Significant Trade Surplus in 2012 Reflects Austria's Competitive Strength

Business › Economy ♦ Published: June 4, 2013; 11:29 ♦ (Vindobona)

Despite the crisis, Austria managed to achieve a significant trade surplus in services in 2012. At the same time it was possible to eliminate Austria's foreign debt in full.

Significant Trade Surplus in 2012 Reflects Austria's Competitive Strength / Picture: © Vindobona.org

Despite the challenging global economic backdrop, in 2012 Austria recorded further strong growth in trade. With a trade surplus of EUR 5.5bn, or 1.8% of gross domestic product (GDP), this was even higher than in 2011 (+ EUR 4.1bn). According to Oesterreichische Nationalbank (OeNB) , this shows the strong competitive ability of the Austrian economy.

Service exports were once again…

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