expected to reach $427.1 billion by 2018.

Lucintel, a leading global management consulting and market research firm, has conducted a study on Austrian economy. It presented its findings in Austria Country Analysis: 2013-2018 An Evaluation of Political, Social, Economic, and Business Risk.

The study offered an overview of the political, economical, social, technological, and business risk associated with the country. Also, it included the forecast of GDP for the next five years.

The study discussed many challenges faced by Austria over last decade. The nation is forecast to grow at approximately 0.2% real GDP growth rate in 2013. Austria has come across a high sovereign debt situation. The external debt of the country is more than 50% of the GDP.

If that debt continues to increase, Austria is highly likely to face a crisis that will have a longer impact on the economy of the country.
The service and manufacturing sectors are the main contributors to Austria’s GDP and they can attribute to slow down in economy in 2013.