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Introduction This paper gives the reader information about the country Austria Austria is a small country in the central of Europe and it is famous for its mountains scenery The Alps and their foothills stretch across several sights of the country and make it look beautiful This kind of landscape you will not find in a small country like the Netherlands The Netherlands has a flat landscape and it is really not comparative to Austria These two countries do have similar kind of economies which is comparable to each other In this paper one will get information about the economy of Austria in a detailed way In some of the things it will be compared to the Netherlands so one will be able to recognize Austria with a different point of view The focus will be on the economical situation as a whole there will be a short history of the economy in Austria This will give sort of an idea what kind of economical background Austria belongs After the short history one will get a detailed description about some aspect of the economy of Austria such as the sectors in which it is divided These elements are important when one will have to study the economy of a country A short conclusion about the whole economical situation will be mentioned later A short history of Austria Before the World Wars the country was the center of power for the large Austro-Hungarian Empire Austria was reduced to a very small republic after it was defeated in World War I For about a decade long the status of the country remained unclear But short after a State Treaty was signed Austria became independent and neutral In 1995 Austria entered the European Union and some years later it got also entered in the European Monetary Union Membership with the European Union brought economic benefits for the country like access in the European market The import
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