Austrian Current Account Deficit Rising

BusinessEconomy ♦ Published: February 27, 2012; 14:25 ♦ (Vindobona)

Against 2010, the Austrian current account deficit almost doubled. Both imports and exports reached record levels.

Austrian Current Account Deficit Rising / Picture: © Wikimedia Commons / Biberbaer [CC BY-SA 3.0]

In 2011, Austrian exports grew substantially to € 122.5bn, which is a rise of 12%. However, as import showed a stronger rise, the deficit grew from € 4.3bn to € 8.2bn last year. Imports were up by 15% to € 130.7bn. „In 2012, we want to surpass this record of 2011.“ Christoph Leitl, President of the Austrian Chamber of Commerce (WKO) announced. Leitl seeks an export volume of…