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Austrian global exports increased by 2.3 percent in 2008

Economy © photocase.com/C-PROMO.de

© photocase.com/C-PROMO.de

March 26, 2009

2009 will be a tough year

In 2008 Austria’s exports increased by 2.3% to 117.3 billion EUR, while imports grew by 4.3% to 119.1 billion EUR. According to an analysis of the Austrian Statistical Office (Statistik Austria), the global economic crisis started to impact Austria’s foreign trade. Especially November and December 2008 were very weak as Austrian exports shrank by 14.3% and 9% (compared to the same months in 2007). Machinery imports and exports in 20008 registered a 2% decrease during the year 2008. The President of the Austrian Federal Economic Chamber Christoph Leitl expects 2009 to be a “tough year for exports”.

Austrian exports to the United States were down nearly 10% (5.2 billion EUR) in 2008 and U.S. deliveries to Austria also dropped by 9% (3.4 billion EUR).

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