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New trade statistics for trade relations between Austria and the UK

17. April 2014

The trade relations between Austria and the UK have developed well, however, there is always room for improvement and further development.

The Financial Crisis in 2007 affected trade in both directions severely and trade levels have yet to regain the level of 2007. But statistics project a positive gradual recovery.

TRADE IN GOODS

Austria’s goods exports to the UK saw a recovery in 2013 with above average growth of 5% to 3.6 bn EUR. The biggest export category - machinery, equipment and vehicles - accounts for 46% of Austria’s exports to the UK. This is followed by manufactured goods at 19% and finished goods at 17%.

In 2013 the UK’s goods exports to Austria decreased by 4.9% to 2.1 bn EUR. The biggest export category is also machinery, equipment and vehicles with 47%, followed by chemical goods (including pharmaceuticals) at 18%, and manufactured goods at 12%.

TRADE IN SERVICES

In 2012 Austria’s services exports to the UK increased by 11.7% to 1.7 bn EUR. This positive development continued throughout the first 9 months of 2013 with a further increase of 5%.

The UK’s services exports to Austria jumped by 21.9% to 1.5 bn EUR in 2012 and continued their strong increase in 2013 with a growth rate of 24% in the first 9 months.

FOREIGN DIRECT INVESTMENT (FDI)

Strong FDI data further underlines the close economic ties between Austria and the UK. At the end of 2012 Austrian companies had invested an aggregate total of 4.1 bn EUR in the UK. According to 2011 data, around 17.000 jobs are provided through Austrian Investments in the UK

FDI of UK companies in Austria stood at 3.6 bn EUR at the end of 2012, whith roughly 10.000 jobs provided though the UK investments in Austria (2011 data).

Click on graphs to enlarge:






If you would like more information on these statistics, please don't hesitate to get in touch with us. Call us on 020 7584 4411 or drop us an email london@advantageaustria.org .

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