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Slight increase in Austrian exports in first half 2013

18 November 2013

From January to June 2013 a slight increase in exports contrasted with a decline in imports by 3,5 percent. This has resulted in a significant reduction in Austria's trade deficit.

According to preliminary results from Statistics Austria , the export of goods in the first half of 2013 was up by 1.1% on the previous year, at EUR 62.29 bn, while imports declined by 3,5% to EUR 63.73 bn. One positive knock-on effect is that Austria’s foreign trade deficit fell by around two-thirds, from EUR 4.39 bn (2012) to EUR 1.44 bn (2013).

Exports to EU countries stagnated in the first six months of 2013 (-0.3%; EUR 42.36 bn), while those to non-EU countries saw a continuous rise (+4.1%; EUR 19.94 bn). There was particularly strong growth in exports to Russia (+19.4%), North Africa (+17.3%), the USA (+3.8) and Asia (+2.1%).

Austria’s strategy of focusing on developing new markets beyond Europe has paid off, allowing exporters to exploit growth opportunities and diversify risk.

In terms of export volumes, the most important trade partners in the first half of 2013 remained Germany, Italy, Switzerland, France and China.

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