Country Report Austria

Country Report

  • Austria
  • Agriculture,
  • Automotive/Transport,
  • Chemicals/Pharma,
  • Construction,
  • Consumer Durables,
  • Electronics/ICT,
  • Financial Services,
  • Food,
  • Machines/Engineering,
  • Metals,
  • Paper,
  • Services,
  • Steel,
  • Textiles

1st June 2015

After modest growth in 2013 (up 0.3%) and 2014 (up 0.4%) the Austrian economy is expected to see a modest 0.8% surge in 2015.





















The insolvency environment

Corporate insolvencies decrease slowed down in 2014

Austrian business insolvencies decreased by more than 9% in 2013, however this positive trend slowed down in 2014, to just 0.7%. In 2015 it is expected that the number of business failures will decrease further, by 9% year-on-year.












Economic situation











Higher growth in 2015 expected

After modest growth in 2013 (up 0.3%) and 2014 (up 0.4%) the Austrian economy is expected to see a modest 0.8% surge in 2015. Private consumption is expected to increase only modestly, given that unemployment will remain at an (for Austrian standards) elevated level of 8.7% and real wages are still impacted by the general decrease seen in previous years.








The fiscal deficit increased by 3.0% in 2014, mainly due to large increases in capital transfers to banks in the course of the reorganization of Hypo Group Alpe Adria (the bank was nationalized in 2009 after overextending itself in Southeastern Europe). With these capital transfers decreasing after 2015, the budget balance is set to improve to -2.0% and -1.5% of GDP in 2015 and 2016, respectively. Government debt is expected to rise to 87.1% and to decrease thereafter.


The statements made herein are provided solely for general informational purposes and should not be relied upon for any purpose. Please refer to the actual policy or the relevant product or services agreement for the governing terms. Nothing herein should be construed to create any right, obligation, advice or responsibility on the part of Atradius, including any obligation to conduct due diligence of buyers or on your behalf. If Atradius does conduct due diligence on any buyer it is for its own underwriting purposes and not for the benefit of the insured or any other person. Additionally, in no event shall Atradius and its related, affiliated and subsidiary companies be liable for any direct, indirect, special, incidental, or consequential damages arising out of the use of the statements made information herein.