Austria is a highly developed industrialised country with an important service sector. The foremost industries are foodstuffs and luxury commodities, mechanical engineering and steel construction, chemicals and vehicle manufacturing. Within the vehicle sector, the production of engines and transmissions is the most important segment, accounting for an export quota in excess of 90%. Austria produces, for instance, some 800,000 engines per year for many major car manufacturers. In the electronic engineering field, the country has made a name for itself with the production of customised electronics products like microprocessors and integrated circuits (chips for airbags, ABS braking systems; components for Airbus airliners and for high-speed trains, etc.)
The primary sector (agriculture and forestry) accounts for only about 2% of Austria’s gross domestic product (GDP). The secondary sector (commodities manufacture, energy, mining) makes up about 31%, while the tertiary sector (services, banking, public services, commerce, transport, tourism) contributes the major share to Austria’s GDP with 67%.