Central Europe contains the nation of Austria. Since its nominal gross domestic product was predicted to be $416.6 billion in 2017, when it ranked as the 27th highest in the world, Austria is regarded as one of the richest countries in the world.
Austria’s per capita GDP was about $47.291 in the same year, making it the 15th wealthiest country at the time. Austria’s economic success can be due to a number of things, chief among which is the effective use of its natural resources, which include minerals, stunning landscapes, and fertile land.
The natural resources in Austria for economical use are quite important. Natural magnesite, a magnesium carbonate that is widely utilized in the chemical industry, is produced in large quantities in Austria. The primary location for its manufacture is Kärnten.
Other significant mineral resources include antimony, lignite, lead, zinc, anhydrous gypsum, lignite, and iron. Opencut mining is used to extract iron ore from Eisenberg (in Steiermark), which is then processed in cities like Linz and Leoben.
Although northern Austria has oil and gas reserves, in order to meet consumer and industrial demand, oil and gas must be imported. Crude oil from Austrian sources and oil poured through the Vienna-Adriatic pipeline from the port of Trieste, Italy, are both processed at Schwechat’s sizable oil refinery.
Ukraine provides additional natural gas via pipeline. Oberösterreich and Steiermark are the primary locations for bituminous coal, which is only present there in very limited amounts. Austria is a significant exporter of hydroelectric power due to its extensive river system and hilly landscape.
Coal, oil, natural gas, and hydroelectric power facilities all supply the nation’s energy requirements. The country’s import debt has been reduced thanks to increases in local power output in the balance of payments. In fact, Austria is a significant exporter of hydroelectric power due to its extensive river network and hilly topography.
A proposal to construct a nuclear power station on the Danube was fiercely opposed in 1978, and the Austrian parliament approved legislation outlawing the production of nuclear energy. By the beginning of the twenty-first century, Austria’s energy production was almost one-third from renewable sources thanks to active government promotion of their use.
Top 8 Natural Resources in Austria
The following are the major natural resources in Austria
1. Arable Land
According to information found on the Trading Economics website, Austria’s total land area was 16.31% arable land in 2015. Arable land was substantially more prevalent in Austria in past years, reaching its peak in 2005 when it made up 16.72% of the country’s total geographical area. Wheat, rye, and fruits are a few farmed agricultural products in Austria.
The easternmost part of Austria is where the country’s farmland is most productive, according to various agricultural specialists. Because of the area’s relatively level surface, the area is important for agriculture. Agriculture played a key role in the Austrian economy prior to the Second World War, but its importance waned following the conflict.
According to information from the Austrian labor ministry, 5.3% of Austria’s total working force was employed in agriculture in 1999. Agriculture still has a large effect in Austria, despite the economy’s declining contribution from the industry.
The reason for the influence is that farmers produce enough milk and cereal to meet the needs of the nation. By providing farmers with subsidies and imposing limitations on imported crops, the Austrian government has implemented some measures to slow the deterioration of the nation’s agricultural sector.
2. Sugar Beets
One of Austria’s most significant crops is sugar beets. According to estimates from the Austrian government, more than 3.5 million tons of sugar beets were produced there in 2016. In Austria, sugar beet output fluctuated a lot during the 20th century but steadied during the 21st.
The main use of Austrian sugar beets is to make sugar. There are around 6,500 sugar beet farmers in Austria, according to estimates from the labor ministry. Austrian land is used to grow sugar beets in an area of around 174 square miles.
Cereal crops are also produced in enormous numbers by Austrian farmers. According to government data, Austrian cereal producers produced about 5.7 million tons of cereal in 2016. From the production in 2015, which was almost 4.85 million tons, the production in 2016 climbed dramatically.
Cereal output in Austria has varied greatly, much like the majority of its agricultural industry. According to experts, the fluctuations are brought on by changes in the worldwide environment.
According to data from the Austrian government, more than 46.85% of the nation’s total area was covered by forests in 2016. The figures also show that Austria’s forest cover has gradually increased since 2004 when it was at a level of roughly 46.6%.
Austria’s extensive forest cover is frequently credited to centuries of cultivation and upkeep by the Austrian people. The Austrian government has put in place methods for managing forests that take into account a number of variables, including the woods’ normal growth cycle.
According to a study of Austrian trees, conifers are the most prevalent type of tree. According to estimates, the forestry industry in Austria employs up to 50,000 people.
Despite being a landlocked country, Austria boasts abundant fish stocks in its rivers and lakes. The River Gail, which is home to a number of trout species including the rainbow trout and the brown trout, is one of the principal fishing places in Austria.
Recreational anglers are particularly fond of the river. The Steyr, Salza, and Walster rivers are among the other rivers in Austria where fishing is popular. The alpine salmon is the most prevalent species of fish in Tzlsee Lake, where fishing is also extremely popular.
The minerals found in Austria are one of the nation’s most valuable natural resources, according to geological study. Magnesite, iron ore, and lignite are a few of the crucial minerals of Austria.
According to geological information, Austria’s whole land has mineral resources, with the largest deposits being located in the northeastern half of the nation, particularly in the Styria region.
Minerals are widely distributed throughout the nation, yet in 1990, they only made up around 2% of the GDP. Since the Second World War, the mining sector’s contribution to Austria’s economy has been progressively shrinking. Even while its significance is waning, it still employs over 7,000 people.
According to estimates, Austria is home to more than 100 mining firms. According to the mining yearbook, Austria produced minerals worth about $32.2 billion in 2013, which was equivalent to about 7.5% of the country’s GDP.
From levels in 2012, when the country’s mineral production was valued at $33.2 billion, Austria’s mineral production has drastically fallen. Mineral production made up around 8.1% of Austria’s GDP in 2012. Austria’s government has implemented various policies to promote the expansion of the nation’s mining industry.
Austria’s location makes the wind one of its most valuable natural resources. Austrians benefit from wind because it is utilized to produce the electricity that is used to power their country. The nation is regarded as one of the major producers of wind energy, and in 2008 it was classified as the 17th greatest generator of wind energy worldwide.
8. Beautiful Scenery
Austria is blessed with a number of breathtakingly beautiful locations that lure tourists from around the world. According to estimates, the tourism sector contributed $18.9 billion to the economy in 2007 making Austria one of the top travel destinations. The nation’s capital and Alps ski areas are two of Austria’s most popular tourist destinations.
List of all Natural Resources in Austria
All the natural resources in Austria include
- Iron ore
It is good to note that about one-third of Austria’s energy production is from renewable energy but more is still to be done as the bulk of Austria’s energy production is still gotten from non-renewable energy.
What does Austria mine?
For a small nation, Austria has exceptionally diverse mineral resources. It is the largest magnesite producer in the world. Significant concentrations of lignite and iron ore are also present, along with minor deposits of wolfram, antimony, gypsum, lower-grade graphite, dolomite, talcum, kaolin, quartz, and salt.
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