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Austria’s Foreign Trade Close to Record Level

Published: June 30, 2011; 13:15 · (Vindobona)

Austrian imports and exports recovered strongly and increased by more than 16% in the year 2010. The trade balance deficit amounted to € 4.28bn.

Austria’s Foreign Trade Close to Record Level / Picture: © Wikimedia Commons / NOAA [Public Domain]

According to final results by Statistics Austria, total imports amounted to € 113.65bn and total exports amounted to € 109.37bn in the period from January to December 2010. Austrian imports increased by 16.5% and Austrian exports rose by 16.7% compared to 2009. Trade volume in both directions came close to the level of the record year 2008 (imports 95.1%, exports 93.1%).

In the reporting period, Austria imported goods worth € 82.35bn from EU member countries, which corresponds to an increase of 15.5% compared to the previous year. Exports to these countries amounted to € 77.14bn, up 16.0% from 2009. Trade with third countries showed a 19.1% increase in imports to a total of € 31.31bn. Exports amounted to € 32.23bn (+18.4%).

The global foreign trade balance showed a deficit of € 4.28bn in the full year 2010. While trade with the EU countries resulted in a negative balance of € 5.20bn, a plus of € 0.92bn was achieved in trade with third countries. Austria recorded the highest negative balances in foreign trade with Germany (€ -10.32bn), China (€ -2.62bn) and the Netherlands (€ -1.51bn). The highest positive balances were achieved in trade with the US (€ 1.70bn) and the UK (€ 1.59bn).

Exchange of goods with Germany accounted for more than a third of Austria’s foreign trade volume in 2010. It was followed by Italy, Switzerland and the Czech Republic. China improved to the fifth rank, followed by the US and France.

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