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US - Stage Winner in Race for Foreign Markets

USExport2011 © ADVANTAGE AUSTRIA

© ADVANTAGE AUSTRIA

June 9, 2011

Exports to the United States explode in 1st Quarter 2011

Despite a slow recovery in the United States, Austrian exports grew by 50 percent in the first quarter of 2011. In comparison with other already economically dynamic regions, such as Europe (+20%) and Asia (+30%), the speedy development increased expectations.

Exports to the US were highest even when compared to the outstanding growth rates in the BRIC countries: Brazil +46%, Russia +44%, India +48%, and China +25%.  

Sub-contract production of cars by Austrian company MAGNA, which usually accounted for one fifth of all exports, did not have a major influence this time, which makes the results all the more noteworthy. Decisive factors were the massiv growth of delivery volume made up of single business relationships of small suppliers for one, as well as the numbers reported by the 480 US branches of Austrian companies, some of which expanded significantly over the course of the past years, which rounded up the good results reported by their Austrian headquarters. (CK)

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