IDEAS home Printed from https://ideas.repec.org/a/wfo/wquart/y1998i1p19-24.html
   My bibliography  Save this article

Reasons for Austria's Current Account Deficit

Author

Listed:
  • Ewald Walterskirchen

    (WIFO)

Abstract

In the course of the 1990s, Austria's balance on current account has steadily deteriorated. Beginning the decade in equilibrium, the current account posted a deficit of 1¾ percent of GDP in 1996 and 1997. The deterioration was mainly a result of the plunge in the surplus of travel services from 3½ percent of GDP in 1991 to ¾ percent of GDP in 1997. The relatively high deficit in the trade account showed only minor changes in the 1990s which could not offset the drastic deterioration in the tourism balance. Moreover, since 1995, the transfer balance has been weighed down by substantial net payments to the EU. In 1997, the growth in the current account deficit appears to have been arrested, a result primarily due to weak domestic demand and the trend reversal in foreign exchange rates. Yet, in an international comparison, the situation remains bleak: Austria places third to last among all EU countries, ranking just ahead of Portugal and Greece.

Suggested Citation

  • Ewald Walterskirchen, 1998. "Reasons for Austria's Current Account Deficit," Austrian Economic Quarterly, WIFO, vol. 3(1), pages 19-24, January.
    • Handle: RePEc:wfo:wquart:y:1998:i:1:p:19-24
    as

    Download full text from publisher

    File URL: https://www.wifo.ac.at/wwa/pubid/487
    File Function: abstract
    Download Restriction: Payment required
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wfo:wquart:y:1998:i:1:p:19-24. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Florian Mayr (email available below). General contact details of provider: https://edirc.repec.org/data/wifooat.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.