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Moderate increase in Austrian foreign trade in first half 2014

19. September 2014

Austrian foreign trade increased only moderately in the first half 2014, however it was possible to achieve a significant improvement in the trade deficit.

According to preliminary results from Statistics Austria , goods exports in the first half 2014 were EUR 63.23 bn, which was 1.2% higher than the comparable figure for 2013. Imports also rose slightly by 1.0% to EUR 64.62 bn. The Austrian foreign trade deficit fell by 8.6% against the comparable period to EUR 1.39 bn.

In terms of trade with the EU, Austria ended the first half with a deficit of EUR 2.16 bn – significantly lower than in the first half 2013 (EUR -2.74 bn). Austria’s exports to EU member states increased by 1.5% to EUR 43.75 bn, while imports held steady with a plus of 0.2% to EUR 45.91 bn.

A key factor was that exports to EU states rose faster against the comparable period (+1.5%; EUR 43.75 bn) than those to third countries (+0.6%; EUR 19.48 bn). There was particularly strong growth in exports to the United Arab Emirates (+21.6%), to the Netherlands (+18.4%), to Canada (+12.4%) and China (+12.2%).

In terms of foreign trade volumes, the most important trade partners in the first half 2014 were Germany, Italy, Switzerland, USA, Czech Republic, China and France.

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