Importing from Austria

Austria Import Guide | Trade Finance Global

Importing from Austria

Austria has a population of 8 million and a high standard of living; it ranks as one of the eleven richest countries in the world in terms of GDP per capita. The main trading partner is Germany, but since Austria became a member of the European Union, it has developed closer links to other European Union economies. This has been coupled with foreign investment, as Austria has the ability to access the single European market and a close proximity to the growing economies of the European Union. This has all lead to an increasing rate of GDP growth.

The main imports are cars ($8.8B), refined petroleum (around $6B), crude petroleum (around $6.5B), vehicle parts (around $4.5B) and Petroleum Gas (around $4B).

Austria Country Profile

Official Name (Local Language) Republik Oesterreich
Capital Vienna
Population 8,711,770
Currency Euro
GDP $387.3 billion
Languages German
Telephone Dial In 43

Austria Exports Profile

Exports ($m USD)

159,971

Number of Export Products

4,303

Number of Export Partners

219

Top 5 export partners

Country

Trade

% Partner Share

Germany

47,526

29.71

United States

10,561

6.60

Italy

9,995

6.25

Switzerland

8,346

5.22

France

7,762

4.85

Top 5 Export Products at HS 6 digit level

Export Product

Number

Human and animal blood; microbial cultures; tox

3.5%

Other medicaments of mixed or unmixed products,

3.1%

Engines, diesel, for the vehicles of Chapter 87

2.9%

Engines, spark-ignition reciprocating displacin

2.7%

Other hormones and derivatives, nes; other ster

1.8%

Chart Showing GDP Growth Compared to rest of world

Importing from Austria: What is trade finance?

Austria has a population of 8 million and a high standard of living; it ranks as one of the eleven richest countries in the world in terms of GDP per capita. The main trading partner is Germany, but since Austria became a member of the European Union, it has developed closer links to other European Union economies. This has been coupled with foreign investment, as Austria has the ability to access the single European market and a close proximity to the growing economies of the European Union. This has all lead to an increasing rate of GDP growth.

The main imports are cars ($8.8B), refined petroleum (around $6B), crude petroleum (around $6.5B), vehicle parts (around $4.5B) and Petroleum Gas (around $4B).

Information

Austria_Map

Importing from Austria? Contact our local experts

Austria_Flag

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

0.9214

Unemployment Rate

6.1%

Population below poverty line

4%

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

About the Author

Brian Canup is the Editorial & Research Assistant at Trade Finance Global (TFG).

Brian holds a BA in Political Science from the University of Wisconsin-Madison and an MA in International Political Economy from King’s College London.

Back to Top