Austria is a highly developed industrialized country with an important service sector. The most important industries are food and luxury commodities, mechanical engineering and steel construction, chemicals, and vehicle manufacturing.

In the field of agriculture, Austria is witnessing a strong trend towards organic farming. With an overall share of 11.9%, organic farms in Austria occupy a leading position among the EU Member States. In this organic branch of agriculture, 88.1% of enterprises are dedicated to livestock farming.

As regards raw materials and energy production, Austria can draw on an abundance of resources. It has natural resources of iron ore, non-ferrous metals, important minerals and earths. The constant growth of the industrial sector, however, increasingly requires supplementary imports. This is also true of fuels, energy resources, and the electricity-generating industry. Austria has its own resources of petroleum and natural gas. The generation of hydroelectric power is constantly being expanded, which makes Austria the leader in the field of hydroelectric power in the European Union.

Austria is world-famous for its arts and crafts, most notably fine hand-crafted items, costumized jewellery, ceramics, and glassware.

Tourism is an essential pillar of the Austrian economy. Austria is a mountainous country with one of the largest natural land reserves in central Europe.

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