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Austria's Foreign Trade on the Upswing

Published: December 14, 2018; 10:12 · (Vindobona)

According to preliminary statistics, the total nominal value of imports of goods in the period January to September 2018 was 5.2% higher than in the previous year at 115.23 billion euros, while exports of goods rose by 6.0% to 111.55 billion euros. The trade balance deficit amounted to 3.68 billion euros after 4.27 billion euros in the same period of the previous year.

Exports to China have increased by +8.7% to 2.94 billion euros. / Picture: © Wikimedia Commons / Keith Skipper [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)]

Austria imported goods worth 81.54 billion euros (+5.2%) from the Member States of the European Union during the reporting period.

The value of goods exported to these countries also recorded an increase over the same period of the previous year (+6.4%) and amounted to 78.35 billion euros.

The trade deficit with the European Union amounted to 3.19 billion euros.

The three most important EU export partners in the reporting period were: Germany (+5.8% to 33.97 billion euros), Italy (+8.8% to 7.31 billion euros) and France (-6.2% to 4.76 billion euros).

Foreign trade with third countries showed an increase both in imports (+5.1% to EUR 33.69 billion) and exports (+4.9% to EUR 33.19 billion) compared with the same period of the previous year.

This resulted in a trade balance liability with third countries of 0.49 billion euros.

On the export side, the most important were the United States (+9.1% to 7.72 billion euros), Switzerland (-1.3% to 5.19 billion euros) and China (+8.7% to 2.94 billion euros).

September 2018 monthly result: imports +1.1%, exports +2.8

In September 2018 the value of imports of goods was 12.63 bn euro, an increase of 1.1% compared with September 2017. Exports of goods amounted to 12.42 bn euro (+2.8%). The trade balance showed a liability of 0.21 billion euros. Adjusted for working days, imports rose by 3.8% and exports by 6.3%.

In September 2018, Austria imported goods worth 8.94 billion euros from the member states of the European Union and exported goods worth 8.56 billion euros to these countries. Compared with September 2017, intra-EU imports fell (-0.7%) - intra-EU exports increased (+0.9%). This led to a trade deficit of 0.38 bn euro with the Member States of the European Union.

Imports from non-EU countries amounted to 3.69 billion euro and increased by 5.6% compared to the same month of the previous year; extra-EU exports also increased (+7.3% to 3.86 billion euro). The resulting positive trade balance with third countries amounted to 0.17 billion euros (see Table 2).

Romania, EU Presidency country 2019, among the 20 most important foreign trade partners

Romania joined the European Union in 2007 and will take over the EU Council Presidency from Austria in January 2019. Between January and September 2018, Romania was one of Austria's 20 most important partner countries: Import rank 20 (share 1.0%), export rank 15 (share 1.7%). Imports rose in the first three quarters of 2018 by 9.5% to EUR 1.10 billion - exports to Romania also increased (+14.0% to EUR 1.91 billion).

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