Foreign Trade

Austria Set to Achieve Small Surplus in Foreign Trade in 2015

Austria should achieve another record in terms of exports in 2015, while foreign trade balance should be slightly positive for the first time since 2007, Austria's Federal Economic Chamber (WKO) head Christoph Leitl said at the opening of the 13th Austrian Exports Day. Leitl estimates the predicted surplus at EUR 0.1 billion (USD 0.1 billion) as imports have been growing at a slower rate than exports. In 2016, foreign trade surplus should be bigger at EUR 0.6 billion.

Yesterday

Austria's Foreign Trade Deficit Sank to EUR 1.74 Billion in 2014

The balance of Austrian foreign trade improved substantially last year. The deficit on foreign trade decreased by EUR 3 billion from EUR 4.90 billion (USD 5.5 billion) to EUR 1.74 billion final figures reported by Statistik Austria show. Whereas imports dropped 0.7 percent, exports increased by 1.8 percent.

June 26, 2015

Strong German Economy Pulls Austria Along

German economy is recovering visibly this year. GDP growth of between 1.6 and 1.9 percent is expected (2014: 1.5 percent). Also Austria should benefit from this growth, as its export is strongly tied to the neighbor's economy. Just under 30 percent of all Austrian exports in 2014 went to Germany.

June 9, 2015

Austrian Foreign Trade with Russia and Ukraine Caved In

Foreign trade between Austria and Russia/Ukraine dropped y/y in Q1 2015: exports to Russia slipped by 39.8 percent, while imports from Russia fell 48.7 percent to EUR 0.4 billion, preliminary figures of Statistik Austria indicate. The imports from Ukraine fell by 31.5 percent, while exports dropped 55.9 percent to EUR 71 million.

June 9, 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

Who are Austria's Trading Partners with Biggest Payment Bottlenecks?

Austria's exporters see the biggest payment delays in the case of trading partners from Turkey, China and Russia, show the data on Austria's key trading partners compiled by export insurer OeKB-Versicherung.

May 11, 2015

Austrian Foreign Trade Grew Again in February

Foreign trade grew again in February, after a contraction in January. Austrian exports increased in February this year, compared to February 2014 by 1.7 percent to EUR 10.30 billion. At the same time imports increased by 1.8 percent to EUR 11.08 billion Statistik Austria announced.

May 8, 2015

Chancellor Faymann: TTIP Free Trade Yes, But on Fair Terms

Federal Chancellor Werner Faymann (SPO) stated in connection to the the TTIP, CETA and TiSA information day to take place on Saturday, that he endorsed free trade, but on fair conditions.

April 17, 2015

Austria's Foreign Trade Shrank By 4.8 Percent in January

Foreign trade substantially decreased in January. Austrian exports sank, compared to the same month of last year by 4.8 percent to EUR 9.53 billion. At the same time imports decreased by 4.5 percent to EUR 10.13 billion according to preliminary data provided by Statistik Austria on Friday. The foreign trade deficit increased from EUR 591.5 million to EUR 600.9 million (USD 645.613 million).

April 10, 2015

Außenwirtschaft Austria: Iranian Oil Exports Expected to Hike Only Temporarily After Sanction Lift

Iranian oil might temporarily flood the market as a result of lifting the nuclear power programme ban imposed on that country, since Iran has huge reserves of the resource. However, once the reserves are used up it will need investments in oil fields, JBC expert Alexander Pögl reckons.

April 3, 2015