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Foreign trade figures of Austria

Foreign Trade in Figures

The Austrian economy is heavily dependent on foreign trade, which accounts for 124% of GDP (World Bank, latest data available). Its trade with the countries of the European Union accounts for almost 70% of its total trade (WTO). According to data from Statistics Austria, machinery and vehicles retained their position as the foremost product group in Austrian international trade during 2022, accounting for 30.8% of imports and 35.6% of exports. Imports in this category experienced an 11.2% increase, reaching EUR 65.72 billion, while exports grew by 12.6%, totalling EUR 69.03 billion. Other prominent export product groups included manufactured goods, which surged by 21.4% to EUR 42.90 billion, chemical products with a 15% increase to EUR 29.08 billion, and other manufactured goods rising by 14.2% to EUR 20.27 billion. Notably, these four product groups collectively represented 83.1% of Austrian exports in 2022. Other major import groups were manufactured goods (16.3%) and chemical products (13.8%). Additionally, there was a substantial rise of 86.0% in imports of fuels and energy, amounting to EUR 25.88 billion.

Germany is by far Austria’s privileged partner for both imports and exports. In 2022, Austrian exports to Germany represented 29.9% of the total, while imports accounted for 32.2%. Italy (6.8%), the U.S. (6.7%) and Switzerland (5.1%) were among the main export destinations, whereas for imports China was the second main origin (8.1%), followed by Italy (6.1%) and Switzerland (4.7% - Statistics Austria). The manufacturing industry is well integrated into Germany’s value chain. Austria remains therefore dependent on the economic conjuncture in Germany and in other central and eastern European countries. Overall, the EU accounted for 68.6% of exports and 65% of imports in 2022.

Austria imports more goods than it exports: USD 213.7 billion of goods were imported in 2022 (+19.8% y-o-y) as opposed to USD 194.1 billion of exports (+17.2% y-o-y – Statistics Austria). In the same year, exports of services amounted to USD 81.2 billion while imports stood at USD 73.8 billion. Austria’s external trade balance has invariably been in surplus since 1999: in 2022, the external balance of goods and services stood at 0.5% of GDP (World Bank), down from 0.9% one year earlier. From January to September 2023, preliminary data from Statistics Austria show that the total value of imported goods reached EUR 153.17 billion, while exports of goods amounted to EUR 149.64 billion. Austrian international trade sustained a downward trend in this period, marked by a more pronounced decline in imports than in exports, resulting in a trade surplus: imports experienced a 4.% decrease, whereas exports registered a 3.4% increase. Consequently, the trade balance deficit narrowed to EUR 3.54 billion, a significant improvement compared to the EUR 14.83 billion deficit recorded in the corresponding period the previous year. In the first nine months of last year, Austria experienced a decline in the value of goods imported from European Union member states, totalling EUR 98.19 billion, reflecting a decrease of 6.4%. Conversely, the value of goods exported to EU countries saw a positive trend, with a notable increase of 2.6% compared to the corresponding period in 2022, reaching EUR 102.21 billion. This resulted in a favourable trade balance with the European Union, amounting to EUR 4.02 billion, marking a significant improvement from the deficit of EUR 5.28 billion recorded in the same period of 2022.

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 184,758172,449219,520233,519224,543
Exports of Goods (million USD) 178,670169,418202,806211,929223,549
Imports of Services (million USD) 65,83255,68566,79574,32380,670
Exports of Services (million USD) 76,63964,99070,38983,18390,217

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 107.9107.9100.2111.2120.1
Trade Balance (million USD) 1,4014,8933,902-336-800
Trade Balance (Including Service) (million USD) 13,27115,74612,9982,5086,753
Imports of Goods and Services (Annual % Change) 5.32.1-9.213.75.7
Exports of Goods and Services (Annual % Change) 5.24.0-10.79.611.1
Imports of Goods and Services (in % of GDP) 52.552.148.655.359.3
Exports of Goods and Services (in % of GDP) 55.555.851.655.960.8

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 1.81.83.03.02.5
Volume of imports of goods and services (Annual % change) -1.71.83.53.12.3

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Austria is a member of the following international economic organisations: European Union, ICC, Schengen Agreement, IMF, G-9, WTO, among others. For the full list of economic and other international organisations in which participates Austria click here. International organisation membership of Austria is also outlined here.
Free Trade Agreements
The complete and up-to-date list of Free Trade Agreements signed by Austria can be consulted here.
 

Main Partner Countries

Main Customers
(% of Exports)
2022
Germany 29.7%
United States 6.5%
Switzerland 5.3%
France 4.0%
Hungary 3.9%
See More Countries 50.6%
Main Suppliers
(% of Imports)
2022
Germany 31.7%
China 8.1%
Switzerland 4.8%
Czech Republic 4.6%
United States 3.4%
See More Countries 47.5%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

203.8 bn USD of products exported in 2022
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.9%
Human blood; animal blood prepared for therapeutic...Human blood; animal blood prepared for therapeutic, prophylactic or diagnostic uses; antisera and other blood fractions and immunological products, whether or not modified or obtained by means of biotechnological processes; vaccines, toxins, cultures of micro-organisms (excl. yeasts) and similar products 3.2%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 3.0%
Electrical energyElectrical energy 2.3%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 2.3%
See More Products 85.2%
226.5 bn USD of products imported in 2022
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 4.3%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.0%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 3.7%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 2.8%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 2.2%
See More Products 83.0%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: April 2024