Austrian exports at all-time high
Austria’s export industry reached an all-time high in 2011 with export volumes of EUR 122.16 billion (+11.7%). Imports also rose by 15% to EUR 130.76 billion. These figures exceeded the previous trade high from 2008, even against the backdrop of the international economic slump and the European debt crisis.
Around 70% of Austria’s total trade was generated by trading goods with EU member states. As in the previous year, the most important trade partners were Germany and Italy. Foreign trade with third states underwent even more dynamic growth than with EU states: exports were up by 14.7% to EUR 36.97 bilion. The most important partner countries for non-EU exports were the USA, Switzerland, Russia, China and Japan.
The more than 40,000 Austrian exporters benefited from multiple factors in 2011: the economy blossomed in Asia and Latin America, in the USA industry and exports remained expansive, while the German economy held its ground and an economic surge gathered pace once again on the markets of Central and Eastern Europe.
Despite difficult conditions for the global economy, record-breaking exports are also in sight for 2012, with Austria’s exporters aiming for volumes of between EUR 125 billion and EUR 130 billion. The share of service exports in particular should increase; ultimately every euro generated by service exports brings in a further 7 euros in goods exports.