Austria’s exports hold steady
According to preliminary figures for 2016 from Statistics Austria , Austria’s export economy took a slight dip to EUR 131.2 billion (-0.2%) while the total value of goods imported to the country (EUR 135.6 billion) was 1.5% up on the previous year. At EUR 4.4 billion, the deficit in the balance of trade was more than twice as high as in 2015.
In 2016, approximately 70% of Austria’s foreign trade was conducted with member states of the European Union, with the remaining 30% transacted with other countries. Germany remained Austria’s biggest trading partner in 2016, and more than half of the country’s trade was concluded with just five nations: besides Germany, imports came from China, Switzerland and the Czech Republic, while most exports went to Germany, the USA, Italy, Switzerland and France.
Some 87% of Austria’s exports were in the four largest product groups by value: ‘machinery and vehicles’ (up +0.3% to EUR 52,5 billion), ‘processed goods’ (down -2.2% to EUR 28.2 billion), ‘chemical products’ (down -0.6% to EUR 17.8 billion) and ‘other manufactured goods’ (up +0.8% to EUR 15.4 billion).
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