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Successful year for Austrian exporters  

Diagram © photocase.com/nortys

© photocase.com/nortys

18. April 2011

In 2010 the value of Austria exports was able to rise considerably. The turnaround after the financial crisis in 2008 seems to have been achieved although there are still some inconsistencies in specific markets.

Austrian foreign trade's recovery was mainly due to the general trend of a global economy recovery. Austrian foreign trade has turned to rise since the first quarter of last year. During the last year Austrian enterprises exported products with a value of 109.2 billion Euro (approx. 855 billions NOK), an increase of 16.5% compared to 2009.

Austria-Norway:

Compared to the year 2009, Austrian exports to Norway have experienced a decrease of 12% (57.52 million EUR/450 million NOK). The most popular export goods are still engineered products and vehicles (54.44% of total exports) but compared to 2009, the exports to Norway in this category decreased from 318.3 million EUR to 230, 5 million EUR (-27.6 %). The most noticeable fall-off (-45.5 %) can be registered at railcars and locomotives. The delivery of new railcars with an order size of about 180 million EUR over the next years is supposed to improve the export quota to Norway again.

In contrast to the exports, the value of imports from Norway to Austria grew about 11% (~ 58 million EUR) in the year 2010. About two thirds of the import is natural gas at a value of approximately 390.3 million EUR.

Due to the financial crisis, Austrian companies were confronted with a challenging market situation. However, due to an upswing of the global and the Norwegian economy an optimistic outlook for exporters is well founded. The sectors which are expected to grow in the next years are construction, environmental technology and, in particular, the renewable energy sector.

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