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Foreign Trade

Hungary: Foreign Trade Declines

External trade in goods, preliminary results, January–September 2012: Balance of external trade shows surplus of HUF 211 billion.

November 8, 2012

Czech Exports Stagnate

In September 2012, according to preliminary data of ‘border statistics’, current price exports rose by 0.6%, while imports fell by 3.3%, year-on-year (y-o-y).

November 6, 2012

Hungary: Export volume grew by 1.7% in August

In August, the export volume grew by 1.7% and the import volume decreased by 0.3% compared to the base level. The exports of machinery and transport equipment decreased by 3.2%.

October 31, 2012

Romanian Economy to Shrink Further

With a large negative contribution expected to come from agriculture, real GDP should decline again in Q3 in quarterly terms (as well in annual terms). The contraction is likely to be larger than initially expected, Raiffeisen Zentralbank forecasts.

October 30, 2012

Austrian-Ukrainian Trade Relations Show Development Potential

According to Richard Schenz, Vice President of WKO (Austrian Chamber of Commerce), the economic relations between Austria and the Ukraine are excellent.

October 25, 2012

“Austrian businesses pursuing expansion in Vietnam”

Great potential in the future-oriented energy, environmental and education sectors.

October 24, 2012

Kazakh President Nazarbayev in Austria

Today, the Kazakh President Nursultan Nazarbayev was received by the Austrian President Heinz Fischer. The Austrian industry hopes for orders worth € 500m.

October 22, 2012

Austrian Trade with Russia is Booming

This year, the Austrian Chamber of Commerce expects new record results. Above all, South Russia is perceived as future market.

October 18, 2012

Czech National Bank Open for Interventions

At the moment, the Czech National Bank (CNB) sees no reason for weakening the exchange rate of the Czech Crown. However, CNB is ready to start interventions if necessary.

October 12, 2012

Austrian Economy Stagnates

According to Austrian National Bank (OeNB), the economic growth rate will be slightly negative. A recession is not excluded.

October 12, 2012

Austrian Foreign Ministry Wants “Better coordination for development cooperation”

"No single country can solve all the major problems of our time alone", Austrian State Secretary Reinhold Lopatka said at the "Development Dialogue" event in Parliament today.

October 12, 2012

Small Growth in Hungarian Foreign Trade

From January to August 2012, the Hungarian export value rose by 2%.

October 9, 2012

Moderate Growth in Slovak Foreign Trade

Increasing foreign trade development in August and over the first eight months of 2012.

October 9, 2012

Serbia´s National Bank Fights Against Inflation

Today, the Serbian National Bank raised the base rate from 10.50% to 10.75%. IMF has lowered the economic outlook for Serbia.

October 9, 2012

Hungarian Economy Still Shows Weakness

The country´s economic growth remains low, public debt leaves no leeway for fiscal policies. A high level of foreign debt remains a significant weakness of the Hungarian economy.

October 6, 2012

Austrian Foreign Trade Grows Decently

January to July 2012: slight increase in imports (1.9%) and exports (2.1%).

October 5, 2012

Eastern Europe Remains Austria´s Future Region

The Austrian economist Christian Keuschnigg thinks that the opening of Austrian companies toward Eastern Europe was a “highly favourable event”.

October 4, 2012

Austrian Trade with Russia Reaches New Record

This year, bilateral trade with Russia will reach about € 7.0bn. President of the Austrian Chamber of Commerce Christoph Leitl wants to strengthen foreign trade with Russia.

October 4, 2012

Serbia to Grow in 2013

The Serbian economist Jurij Bajec explained that the Serbian economy will recover next year. Real GDP growth will reach 2.0%, he says.

October 1, 2012

Slovak Foreign Trade Activity Growing Remarkably

In 2011, goods in the amount of € 56 959,9m were exported from the Slovak Republic. Compared with 2010, the total export increased by 18%.

October 1, 2012

Serbia Expects Rising Tax Intake

In order to meet demands of IMF, the Serbian Parliament approved the revised 2012 budget. The tax intake will not solve the country´s problems, economists consider.

September 29, 2012

Austria: Exports Rise in First Half 2012

Despite the difficult economic backdrop, exports underwent slight growth in the first six months of the year. Developments in foreign trade with third countries were particularly positive.

September 27, 2012

Croatia: Recession Aggravates

According to the Croatian Statistical Office, GDP was down by 2.2% compared to last year.

September 20, 2012

Croatia Wants to Join the Eurozone

In July 2013, Croatia becomes the 28th member of the EU. After the accession, the Croatia should join the Eurozone too, the government says.

September 19, 2012

„Turkey has a Right of being a EU Member“

On the occasion of a visit in Vienna, the Turkish Minister of Economics Zafer Caglayan complains about the “disingenuous manner” of the EU towards Turkey. In the end, only Turkey will decide on the accession.

September 19, 2012

National Bank of Slovakia Adapts GDP Growth Forecast

According to NBS, the Slovak economic growth is expected to reach 2.7%. This is higher by 0.2 percentage points than NBS forecasted in June.

September 19, 2012

Czech Republic: Exports to Russia Reach new High

In 2012, the exports to Russia are estimated to surpass € 4.6bn. This would be a new record.

September 15, 2012

Slovakia´s Economy Still Performs Well

In the second quarter of 2012, GDP growth came at 2.8% after 3.0% in the first quarter.

September 15, 2012

Croatia´s Fight Against the Recession: More Austerity and Increase in Exports

According to Paul Krugman, the development of Croatia´s economy depends on the performance of the export-oriented industry.

September 14, 2012

Serbia: Exports Decline, Foreign Deficit Goes Up

According to RCB (Raiffeisen Centrobank), the draught in Serbia is likely to reduce the corn yield exports volumes. The trade deficit rose by 13.6% in June.

September 8, 2012

Imports Still Bigger than Exports

The Austrian external trade increases moderately in the first half of 2012. Export growth was slightly higher than import growth.

September 7, 2012

Serbia´s Current Account Deficit on the Rise

According to RCB (Raiffeisen Centrobank), the current account gap widened in June by 15.6% mom supported by remittances fall (-32.0% mom),

September 7, 2012

Poland Adapts Austerity Targets

Due to the economic crisis in Europe, the Polish government gives up its aim to reach a budget deficit below 2.2% of GDP.

September 5, 2012

Slovakia Records Growing Current Account Surplus

In the first five months of 2012, Slovakia´s current account surplus reached € 1.24bn. Against the reference period of 2011, this is an increase by € 350m.

September 4, 2012

Slovenian Bankruptcy Would Hit Austria Particularly Hard

Prime Minister Janez Jansa announced that Slovenia may have to declare its national bankruptcy in October. Austria´s share in foreign direct investment made in Slovenia reaches about 50%.

September 3, 2012

IMF: Austria Must Prevent Spillover Effects

The Executive Board of the International Monetary Fund (IMF) has concluded the Article IV consultation with Austria. The Austrian banking sector is “overly ambitious” in the CESEE region, IMF says.

September 3, 2012

Romania Still Shows Weak Growth Rates

“We expect economic recovery to remain sluggish. Weak external demand suggests exports and industry would not offer support to GDP growth. “ RCB (Raiffeisen Centrobank) says.

August 31, 2012

Barroso: “We Must Complete Europe” (Part 2)

At the Alpbach Economic Symposium 2012, the President of the EU-Commission José Manuel Barroso explained the “logics of integration”. In order to meet new challenges, the EU has to promote integration, Barroso says.

August 30, 2012

Spindelegger Welcomes Russia’s WTO Accession

Austrian Foreign Minister Michael Spindelegger underlines Russia´s importance for the domestic business location.

August 30, 2012

Lithuania Suffers From Crisis in Eurozone

The Baltic country has to lower GDP growth forecasts. As foreign trade grows not as fast as expected, the Bank of Lithuania becomes more cautious. This year, Lithuania´s GDP is expected to grow by 3.0%.

August 22, 2012

Austrian Economy to Stagnate

Domestic economy set to stagnate in the third quarter – chances of a slight upswing towards the end of 2012. Thanks to a good first half of the year, economic growth will come in at around 1 per cent in 2012.

August 18, 2012

Croatia: Crisis Sharpens

The Croatian recession seems to continue. Consumption falls further, unemployment continues to rise.

August 7, 2012

Austria Has Fourth Biggest Net Surplus

The EU27 current account shows a deficit € 4.1bn. € 31.1bn surplus for trade in services.

July 19, 2012

Europe Hinders Austrian Economy

Due to the European economic weakness, Austria almost stagnates. Slight corrections in austerity programmes, weaker euro and lower oil prices indicate an economic stabilisation in late 2012 though.

July 17, 2012

Bulgaria Aims to Join Eurozone

Bulgaria´s Finance Minister Simeon Djankov underlines the importance of the banking supervision and the Fiscal Pact, but wants to keep the fiscal competence.

July 16, 2012

Poland Not to Enter the Eurozone Soon

For the time being, Poland will keep the Zloty. After the Eurozone has managed the current crisis, an accession is conceivable, Foreign Minister Radoslaw Sikorski says.

July 14, 2012

EU – An Escape for Serbia?

The economic prospects for Serbia are gloomy. The priority of the new Serbian government is to join the European Union.

July 14, 2012

Austrian Foreign Trade Figures Flattening

After record results in 2011, the growth in Austrian foreign trade was substantially down in the first months of 2012. Austrian politics promotes exports to non-European markets like China, Brazil and the U.S.

July 12, 2012

Stable Outlook for Austrian Industrial Sector

Austrian industrial enterprises expect production, order intake and employment tob e stable in the second half of 2012. The uncertainty remains.

July 11, 2012

Economic Report: „Reducing Dependence on Europe“

Today, the Austrian government published ist „Economic Report 2012“.

July 9, 2012