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Exports continue to be the main driving force of the Austrian economy

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5. August 2008

Austrian exports of goods increased by 7% in the first quarter of 2008 to EUR 30.6 bn; service exports rose by 10% to EUR 12.3 bn.

Austria's export economy experienced uninterrupted dynamic growth in the first quarter of 2008. Both goods and service exports saw significant increases. The trade balance therefore continues to show a stable trend towards greater surpluses.

In the first quarter of 2008, the trade surplus rocketed from EUR 4.1 bn to EUR 5.4 bn year-on-year. Austrian exporters managed to grow their exports by 7% to EUR 30.6 bn, while imports rose by 4% to EUR 29.8 bn. Foreign demand for Austrian services continued to grow, achieving a plus of 10% to EUR 12.3 bn.