Statistics Austria – Austrian exports reach record heights
Austria’s foreign trade saw dynamic growth in 2017, with imports and exports both rising by more than 8%.
According to provisional data from Statistics Austria for 2017, Austria’s export economy has scaled unparalleled heights, with export volumes reaching some EUR 142 billion (+8.2%). Over the same period, the total value of goods imported to Austria rose 8.8% from 2016 to EUR 147.6 billion, meaning that the trade deficit has risen from EUR 4.4 billion to EUR 5.7 Billion.
Approximately 70% of Austria’s trade (imports: 70.9%, exports: 69.8%) was conducted with member states of the European Union in 2017. Germany was once again the largest trading partner in 2017, and more than half of all Austria’s foreign trade was conducted with just five countries: Germany, Italy, China, Switzerland and the Czech Republic on the import side, with the greatest volume of exports going to Germany, the USA, Italy, France and Switzerland.
Some 87% of Austrian exports were in the following four product groups, which were the largest by value: “Machinery and Vehicles” (up +7.7% to EUR 56.6 billion), “Manufactured Goods” (up +9.8% to EUR 30.9 billion), “Chemicals” (up +11.9% to EUR 19.8 billion) and “Other Manufactured Goods” (up +3.3% to EUR 15.8 billion).