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Austrian exports hit record high in 2014

2015.03.26

Exports were up by 1.7% in 2014, reaching an all-time high of almost EUR 128 bn and slashing the trade deficit by more than half.

Preliminary figures for 2014 from Statistics Austria once again show the strength and competitive edge of Austria’s exporters. From January to December 2014 the export of goods rose by 1.7% to EUR 127.9 bn, while imports slipped back against the previous year by 0.8% to EUR 129.72 bn. This has resulted in the trade deficit falling by more than half to EUR 1.83 bn (2013: EUR 4.9 bn).

Around 80% of Austrian exports went to Europe – almost 70% to EU member states (EUR 88 bn/+1.4%). The remaining 20% were divided between Asia (9.5%), America (8.6%), Africa (1.3%) and Australia and Oceania (0.7%).

Improvements in the trade balance primarily came from the increased sale of goods to non-EU countries. Exports to third countries were up by 2.1% to almost EUR 40 bn. A longer-term view shows that the share of exports accounted for by third countries has risen from 27.4% in 2009 to 31.2%.

Austria’s most important export markets in 2014 were Germany, Italy, the USA, Switzerland, France and the Czech Republic.

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