Austria is ranked as the 31st largest export economy in the world and it exports $141 billion of goods every year while importing $146 billion, which gives it a negative trade balance of $4.74 billion. The GDP of Austria is $376 billion which results in a GDP per capita of $49,400. The country has managed to improve its export performance in the last five years and the value of its exports has risen at an annualized rate of 0.7% during that period, rising from $140 billion to $141 billion.
Austria’s economy is dependent on foreign trade and closely linked to the economies of other EU countries, particularly Germany. The major export commodity in Austria is the automobile and its components, machinery and paper products. Austria’s largest exports markets are European Union, United Sates and Switzerland.
Austria imported $162B, making it the 26th largest importer in the world.
imports in Austria increased to 13584 EUR Million in May from 13443 EUR Million in April of 2019. Imports in Austria averaged 3979.88 EUR Million from 1953 until 2019, reaching an all time high of 14750 EUR Million in October of 2018 and a record low of 61 EUR Million in January of 1953
Imports in Austria is expected to be 13400.00 EUR Million by the end of this quarter. Looking forward, we estimate Imports in Austria to stand at 14000.00 in 12 months time. In the long-term, the Austria Imports is projected to trend around 13700.00 EUR Million in 2020
Austria imports mainly machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products and foodstuffs. Its main import partners are European Union countries (Germany, Italy, Netherlands), Switzerland, China and United States.
Austria exported $148B, making it the 30th largest exporter in the world.
Exports from Austria climbed 8.2 percent from a year ago to EUR 13.22 billion in May 2019, boosted by sales to non-EU countries (14.2 percent) and to the EU (5.8 percent). Considering the first five months of the year, shipments rose 5.6 percent to EUR 65.42 billion. Exports in Austria averaged 3689.35 EUR Million from 1953 until 2019, reaching an all time high of 14130 EUR Million in October of 2018 and a record low of 59 EUR Million in February of 1953
Exports in Austria is expected to be 13200.00 EUR Million by the end of this quarter. Looking forward, we estimate Exports in Austria to stand at 13400.00 in 12 months time. In the long-term, the Austria Exports is projected to trend around 13600.00 EUR Million in 2020.
