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Moderate INCREASE in Austrian foreign trade in first half 2014

19 September 2014

Austrian foreign trade increased moderately in the first half of 2014 and the trade deficit was significantly reduced.

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%).

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