Austria Strengthens its Economic and Diplomatic Relations with Africa

PeopleDiplomats ♦ Published: September 28, 2023; 23:41 ♦ (Vindobona)

Austria has increased its focus on its economic and diplomatic relations with Africa. The country's trade with sub-Saharan Africa amounted to 2.28 billion euros in 2022, or about 0.56 percent of Austria's total trade volume. Austrian exports to the region increased by 15.7 percent year-on-year to 1.33 billion euros. South Africa, Mali, and Nigeria were the main export markets. Read more about why Africa is important for Austria!

Austrian Chancellor Karl Nehammer received the President of Ghana, Nana Akufo-Addo, and described the meeting at the Federal Chancellery between the two governments as "an expression of the close cooperation" between the two countries. / Picture: © Bundeskanzleramt (BKA) / Andy Wenzel

Despite this positive growth, Austria's export volume to Africa in 2021 was only 1.9 billion euros, which corresponds to 1.1 percent of Austria's total exports. However, experts emphasize the potential that lies in the countries of sub-Saharan Africa. These regions are among the most dynamic economies in the world and have shown high resilience in the COVID crisis.