AUSTRIAN MACHINERY & METALWORKING INDUSTRY
October 29, 2007
With 1,857 companies the Austrian machinery & metalworking industry (includes metal forming, metal fabrication and mechanical engineering) is the single largest sector of Austria’s manufacturing industry and the largest employer in Austria; it directly employs about 170,000 professionals and the number continues to rise. In 2006 the Austrian machinery & metalworking industry sold goods worth over 40.3 billion EUR. Mechanical engineering and metal production are key high-tech branches of the Austrian industrial sector.
The latest industry developments paint a bright future. The value of exports has risen sharply against imports over the last several years. Owing to high production and R&D costs in Austria, export growth can’t be generated strictly through price competition. Austrian companies prevail in the tough global competitive arena by offering top-quality products for small niche markets.
The Association of the Austrian Machinery & Metalware Industries (FMMI) - one of Austria’s largest trade associations - released its annual industry report on July 18th. The year 2006 was by all measures a success. Exports rose 15.3% reaching 27 billion EUR. Orders increased by more than 20 % in comparison to 2005 arriving at 41 billion EUR – a staggering 50% of Austria’s production of durable goods. Machinery, the key industry sector, accounted for 23.1% of that growth. With 14.8% growth, the metal processing industry’s performance was more moderate.
Revised statistics indicate that the industry’s production volume totaled nearly 40 billion EUR, an increase of 15.4%. The output of the metal producing sector went up 16.7%, whereas the machinery sector’s output increase was 15.3%.
Austrian manufacturers have a good reputation worldwide and are known for their innovative spirit and for delivering top-quality products. Demand for products “Made in Austria” continues to rise – overall commodity exports rose 15.3% reaching 27 billion EUR in 2006. Machinery and metal products account for roughly 26% of Austria’s total exports.
Preliminary results indicate continuous growth this year. Although overall economic growth is expected to slow down, economists and industry experts are predicting moderate growth of the metalworking industry in 2008.
Brief Profile:
- autonomous professional organization within the framework of the Austrian Federal Economic Chamber
- represents all industrial enterprises active in mechanical and plant engineering, steel construction and metalworking production on a national level
- is among the most important industrial and employers’ associations in Austria
Tasks and Services:
Mainly acts as a
- pressure group
- information broker
- service provider (incl. individual concerns and questions)
Goals:
- improvement of general business conditions
- improvement of the sector’s image
- improvement of the competitiveness and attractiveness of Austria as an industrial location
FMMI publishes monthly and annual reports on developments within the industry as well as the directory of its member companies with complete contact details and product information.
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