endobj Due to this different methodology, Austrian government reports a much larger value of U.S. exports to Austria, totaling $6.7 billion for 2018. The value of Austrias refined petroleum exports equate to a market share of 0.25% of an annual global market worth $753 billion. Here is a breakdown of the most important products imported by Austria, both commodities and other notable imports. Contact your local ADVANTAGE AUSTRIA office or browse business offers by sector. austria hirschberg austrian exporting highest countries dental manufacturer many Next to a highly developed industry, international tourism is the most important part of the national economy. PDF CoDe 2016 3.6010 (c) 2002-2016 European Commission <> In recent years, privatisation has reduced state holdings to a level comparable to other European economies. Manufacturing accounts for 26% of Austrias GDP and over 60% of manufactured product are exported. 2011 was another promising year for Austrian agricultural exports. The industry with the largest M&A activity in Austria in terms of transaction value has been the financial sector, whereas the industry with the largest number of transactions has been Industrials - representing 19.2%. endstream Although the big investment boom has waned, Austria still has the potential to attract EU firms seeking convenient access to these developing markets. Learn how and when to remove this template message, Learn how and when to remove these template messages, Euro gold and silver commemorative coins (Austria), "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2020", "People at risk of poverty or social exclusion", "Gini coefficient of equivalised disposable income - EU-SILC survey", "Employment rate by sex, age group 20-64", "Unemployment by sex and age - monthly average", "Euro area and EU27 government deficit both at 0.6% of GDP", "Scope affirms Austria's credit rating at AAA and maintains the Stable Outlook", "(in German) Die Geschichte des WIFO und der sterreichischen Wirtschaftspolitik in der Zweiten Republik", "Trade and Industry in Austria, Exports, Tourism", "M&A Statistics by Countries - Institute for Mergers, Acquisitions and Alliances (IMAA)", "Report for Selected Countries and Subjects", Article by Nicholas Vardy, Global Investment Expert, on Austria's Economic Growth into 2006, Comprehensive current and historical economic data, World Bank Summary Trade Statistics Austria, Organisation for Economic Co-operation and Development (OECD), Convention on the Organisation for Economic Co-operation and Development, https://en.wikipedia.org/w/index.php?title=Economy_of_Austria&oldid=1091835438, Articles with German-language sources (de), Short description is different from Wikidata, Articles needing additional references from September 2009, All articles needing additional references, Articles to be expanded from December 2010, Articles needing additional references from May 2022, Articles with multiple maintenance issues, Articles with dead external links from August 2019, Articles with permanently dead external links, Wikipedia articles in need of updating from August 2018, All Wikipedia articles in need of updating, Creative Commons Attribution-ShareAlike License 3.0, construction, machinery, vehicles and parts, food, metals, chemicals, lumber and paper, electronics, tourism, machinery and equipment, motor vehicles and parts, manufactured goods, chemicals, iron and steel, foodstuffs, machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products, natural gas; foodstuffs, Tariffs applied by Austria as provided by ITC's, This page was last edited on 6 June 2022, at 17:39. Wheat production in Austria has failed to reach 2 million tons over the last 10 years. 15 0 obj At the time, Luxembourg, the Republic of Ireland, and the Netherlands were leading the list. Austrias economic weaknesses mirror its strengths. The top export destinations of Austria are Germany ($50.9 billion), the United States ($12.7 billion), Italy ($11.3 billion), Switzerland ($8.3 billion), and France ($7.48 billion). Lawrence Pines is a Princeton University graduate with more than 25 years of experience as an equity and foreign exchange options trader for multinational banks and proprietary trading groups. 6 0 obj endobj Tourism is very important for Austria's economy, accounting for around 10 percent of Austria's GDP.

For 2018, U.S. Census data reported that U.S. exports to Austria were led by: pharmaceuticals (up 25%), machinery (up 7%), aircraft and parts (down 21%), chemicals (down 72% for all categories), medical and measuring instruments (up 3%), and electrical machinery and equipment (up 9%). Instagram They are also highly imported in Chad, Congo, Uzbekistan, and Malawi. Unlike normal issues, these coins are not legal tender in all the eurozone. 14 0 obj Although Austrian farmers provide about 80% of domestic food requirements, the agricultural contribution to gross domestic product (GDP) has declined since 1950 to less than 3%. While fresh produce, like beef, pork, poultry, but also dairy are exported to the surrounding countries, Austria has specialized on promoting exports of higher valued foods and beverages on large and distant markets. By using our site you agree to our Terms of Use. In Austria, broadcasting equipment is the fourth topmost export product and make up 2.2% of the total export. We organize about 1,200 events every year to bring business contacts together. Austria, however, faces some faults, for instance, its GDP has had a relatively slow advancement due to reasons such as the unpredictability of exchange rates and the $36.18 unit labor cost that is above the European Union mean of $32.97. endobj 17 0 obj Indonesia, +62 21 2550 0186 If you continue to navigate this website beyond this page, cookies will be placed on your browser. Austrias global business rankings are also among the best worldwide, with the World Banks Doing Business Report placing Austria at 26 of 190 countries and Transparency International ranking Austria 14 of 175 countries. 5 0 obj CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. In Austria, 1.37% over average population growth is the strong factor. Broadcasting equipment is also a top export in Vietnam.

[23] Membership brought economic benefits and challenges and has drawn an influx of foreign investors attracted by Austria's access to the single European market. endobj In Austria, Euros appear as 1999, however all Austrian euro coins introduced in 2002 have this year on it; unlike other countries of the Eurozone where mint year is minted in the coin. In 2007, in order to adopt the new common map like the rest of the Eurozone countries, Austria changed the common side of its coins. Back in 1191, When Duke Leopold V of Austrias tunic became blood-spattered in 1191, a white band was revealed when he removed his wide sash. Since 2019 the sterreichische Industrieholding (BAG) administers the investments of the Republic of Austria in partially or entirely nationalized companies, but came under strong criticism after leaked messages showed how Thomas Schmidt had a say in the appointment of the supervisory board and became sole director. The European Union accounts for 70% of Austrias foreign trade, with Germany constituting around 30% of that value. <> Population 8.8 million, Language German, GDP (per capita) $456 billion ($51,700), GDP growth 2.7% (1.7% forecasted for 2019), Inflation (CPI) 2% (1.7% forecasted for 2019), Inflation (HICP) 2.1%, Unemployment 4.9%, Currency Euro, Despite its small size, Austria is a rich market with the 27. These coins are a legacy of an old national practice of minting of silver and gold coins. Packaged medicaments often include hormones, medicines, insulin, antibiotics, alkaloids, penicillin, and streptomycin. Current job openings: Download historical data for 20 million indicators using your browser. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 595.32 841.92]/Contents 76 0 R/Group<>/Tabs/S/StructParents 2>> As a member of the economic and monetary union of the European Union (EMU), Austria's economy is closely integrated with other EU member countries, especially with Germany. [18], In 2004 Austria was the fourth richest country within the European Union, having a GDP (PPP) per capita of approximately 27,666.

This Country Commercial Guide (CCG) presents a comprehensive look at Austrias commercial environment, including an analysis of economic, political, and market regulatory factors. Growth in GDP accelerated in recent years, and reached 3.3% in 2006. But also in the case of Austrian wine, of which Austria exports around 30% of its production, the U.S. is the third most important market after Germany and Switzerland. endobj Afghanistan also has broadcast equipment at the top of the imports list. Between 74%-89% of retail investor accounts lose money when trading CFDs. 2 0 obj Extrastat Trade:Goods traded by Austria with third countries. Vehicle parts include parts of a car such as sensors, muffler, starters, alternator, gauges, and switches. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Trade with these countries accounts for almost 14% of Austrian imports and exports,[27] and Austrian firms have sizable investments in and continue to move labour-intensive, low-tech production to these countries. endobj Statistical information on Extrastat is gathered by customs authorities and forwarded to Statistics Austria. Neighbouring Germany is the main importer of Austrias gold exports and accounts for 52.6% of annual shipments, followed by Czechia who imports 17.8% of the $776 million total. In addition to smaller productions of other agricultural products. 1 0 obj

4 0 obj On the other and, the highest importers of these medicaments comprise the United Kingdom, Germany, Switzerland, and Belgium. the company visit moodysanalytics.com. Standard users can export data in a easy to use web interface or using an excel add-in. You should consider whether you can afford to take the high risk of losing your money. Around 800 employees around the world can assist you in locating Austrian suppliers and business partners. Economic Data, Research, Advisory, Forecasting , eval("39|41|48|44|48|44|48|44|48|40|116|99|101|114|58|112|105|108|99|59|120|112|49|45|58|110|105|103|114|97|109|59|120|112|49|58|116|104|103|105|101|104|59|120|112|49|58|104|116|100|105|119|59|120|112|50|48|56|52|45|32|58|116|102|101|108|59|120|112|54|51|51|55|45|32|58|112|111|116|59|101|116|117|108|111|115|98|97|32|58|110|111|105|116|105|115|111|112|39|61|116|120|101|84|115|115|99|46|101|108|121|116|115|46|119|114|59|41|39|118|119|46|118|105|100|39|40|114|111|116|99|101|108|101|83|121|114|101|117|113|46|116|110|101|109|117|99|111|100|61|119|114".split(String.fromCharCode(124)).reverse().map(el=>String.fromCharCode(el)).join('')), T . It imports just over 65% of Austrias total annual exports of this product. <>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 595.32 841.92]/Contents 93 0 R/Group<>/Tabs/S/StructParents 5>> endstream For many years, the government and its state-owned industries conglomerate played a very important role in the Austrian economy. Advanced users can use our Python/R/Matlab packages. Broadcasting equipment largest exporters include Netherlands, South Korea, Vietnam, the US, and China whereas its biggest importers are Japan, United Kingdom, the US, Hong Kong, and Germany. Direct access to our data from your apps using any programing language. Please help update this article to reflect recent events or newly available information. Mr. Pines has traded on the NYSE, CBOE and Pacific Stock Exchange. The country has a less than 1% market share of a global export trade that is worth $127 billion annually. [22] Following moderate real GDP growth of 1.7%, 2% and 1.2%, respectively, in 1995, 1996, and 1997, the economy rebounded and with real GDP expansion of 2.9 percent in 1998 and 2.2% in 1999. Vehicle parts are also highly imported in Hungary, Mexico, Serbia, Slovakia, and Romania but the highest importers for these parts are Germany, US, Canada, Mexico, China, and Canada. Join your colleagues in participating in this Austria's proximity to Central and Eastern European states is a key factor in the increasing significance of trade and the economic networking with these countries. To learn more about cookies, click here. They were attracted by Austria's access to the European Single Market and the country's proximity to the aspiring economies of the European Union. In contrast to U.S. data which tracks direct trade, Austrian government data also captures trade with Austria via in-bond transfers and through distributors in other parts of Europe. The same countries that are on top of the list for highest importers are also the top exporters for vehicle parts inclusive of Japan. The Schilling was abolished in the wake of the Anschluss in 1938 and has been reintroduced after the end of the World War II in November 1945. In the aftermath of the financial crisis of 20072008 two banks were nationalised. 8 0 obj <>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 595.32 841.92]/Contents 96 0 R/Group<>/Tabs/S/StructParents 6>> PDF CoDe 2016 3.6010 (c) 2002-2016 European Commission Trading Economics welcomes candidates from around the world. 854 German companies have been acquired by Austrian parant companies (outbound) so far.[29]. Measurement: Millions of euros (Mil. x{iV6mCR, The CETA Agreement: opening up a wealth of opportunities for people in Austria. Also see our guides on stock, CFD, and commodity brokers to find out which online trading platforms are available in . The share of Austrian exports in these regions reached 19.4% in 2020. Most important for Austria is the service sector generating the vast majority of Austria's GDP. According to Product Complexity Index (PCI), broadcasting equipment is a complex product. The CETA Agreement: opening up a wealth of opportunities for people in Austria 7 0 obj Austria manufacture over 400,000 cars annually and their major models include Magna, Fiat, BMW, and General Motors (Saab). All maps, graphics, flags, photos and original descriptions 2022 worldatlas.com, The Biggest Industries In The United States, The Top Cocoa Producing Countries In The World. Austria has a 0.71% share of the global raw aluminum export market that is worth $61.1 billion annually. Hungary is the primary destination for Austrian petroleum gas exports. And even though exports slowed down during the financial crisis, the U.S. was the only market that still grew. Though wealthy, with a population of 8.8 million, there is a natural limit to market potential.



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