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New Record in Agricultural Foreign Trade

Published: October 6, 2011; 15:46 · (Vindobona)

The first half of 2011 brought double-digit growth rates in all product categories. Exports to Hungary increased by 43%, making it the number three buyer country.

New Record in Agricultural Foreign Trade / Picture: © Vindobona.org

Exports of Austrian agricultural products showed a clear upward trend from January to June 2011. Their total amount increased by 21.2% to € 4.5bn in the reporting period, Agrarmarkt Austria (AMA) reported on Thursday. Assuming that the positive development will continue in the second half of the year, AMA is confident that the € 9bn mark will be surpassed in 2011 and that the trade balance will further improve in 2012.

Exports to Germany, Austria’s most important foreign market, went up 16% in volume and reached an amount of € 1.5bn. The strong development was also driven by the twelve new EU member states who bought goods for € 827m (+24%) and now account for almost 20% of Austria’s agricultural exports. Particularly strong results were registered for trade with Hungary (exports of € 224m, +43%), Slovenia (€ 158m, +11%) and the Czech Republic (€ 146m, +20%), despite the poor economic situation in these countries.

According to AMA, exports are becoming more and more important for the Austrian agricultural industry. Today only one third of total domestic production is consumed in the country, while two thirds are sold abroad.

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