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Austrian Foreign Trade News and Analysis
Read the latest headlines about developments in Austrian foreign trade
Vienna and Triest - Through History Connected
A recent visit by Triest's Mayor Roberto Cosolini highlights that Vienna and Trieste were connected in the Austro-Hungarian monarchy for more than 500 years. Especially in the 18th and 19th century the port of Trieste flourished and because of its location became one of the most developed economic areas of the Habsburg Empire. It was the most important port of one of the Great Powers of Europe. As a prosperous seaport in the Mediterranean region, Trieste became the fourth largest city of the Austro-Hungarian Empire (after Vienna, Budapest, and Prague).
June 25, 2015
VIG's Compensa Acquires Lithuania’s Largest Life Insurance Sales Company
Vienna Insurance Group company Compensa Life SE has strengthened strengthened its sales structure in Lithuania with the acquisition of life insurance sales specialist Finsaltas. Finsaltas holds Latvia's biggest life insurance distribution network and recorded some EUR 7.1 million (USD 8.0 million) in life insurance premiums in 2014. for an undisclosed amount, VIG said Friday.
June 12, 2015
KTM Sportmotorcycles are now Manufactured in India
Upper Austrian manufacturer KTM first revealed its KTM Duke 250 and RC 250 in Tokyo. Now there is a buzz that KTM will start manufacturing Duke 250 and RC 250 at Bajaj's chakan plant in Pune/India and will start exporting the bike to other countries. The KTM Duke 250 and RC 250 are exported to Austria, Japan, Hong Kong, Malaysia, Turkey and Thailand.
May 29, 2015
Make in India: Forum "Alternative India" in Vienna, Linz and Graz
As part of the trade promotion initiative of the Department of Foreign Trade of the Austrian Federal Economic Chamber and the Ministry of Economy “Going International - Going to India” the Federal Economic Chamber (WKO) together with the Austrian Trade Commission in Delhi, organized “Forum Alternative India” in Vienna, in Linz and in Graz.
May 28, 2015
Aircraft Component Maker FACC Moves Operations Partially to the US
FACC AG has established an additional plant in Wichita/USA for the purpose of expanding the company's global presence in repair and maintenance.
April 13, 2015
Austrian Export Day 2015 - Tomorrow is Today: Meet Trade Delegates at the Exporttag
On June 30, 2015, from 10am to 5pm the Export Day (Exporttag 2015) of the Austrian Chamber of Commerce (WKO) will take place in Vienna. Economic delegates from all over the world will be present.
March 27, 2015
Indian Embassy in Vienna Launches ‘Make in India’ Campaign
India's new Prime Minister Narendra Modi launched the ‘Make in India’ campaign, aimed at reviving the job-creating manufacturing sector. India's Mission in Vienna will be organizing a business event focusing on “Make in India” on 9th November at the Austrian Chamber of Commerce, followed by events in other provinces. The campaign includes invitations to Austria’s top companies to explore investment possibilities in India.
October 7, 2014
Austria's Foreign Trade: Imports +1.0%, Exports +1.2% in H1 2014
According to preliminary results by Statistics Austria, total imports amounted to €64.62 bn and total exports amounted to €63.23 bn in the period January to June 2014.
September 5, 2014
Analysis: Bilateral Trade and Investments Between Turkey and Austria Decreased Slightly
According to the office of the Commercial Counsellor of the Turkish Embassy in Vienna, Austria is Turkey’s 34th largest goods export market with exports worth US$ 1 billion.
June 9, 2014
TTIP-Myths and Realities According to AmCham Austria
The American Chamber of Commerce in Austria (AmCham Austria) promotes the expansion and strengthening of trade and commerce relations between Austria and the US. Talks on a future EU-US trade deal started in July 2013 and are set to continue throughout 2014. The talks are part of a trade and investment deal, known as the Transatlantic Trade and Investment Partnership, or TTIP.
June 3, 2014
Poland: Economic Growth to Accelerate Further
Today, the U.S. rating agency Fitch has revised its economic forecast.
February 5, 2014
Czech Republic: Euro Introduction Has no Priority
In an interview with Bloomberg, designated prime minister Bohuslav Sobotka said that there will be no date for entering the Eurozone in the current term.
January 17, 2014
Romania: Economic Growth not Sustainable Yet
In the third quarter of 2013, Romania´s GDP growth amounted to 4.1%. Nevertheless, Romania is still far from a sustainable economic recovery.
January 11, 2014
Czech Economy: Good Prospects for Sustainable Recovery
The Czech economy is expected to return to growth already in the first half of 2014. Growth will not be only based on exports.
January 10, 2014
Hungary: Best Economic Outlook since 2002
After the country had left the double-dip recession, the Hungarian economic sentiment index has reached the highest level in more than 11 years. Nevertheless, the country still has to manage number of fundamental risks.
December 28, 2013
„CESEE No Driver Yet“
Birgit Kuras, CEO of Vienna Stock Exchange, thinks that the Vienna Stock Exchange is highly influenced by the CESEE operations of listed companies.
December 23, 2013
Hungary: Positive Outlook, Negative Frame Conditions
In the short term, Hungary´s economy will accelerate. However, it is still uncertain whether the country achieves a sustainable return to growth.
December 21, 2013
Poland: Interest Rate to Remain at Record Low
In the first half of 2014, the National Bank of Poland (NBP) will not alter the reference rate, economists say.
December 10, 2013
Czech Republic Remains in Recession
The Czech economy continues to shrink. Above all, private consumption and investments are weak.
December 5, 2013
CESEE: Slight Growth Acceleration, but Uncertainties Persist
The Vienna Institute for International Economic Studies (wiiw) has published the economic forecast for the CESEE region today. The economic performance varies substantially from country to country.
November 28, 2013
Czech Republic Among Most Open Economies in EU
In terms of foreign trade, the Czech Republic is one of the most open economies in the European Union, the Czech Statistical Office reports.
November 20, 2013
Romania: Growth Leader in the EU
In the first three quarters, Romania´s economic growth rate reached 2.7%
November 16, 2013
Hungary: Moderate Increase in Foreign Trade
From January to August 2013, Hungary´s export volume was up by 1.4%. Imports increased by 0.4% year-on-year.
November 1, 2013
Slovakia: Exports Are Key Driver for Growth
Last year, Slovak exports were up by 9.4%. The main export products are automotive products and electronics. Germany is Slovakia´s main trade partner.
November 1, 2013
Visegrad Countries Encourage Western Balkans to Join EU
Representatives from Poland, the Czech Republic, Slovakia and Hungary support the EU accession of Western Balkan countries.
October 31, 2013
Poland: Key Rate to Remain Low
In order to support the positive growth trend, the Polish National Bank (NBP) will keep the key rate flat next year. Poland´s economic growth is mainly based on foreign demand, though.
October 24, 2013
Croatia: Inflation Moderate
At the session the CNB Council examined recent economic and monetary indicators, as well as expected further developments.
October 10, 2013
Serbia Fights Against National Bankruptcy
The Serbian government has decided to implement a new austerity package. Above all, civil servants face substantial salary cuts.
October 9, 2013
Czech Republic: Foreign Trade Surplus Grows
In August 2013, according to preliminary data of ‘cross−border statistics’ at current prices, exports increased by 1.9% while imports stagnated, year-on-year (y−o−y).
October 8, 2013
UK: Growth Potential in CESEE
According to the IMF, the UK economy is not diversified sufficiently. Now, UK promotes exports to the CESEE region.
October 5, 2013
Romania: Recovery Depends on External Factors
Thanks to foreign demand and foreign investors, Romania´s economy accelerates. However, domestic demand is still the country´s weak point.
October 4, 2013
CESEE: Recovery Slow, but Stable
Corporate sentiment improving in major CEE countries as well, as the economic recovery begins to take root. Low point in interest rates has essentially been reached, rises in yields to follow trends in the developed markets, RZB says.
October 4, 2013
Romania: Consumption Remains Sluggish
In order to support Romania´s economy, the National Bank of Romania continues its monetary easing policy.
October 3, 2013
Hungary: Net Exports Grow Slightly
In the seventh month of 2013, the export volume of external trade in goods increased by 7.4%, while the volume of imports grew by 6.4% year-on-year.
October 3, 2013
Slovakia: Economic Upward Trend Supports Fiscal Targets
After six consecutive quarters of economic deceleration, Slovakia faces better economic data. The positive trend helps Slovakia´s government.
September 26, 2013
Poland: Recovery Remains Fragile
Poland´s economy has bottomed out. However, the recovery mainly depends on foreign demand.
September 26, 2013
CNB: No Monetary Interventions Necessary
The Czech Republic´s economy moves forward slowly. A weaker koruna is not necessary.
September 24, 2013
Slovenia: Recession Goes On
In the second quarter, Slovenia´s GDP was down by 1.7% year on year. This year, Slovenia´s GDP will fall by 3.0%, economists say.
September 2, 2013
Erdogan Considers Leaving U.N.
Turkey´s Prime Minister Recep Tayyip Erdogan puts pressure on the United Nations. The representation of the Security Council is not balanced, Erdogan criticizes.
August 26, 2013
Turkey: Capital Outflow Endangers Economic Stability
The monetary and economic stability is under enormous pressure. Turkey´s National Bank does not have sufficient reserve to support the Turkish lira.
August 24, 2013
Czech Republic: Foreign Trade Shrinks
In June 2013, according to preliminary data of ‘cross−border statistics’, exports and imports at current prices decreased by 2.5% and 4.8%, year-on-year (y−o−y), respectively.
August 6, 2013
Serbia: Moderate Upward Trend
In the first three months, Serbia´s GDP was up by 0.5%. However, domestic demand is still declining.
August 6, 2013
Slovenia: Economic Sentiment Stabilizes
This year, Slovenia will not be able to leave the recession behind. However, the economic sentiment begins to improve in some sectors.
August 5, 2013
Croatia: Upwsing Depends on Return of Investors
Vedrana Jelusic, head of EBRD Croatia, thinks that Croatia benefits from the joining the EU. Introducing the euro is no issue yet, she told “Wirtschaftsblatt”.
August 3, 2013
Poland: Slow, but Steady Progress
Poland´s National Bank anticipates a longer term of interest rate stabilization. The economic trend reversal will come in the third quarter, rate setter Andrzej Bratkowski stated.
August 2, 2013
Cautious Optimism in Slovakia
The economic outlook for Slovakia brightens slightly. The export-oriented country benefits from the stabilization in the Eurozone.
August 2, 2013
Hungary: Exports Growing Moderately
External trade showed a surplus of EUR 641 million in May.
August 2, 2013
Poland: Foreign Trade Deficit Grows Substantially
Poland's final 2012 trade deficit comes at € 10.584 bn, according to statistics office.
July 30, 2013
Russia: Inflation on the Rise
In the first six months of 2013, the inflation rate came at 3.5%. Compared to the reference period of 2012, the inflation rate was up by 0.4 percentage points.
July 23, 2013
Turkish National Bank Raises Base Rate
Today, Turkey´s National Bank has increased the base rate from 6.5% to 7.25%. Turkey wants to prevent a devaluation of the lira.
July 23, 2013
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