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Austria's External Trade Deficit 2023 has Fallen Sharply
Austria recorded a remarkable reduction in its foreign trade deficit in 2023. As the latest figures from Statistics Austria show, the deficit fell by around 90 percent from 20.59 billion euros in 2022 to just 2.02 billion euros. This decrease is mainly due to cheaper energy imports, especially gas.
In 2023, the value of imports amounted to €202.78 billion, a decrease of 5.8% compared to the previous year. At the same time, exports rose by 3.1% to EUR 200.76 billion. The Director General of Statistics Austria, Tobias Thomas, attributed this positive trend to the significant reduction in gas imports and the increase in exports of machinery, vehicles, and chemical…
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