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Austria's export economy to break through EUR 100-billion barrier this year

White map of Austria on red background © WKÖ

© WKÖ

18. March 2010

Following the crisis year of 2009 which also affected the Austrian export industry, things are once again looking up for Austrian export companies. An export rise of around 6% has been forecast, which will tip exports just over the magic EUR 1-billion border.

For years now the lifeline of the Austrian economy has not just been tourism; it has become increasingly dependent on the export industry. Prior to 2009, six out of ten euros in Austria came from abroad. However, the year of crisis left its mark and led exports to fall by 19.9% to EUR 94.2 billion. Imports for this period fell by 18.2% to EUR 97.8 billion.

However, the last two months of 2009 saw a ray of light emerge on the export horizon. Economic analysts are cautiously optimistic that the Austrian export industry will once again see significant growth this year, predicting export growth of 6% and an export volume of over EUR 100 billion. World trade overall is expected to increase by around 7%.

Christoph Leitl, President of the Austrian Federal Economic Chamber (WKÖ) sees potential for Austrian exporters, first and foremost in countries with continuously high growth rates such as China, India and Brazil. Other promising regions include the Far East, Middle East, CIS Asia and South America. The CEE area will continue to remain crucial. The best opportunities are to be found in the fields of environmental engineering, energy technology, infrastructure, health and medical technology, and foods and beverages.

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