Exporting to Austria

Austria Export Guide | Trade Finance Global

Exporting to Austria

Austria is the twenty-eight largest export economy in the world and is ranked as the ninth most complex economy according to the Economic Complexity Index (ECI). Austria exports over $160B and imports around $170B per year, which results in a small negative trade balance of around $10B. The GDP of Austria sits at around $430B and the GDP per capita is around $45k.

The main exports of Austria are packaged medicaments (around $5.5B), vehicle parts (around $5B), cars (around $4.5B), petroleum gas ($3.5B) and blood from both humans and animals (almost $3B). The top export destinations of Austria are Germany ($44B), Italy ($11B), the United States ($9B), Switzerland (around $8B) and France ($7B). The top import origins are Germany (around $65B), Italy (around $10.5B), China ($8.4B), Switzerland ($7B), and the Czech Republic ($6.5B).

Austria Country Profile

Official Name (Local Language)Republik Oesterreich
CapitalVienna
Population8,711,770
CurrencyEuro
GDP$387.3 billion
LanguagesGerman
Telephone Dial In43

Austria Imports Profile

Imports ($m USD)

166,475

Number of Import Products

4,466

Number of Import Partners

220

Top 5 import partners

Country

Trade

%

Germany

60,827

36.54

Italy

10,131

06.09

China

9,527

5.72

Switzerland

8,984

5.40

Czech Republic

7,152

4.30

Top 5 Import Products at HS 6 digit level

Export product

Number

Automobiles with diesel engine displacing more

5.9%

Other hormones and derivatives, nes; other ster

3.0%

Petroleum oils, etc, (excl. crude); preparation

2.7%

Petroleum oils and oils obtained from bituminou

2.0%

Natural gas in gaseous state

2.0%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Austria

Agriculture

%

Product list

1.3%

Grains, potatoes, wine, fruit; dairy products, cattle, pigs, poultry; lumber and other forestry products

Industry

%

Industry list

28.1%

Construction, machinery, vehicles and parts, food, metals, chemicals, lumber, paper and paperboard, communications equipment, tourism

Services

%

Services list

70.6%

Exporting to Austria: What is trade finance?

Austria is the twenty-eight largest export economy in the world and is ranked as the ninth most complex economy according to the Economic Complexity Index (ECI). Austria exports over $160B and imports around $170B per year, which results in a small negative trade balance of around $10B. The GDP of Austria sits at around $430B and the GDP per capita is around $45k.

The main exports of Austria are packaged medicaments (around $5.5B), vehicle parts (around $5B), cars (around $4.5B), petroleum gas ($3.5B) and blood from both humans and animals (almost $3B). The top export destinations of Austria are Germany ($44B), Italy ($11B), the United States ($9B), Switzerland (around $8B) and France ($7B). The top import origins are Germany (around $65B), Italy (around $10.5B), China ($8.4B), Switzerland ($7B), and the Czech Republic ($6.5B).

Austria borders the countries of Switzerland, Czech Republic, Hungary, Germany Slovakia and Slovenia. Austrian exports averaged around 3200 EUR million from around 1953 until 2015, and reached an all time high of around 12200 EUR million at the end of 2013 and a low of 59 EUR million at the start of February 1953. The main export partner is the European Union, Switzerland and the United Sates.

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Austria Economic Statistics

Government Website

https://www.bundeskanzleramt.gv.at/

Sovereign Ratings

https://countryeconomy.com/ratings/austria

Central Bank

Österreichische Nationalbank

Currency USD Exchange Rate

9214

Unemployment Rate

6.1%

Population below poverty line

0,04

Inflation Rate

0.9%

Prime Lending Rate

1.8%

GDP

$387.3 billion

GDP Pro Capita (PPP)

$47,900

Currency Name

Euro

Currency Code

EUR

World Bank Classification

High Income

Competitive Industrial Performance

19/138

Corruption Perceptions Index

16/180

Ease of Doing Business

26/190

Enabling Trade Index

7/136

Currency in Austria

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