Austrian Foreign Trade News and Analysis

Read the latest headlines about developments in Austrian foreign trade

Austrian Foreign Trade: Covid-19 Pandemic Takes its Toll

Austria's imports and exports both declined heavily in 2020. A year characterized by the Covid-19 pandemic, the total value of imports decreased by around 9 percent compared to 2019, while Austrian companies exported 7.5 percent less than the year before. In total, imports and exports resulted in a trade balance deficit of around EUR 2 billion.

March 15, 2021

Swiss President Visits Austria

The new Swiss President Guy Parmelin conducted his first trip abroad to meet with Austria's Federal President Alexander Van der Bellen and National Council President Wolfgang Sobotka in Vienna. The politicians discussed the Covid-19 situation in Europe, the Swiss relations with the EU and bilateral cooperation between Switzerland and Austria.

March 4, 2021

New EU Trade Strategy: Schramböck Welcomes Proposal

Austria's Minister of Economics Margarete Schramböck welcomes the European Commission's document on a new EU trade strategy. The proposal incorporates various topics that will determine the EU's trade strategy for the next few years. Lessons learned from the Covid-19 crisis with regard to inner-European policy as well as international trade is accounted for in the proposition.

February 18, 2021

How the EU-Japan Economic Partnership Agreement Benefits Austria

The EU-Japan Economic Partnership Agreement (EPA) celebrates its second anniversary by adding 28 protected geographical indications, one of them important for Austria, and facilitating trade in wine and vehicles. The agreement does not only benefit the EU as a whole, but has also immediate impact on Austria's economy.

February 8, 2021

US Ambassador Traina Leaves Austria

The U.S. Ambassador to Austria Trevor Traina has concluded his mission and returns to his home country. Austria's Chancellor Kurz and Foreign Minister Schallenberg thank Traina for his commitment to better the bilateral relations between the two countries, while Traina himself bids farewell in a video starring highlights of his term.

January 26, 2021

New US Presidency: Austria and EU Welcome New Chapter

Joe Biden, as new President of the United States, and Kamala Harris, as new Vice President, were inaugurated on January 20, 2021. The reactions from politicians throughout the European Union and Austria to the inauguration and the President's first acts were filled with hope and positivity.

January 22, 2021

Brexit Agreement: Austria's Economy Significantly Better Off

The Austrian Institute of Economic Research (WIFO) has issued a study in which the effects of the post-Brexit trade agreement between the United Kingdom and the European Union was compared to a no-deal scenario. The results of the study show that the Austrian economy be happy with the negotiated agreement.

January 14, 2021

Eurochambres President Demands Repositioning of EU

After the post-Brexit trade deal between the EU and the United Kingdom has finally been set up, Eurochambres President Christoph Leitl demands repositioning of the European Union and does not only see negative impacts of the UK leaving the single market and the customs union.

January 11, 2021

Austro-American Society Celebrates 75th Anniversary

The Austro-American Society (ÖAG) celebrated it 75th anniversary on January 6, 2021. The Austrian Ambassador to the USA, Martin Weiss, the U.S. Embassy in Vienna, and the heads of the ÖAG used this occasion to underline the goals of the society's. These comprise the strengthening of the Austro-American relations in the aspects of social, economic, cultural and public life.

January 7, 2021

Investment Agreement with China Opens Doors

The European Union and China have agreed on a joint investment agreement. The core elements of the "Comprehensive Agreement on Investment" (CAI) include better market access, sustainability and a level playing field for European and Chinese companies. Considering the fact that China will be the biggest economy of the world in the near future, the agreement opens doors to a huge market.

December 30, 2020

Schramböck: "UK Will Remain Important Partner in Europe"

Although the United Kingdom will be leaving the European Union's customs union and single market at the end of 2020, Austria's Economics Minister Schramböck assures that "Austria's companies will continue to play a significant role in the UK markets" in the future. The newly negotiated agreement between the UK and the EU will provide a proper framework for these business relations.

December 30, 2020

WKO: Importance of Trade Agreements

The chairman of the Federal Board for Foreign Trade in the Austrian Federal Economic Chamber (WKO), Karl Pisec, underlines the importance of international trade agreements for the European Union as well as for Austria. As an example to show benefits of trade agreements, he uses the EU's agreement with the Mercosur states and the Regional Comprehensive Economic Partnership in Asia.

December 23, 2020

Virtual Meeting Between Czech Republic, Slovakia and Austria

The Czech and Slovak Foreign Ministers met with Austria's European Affiars Minister to discuss cooperation during the Covid-19 pandemic and the joint fight against terrorism. Other topics on the agenda were the EU's migration policy, the current budget negotiations and the conference on the future of Europe.

November 16, 2020

Central Five Held Virtual Conference

The Foreign Ministers of Slovenia, Slovakia, Hungary, the Czech Republic and Austria (Central Five) held a virtual working meeting. On the agenda of the meeting were current foreign relation issues, but especially the ongoing fight against the Covid-19 pandemic and the recent terror attack in Vienna.

November 12, 2020

Austrian Economic Mission to Dubai, Abu Dhabi and Bahrain

The Austrian Federal Economic Chamber is organizing an open-industry economic mission to the United Arab Emirates and Bahrain. The program includes networking with local business leaders and multipliers, preparations for the postponed Expo 2020 in 2021 and the opening of new business opportunities.

November 10, 2020

US Election: Schallenberg Looks Forward to Continuing Partnership With US

After the US Election, Austria's Foreign Minister Schallenberg wants to continue the good cooperation with the new administration but also emphasizes the importance of having a strong European community that does not need to rely on the US or any other partners.

November 9, 2020

Conference of Frugal Four and Finland Was Hosted by Austria

The Foreign Ministers of Denmark, Sweden, the Netherlands and Finland came to Vienna to meet with Austria's Minister for European Affiars Edtstadler. On the agenda was the issuance of a joint statement in which they Ministers condemn the recent terror attack in Vienna and other topics regarding the cooperation of the five countries.

November 5, 2020

Macron Was to Visit Austria, Now Only Virtual Meeting With Kurz

The French President Macron had planned to travel to Austria to meet with Sebastian Kurz. However, due to the Covid-19 measures in place, the two politicians will only meet virtually. After the recent terror attack in Vienna as well as in Nice, the topic of discussion will be the fight against Islamist terrorism. A common European approach is demanded and will also be discussed during the working meeting.

November 4, 2020

Kurz: All of Europe in Middle of the Second Wave

At a video conference with all of the heads of state and government of the European Union, Chancellor Kurz and the other country heads discussed Covid-19 measures and a common approach of the EU. Since the second wave has already hit many of the member countries, better coordination than in the spring of this year is demanded by almost every country.

October 30, 2020

Áder Met Van der Bellen

The Hungarian President Áder visited his Austrian counterpart in Vienna to discuss the current fight against Covid-19. Although there would have been many other EU and bilateral topics to discuss, the prevailing matter is the rising infection numbers in Europe and the measures taken by the various governments.

October 30, 2020

Beligum Is Now Warning of Travel to All of Austria

The Belgian Foreign Ministry now warns of travel to all nine federal states of Austria. Carinthia and Styria complete the list of the federal states that are depicted in red, which is the highest Covid-19 warning level. Travellers from these areas need to self-quarantine for at least ten days.

October 29, 2020

Austrian Post Invests More Than EUR 100 Million in Turkish Subsidiary

Despite the critical tensions between the European Union and Turkey, the Austrian Post will be investing more than EUR 100 million in a Turkish subsidiary in the next five years. CEO Pölzl is confident that the separation of politics and the business aspect will be also possible in the future.

October 23, 2020

Austrian National Bank: Exports Increase Again

Exports, excluding tourism, were above the comparable figures from 2019 for the first time in Austria since the outbreak of the Covid-19 crisis. The Austrian National Bank is confident that a second wave can be contained and that no further monetary or fiscal policy measures are needed.

October 21, 2020

EU Council: Kurz Demands Better Coordination of Restrictions

At the EU Council of the heads of state and government, Chancellor Kurz demands better coordination of travel restrictions, quarantine periods and testing with regard to Covid-19. Other topics on the agenda were the Brexit negotiations, foreign relations, and climate protection.

October 16, 2020

Canadian Foreign Minister Visits Austria

The Canadian Foreign Minister Champagne visited Austria to conduct meetings with UN Organizations as well as with Chancellor Kurz and Foreign Minister Schallenberg. The topics on the agenda were the CETA agreement, the Covid-19 pandemic and current foreign trouble spots.

October 15, 2020

EU Introduces Covid-19 Traffic Light System to Clarify Travel Situation

The EU member states have agreed on a common system to coordinate travel restrictions with regard to Covid-19. Similar to the current Austrian system, the colors of a traffic light will indicate the risk of the particular areas within the EU borders.

October 13, 2020

Minister President of Bavaria Meets Kurz: "Borders Need To Stay Open"

Both, the Minister President of Bavaria Markus Söder as well as Austrian Chancellor Kurz, agreed on the fact that the borders between Germany and Austria need to stay open despite an increasing numbers of Covid-19 cases in both countries.

October 9, 2020

Edtstadler Welcomes Progress in Accession Process of Western Balkan States

The European Commission has agreed on a financial package for economic integration of the Western Balkan states. The good developments in North Macedonia and Albania are not only welcomed by the European Union but also by Federal Minister Edtstadler.

October 8, 2020

Slovenian President will join Van der Bellen for "100 Years Carinthian Referendum"

For the first time ever, a Slovenian President will take part in the ceremony for "100 Years Carinthian Referendum". Slovenian Head of State Pahor will be joining his Austrian counterpart Van der Bellen for the celebrations.

October 7, 2020

Swedish Minister for EU Affairs Met Austrian Counterpart

The Swedish and Austrian Minister for EU Affairs have come together to discuss current EU topics which included migration policy, the joint fight against Covid-19 and recent developments between Great Britain and the EU regarding Brexit.

October 7, 2020

European Council Decides on Sanctions Against Belarus

The European Council which was attended by the heads of the 27 member countries decided on sanctions against Belarus as well as a threat of sanctions against Turkey. Chancellor Kurz, Autria's representative at the Council, is satisfied with the two-day long discussions.

October 5, 2020

Austrian Economy Slumped by 12.1% in Q2 2020

The newly published report by Statistics Austria shows a massive economic slump in the second quarter of 2020. Austria's GDP declined by more than 12 percent compared to the second quarter of 2019 while expectations for the last two quarters of the year are not much better.

September 28, 2020

EXPO 2020 Dubai: Austria Pavilion Past First Construction Stage

The World Expo 2020 in Dubai, which will now be taking place in 2021, will also be starring about 100 companies from Austria. With the completion of the Austria Pavilion's first construction stage, these companies are now one step closer to a successful exhibition.

September 25, 2020

Ukrainian Foreign Minister in Vienna

Ukrainian Foreign Minister Kuleba visited his Austrian counterpart Schallenberg in Vienna to discuss the countries' cooperation in the fight against Covid-19 and economic relations. The conflict in eastern Ukraine and the developments in Belarus were also talked about.

September 17, 2020

Zelensky Visits Austria

Ukrainian President Zelensky came to Austria to visit President Van der Bellen, Chancellor Kurz and President of the National Council Sobotka. The topics comprised the successful bilateral economic relations and regional conflicts in the Ukraine.

September 16, 2020

Foreign Ministers of Central Five Meet in Slovenia

The heads of diplomacy of Slovenia, Slovakia, the Czech Republic and Austria conducted a working meeting with the topics being the fight against a possible second wave of rising Covid-19 cases and other foreign affairs issues.

September 16, 2020

Warning of Economic Consequences Due to Rising Infection Rates

Austria's Minister for Tourism Köstinger and Minister for Economic Affairs Schramböck emphasize the importance of low Covid-19 infection numbers for the tourism and trade sector. They fear that a rise in numbers endangers Austria's important autumn and Christmas business.

September 15, 2020

Suspension of Restrictions Between Hungary and Austria

Hungary has lifted the 30-kilometer and 24-hour restrictions for commuters from Austria. This makes cross-border life and business significantly easier and allows the trading relationship between the two countries to flourish again.

September 14, 2020

Japan's Abe Thanked Kurz for Cooperation

In a telephone summit, Japan's Prime Minister Abe and Austria's Chancellor Kurz wished each other farewell since Abe will step down as Japan's leading politician due to health issues.

September 10, 2020

Slovak-3 Summit with Matovič, Babiš, and Kurz

The Slovak-3 Summit with the highest officials from Slovakia, the Czech Republic, and Austria took place in Vienna. The topics comprised cooperation in the fight against the pandemic and the overall relations between the three neighboring countries.

September 10, 2020

Eurogroup President Donohoe Met Blümel

New Eurogroup President Donohoe and Austrian Finance Minister Blümel met at a round table discussion on "Europe's Comeback". Topics were the strength of a common currency union and strategies on how to achieve the economic comeback.

September 9, 2020

EU Puts a Hold on Austria's Fixed Cost Subsidies

The European Commission has questioned Austria's newly introduced fixed cost subsidy to the surprise of many Austrian politicians and experts. Companies in the sectors tourism and export were predominantly planned to be subsidized.

September 9, 2020

Joint Statement by Greece and Austria

Greek Prime Minister Mitsotakis and Austrian Chancellor Kurz have issued a joint statement that deals with European refugee policy and the ongoing dispute with Turkey over the natural gas deposit in the Mediterranean.

September 9, 2020

Meeting Between Janša and Kurz

Slovenia's Prime Minister Janša and President Pahor welcomed Chancellor Kurz for a working visit. All three politicians highlighted the important bilateral economic and political relations.

September 8, 2020

Foreign Trade Has Partially Recovered from Crisis

According to the latest report from Statistics Austria, imports and exports are only slightly behind last year's number indicating an upwards trend after Covid-19 has impacted foreign trade significantly.

September 8, 2020

National Council President Sobotka Met Slovak and Czech Counterparts, Kollár and Vondráček

Austria's National Council President Wolfgang Sobotka invited his Slovak and Czech counterparts, Boris Kollár and Radek Vondráček, to discuss the cooperation between the three neighboring countries and other political issues.

August 31, 2020

Foreign Minister Alexander Schallenberg at the Informal Meeting of EU Foreign Ministers in Berlin

Austria's Foreign Minister Schallenberg has come together with the other EU Foreign Minister to discuss current foreign affairs. The main topics were the conflict between Greece and Turkey, the current situation in Belarus, relations between the EU and Russia, and the peace process in the Middle East.

August 28, 2020

Despite Covid-19 Crisis: Austrian Automotive Supplier Pollmann International Builds Plant in Mexico

Austrian company Pollmann International expands to Mexico where it will build a plant in order to better supply the Central and South American market.

August 25, 2020

Austrian Strabag Expands Rail Network in Eastern Germany

Austrian technology company Strabag will be significantly influencing the rail road system in eastern Germany because of a deal that has them extending rail lines in Berlin and between Leipzig and Dresden.

August 25, 2020

Vienna's Mayor Michael Ludwig Met German Vice Chancellor and Minister of Finance Olaf Scholz

Mayor Michael Ludwig and German Vice Chancellor Olaf Scholz met for a working meeting in Vienna. Discussions were held about economic relations and municipal topics such as affordable housing.

August 25, 2020