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Austria´s Manufacturing Industry Maintains its Competitiveness

Business › Economy ♦ Published: October 17, 2011; 15:08 ♦ (Vindobona)

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Austrian goods exports rose significantly since 1995. According to a study of the Austrian Central Bank (OeNB), this is mainly due to a higher degree of competitiveness.

Austria´s Manufacturing Industry Maintains its Competitiveness / Picture: © Vindobona.org

Within these 15 years, Austrian goods exports could almost double. From 1995 to 2007, the share of goods exports on the Austrian GDP rose from 23% to 43%. In the past, the Austrian trade balance has been traditionally negative. Since 2002, this figure is balanced on average. As a result, the dependence from the global economic dynamic increased. The GDP slump in 2009 was thus a result…