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Technologic Leadership Is the Driving Factor for Foreign Trade

Published: October 11, 2013; 13:55 · (Vindobona)

According to the Austrian Institute of Economic Research (WIFO), Austria benefits substantially from the technologic innovation in the last decades and the opening the CESEE region.

Technologic Leadership Is the Driving Factor for Foreign Trade / Picture: © Flickr

In the medium term, technology is the key driver for foreign trade, WIFO reports. WIFO underlined that Austria could improve its position in the last decades substantially. In the 1980, Austria turned from a “technology follower” to a “technology leader”. Moreover, the opening of the markets in the CESEE region accelerated the trend. Due to the growth in exports, the…

This article includes a total of 103 words.

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