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Slight increase in trade deficit

Published: June 8, 2010; 00:00 · (Vindobona)

In the first quarter of 2010, according to “Statistik Austria”, goods worth of €24.89b, were imported which is 3.8 percent more than last year.

First quarter of 2010: About four percent increase in Austria's imports and exports

In the first quarter of 2010, according to “Statistik Austria”, goods worth of €24.89b, were imported which is 3.8 percent more than last year. Exports rose by 3.9 percent to €23.81b.

Overall, this results in a trade deficit of €1.08b in the period from January to March. A year ago, the deficit had amounted to nearly €1.06b.

Goods from EU member states account for €17.98b, representing an increase of 4.2 percent over the same period last year. The value of goods shipped to these countries amounted to €17.02b; an increase by 3.8 percent. The trade with the European Union recorded a deficit of €0.96b euros (same period in 2009: €0.85b).

As for trade with third countries, the deficit was slightly reduced. Imports increased by 2.8 percent to €6.92b, with exports there was an increase of 4.1 percent to €6.79b. The balance of trade with third countries in the first quarter amounted to €0.13b (2009: €0.2b).

Leitl: “Crisis is finally overcome”

For Economic Chamber president Christoph Leitl the new figures show "that the crisis of 2009 is finally overcome for the local export industry." Particularly gratifying is that "domestic exports were increased to the most important trading partners." For example, exports to the neighbouring states had gained above average: 10.6 percent increase in exports to Slovakia, plus 8.1 percent in Switzerland and Germany, plus 6.1 percent for Hungary and Slovenia. Trading figures to the Czech Republic were precisely average with 3.9 percent.

Significant increases in exports were registered in relation to the European CIS countries (+12.5%) and Asia (+5.3%). Highlight here are the exports to China with an increase of 33.3 percent. "The figures for March are even more positive, where export growth almost hits the 10 percent mark.” said Leitl.

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