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Shock for Austrian Foreign Trade: Weak Demand from Abroad Depresses Exports
The Austrian economy is facing a new challenge: exports slumped more sharply in November 2024 than they have for years. In particular, weak demand from Germany and the EU is causing concern - experts are warning of long-term consequences for industry and the labor market.
Weak demand from abroad weighed heavily on Austrian foreign trade. / Picture: © Wikimedia Commons / Petr Štefek / CC BY-SA 3.0 CZ (https://creativecommons.org/licenses/by-sa/3.0/cz/deed.en)
Austria's foreign trade experienced a severe setback in November. Exports fell by 14.7% to 16.32 billion euros compared to the same month last year, while imports fell by 3.9% to 16.51 billion euros. As a result, the trade balance slipped into deficit: 0.19 billion euros more was imported than exported.
Trade with Germany in particular - traditionally Austria's most important…
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