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Exports in 2008: Positive overall result for Austria

Office building with glass front and national flags © photocase.com/altplecher

© photocase.com/altplecher

27. March 2009

2009 will be an increasingly difficult year for exporters. Eastern Europe remains the most promising market for Austrian companies, who will continue to celebrate international successes thanks to their quality and innovation.

Despite the onset of the economic slump, particularly in the last quarter of 2008, Austria still managed to achieve a positive overall result. Exports in 2008 rose by 2.3% to EUR 117.3bn, while imports rose by 4.3% to EUR 119.1bn. “We can be proud of this result, which also shows the tremendous importance of exports to the Austrian economy”, underlined Christoph Leitl, President of the Federal Economic Chamber (WKO) during the presentation of the Austrian foreign trade results for the year 2008.

Austrian companies still see the best export growth opportunities as being in Eastern Europe. Other promising regions for Austrian foreign trade (in addition to the top five export markets of Germany, Italy, Switzerland, the Czech Republic and the USA) include South East Asia and China, the Middle East (Gulf region) and countries in the CIS. The most promising opportunities are in the field of “Urban Technologies” (energy, environmental engineering, environmental infrastructure), infrastructure and construction, as well as in the nutrition sector.

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