“Germany overestimated, USA and China underestimated”

BusinessEconomy ♦ Published: January 26, 2013; 19:55 ♦ (Vindobona)

Trade with USA and Italy just as crucial for Austrian economy as trade with Germany, Bank Austria reports. "Made in Austria" products count for above-average proportion of Austrian exports.

“Germany overestimated, USA and China underestimated” / Picture: © Vindobona.org

A joint analysis by the OECD and the WTO has departed from the conventional method of calculating foreign trade data, which always measures trade flows upon crossing a border. Instead, it focuses on the added value generated by a country in producing export goods and services. This database takes into account which domestic and foreign components and services make up the total exports…