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Meetings Calendar 2006
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Austrian exports - a success story

 

Since EU accession, Austrian exports have increased nominally by 140% (or 9% per annum on average). Of all the EU countries, only Ireland has higher export growth. In 2004, Austrian exports of goods accounted for 37.9% of GDP. After reaching record levels of EUR 79 billion in 2003, goods exports rose again in 2004 by just under 14% to almost EUR 90 billion. Machines and road vehicles top the list of goods exported.

The EU is Austria’s most important export market. Roughly one third of exports go to Germany. Outside the EU, China and the USA are Austria's most important market for exports (30% increase in exports combined). The countries of Central and Eastern Europe, and in particular the new Member States, have also been significant trading partners for some years now. Since the opening of the borders to Eastern Europe in 1989, this region has become one of the most dynamic export markets for the Austrian economy.

 

Chart and Table

 

 

Since 1989, Austrian exports to Central and Eastern Europe have increased many times over. In 1990, the share of exports to these countries was 8.25%. By 2004, this share had risen to 14.4%, with goods to the value of EUR 11 billion exported to this region. Austria’s most important trading partners among the ten new EU Member States are the Czech Republic and Hungary.

Imports from the new Member States have also increased significantly since the end of the East-West division. The share of imports from Central and Eastern European countries as a proportion of Austrian imports as a whole was 5.01% in 1990. By 2004, this share had increased to 12.2%.

Austria, which only accounts for 2% of the EU’s inhabitants, generates around 8% of the EU’s external trade with the new Member States and has a significant balance of trade surplus in this region. In 2004, this surplus stood at EUR 1.4 billion.

 

Chart and Table

 

 

Austria: an important investor in Central and Eastern Europe

In 2004, direct investment abroad by Austrian investors reached record levels. New capital investment stood at EUR 5.8 billion, surpassing the previous peak from 2000. For the first time, Austrian investors were holding just as much capital in foreign enterprises (around EUR 52 billion), as foreign investors were holding in Austria. More than half of the capital invested went to the countries of Central and Eastern Europe.

Austria’s investments are concentrated on the new EU Member States and South-East Europe, notably Romania, as well as Bulgaria, Croatia, Serbia and Montenegro and, for the first time, Albania.

 

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Date: 01.02.2006