Austria is a central European country where exports account for 60% of GDP. America is its second-biggest trading partner after Germany. The chancellor is Christian Stocker.
In September 2024 the hard-right Freedom Party (FPÖ) came first with 29% of the vote, the ÖVP second with 26% and the Social Democrats (SPÖ) third with 21%. After a failed attempt by ÖVP chancellor Karl Nehammer to form a coalition with the SPÖ and the liberal NEOS, and a subsequent collapse of coalition talks between the ÖVP and FPÖ over disagreements on Europe policy, Stocker assembled the first three-way coalition in Austria's history with the SPÖ and NEOS. Andreas Babler of the SPÖ is deputy chancellor; Beate Meinl-Reisinger of NEOS is foreign minister.
Along with Wiener schnitzel and psychoanalysis, the Viennese waltz is one of Austria's most prized cultural exports. In 2017 UNESCO added it to Austria's list of intangible cultural heritage. Vienna hosts more than 400 balls each year; the Vienna Opera Ball is considered the most prestigious, with standard admission costing more than €400. The Vienna Philharmonic performs Strauss waltzes every New Year's Day; tickets for the concert, allocated by lottery, can cost up to €1,200. Johann Strauss II, the "Waltz King", was born in 1825 and wrote more than 150 waltzes; his "The Blue Danube" remains one of the most recognisable tunes in the world.
The budget deficit in 2024 came to 4.7% of GDP; 2025's is forecast at 4.5% even after planned spending cuts of €15bn. In July 2025 the European Commission subjected Austria to its excessive-deficit procedure. Austria's inflation rate stood at 3.3% in June 2025; groceries are substantially more expensive than in neighbouring Germany.
One nice thing about egotists: they don't talk about other people.