At a level of 117.7, productivity in Austria is considerably higher than the EU average. Accordingly, Austria outperforms large industrial nations such as Germany, France and Italy.
Labour productivity per hour rose by close to 25 percent in the period 2000 to 2019, whereas it only climbed by less than 20 percent in Germany and stagnated in Italy. At the same time, the real gross domestic product in Austria was up one-third, thus also significantly above the EU average and growth in Germany. Italy also stagnated in this regard for the most part, as shown by the latest figures in the report about labour and unit labour costs compiled by the Institute for Macroeconomics and Economic Research (IMK).
Read more about Austria as a business location and its competitive advantages.