Austria's Trade Influence In The European Union

Austria's economy is dependent on foreign trade and closely linked to the economies of other EU countries, particularly Germany. Austria trades with some 150 countries, with the European Union accounting for about two-thirds of the total. In 1999, EU countries purchased 65% of Austria's exports, with Germany taking 36%, Italy 9% and France 5%. Austria ranks fifth in the European Union in terms of GDP per capita with €46,200, well above the EU average of €37,600. It accounts for 2.8% of the EU's total GDP.

Austria's economy is dependent on foreign trade, particularly with Germany

Austria is a major investor in the former Eastern European countries, with some 40% of all direct foreign investments in that part of the world coming from Austria. Trade with these countries accounts for almost 14% of Austrian imports and exports. Austrian firms have sizable investments in and continue to move labour-intensive, low-tech production to these countries.

Austria's international trade continued to grow in 2000, with Austrian exporters selling merchandise worth US$65.6 billion, up from US$62.9 billion in 1999. In 2022, the U.S. was the seventh-largest source of goods imports and the most important export destination outside Europe. U.S. exports of goods and services to Austria were $6.4 billion in 2022, up 28% from 2021, and imports from Austria were $19.4 billion, up 20.1% from 2021.

Austria trades with around 150 countries

In 2022, the US was the most important export destination for Austria outside of Europe, with US exports of goods and services to Austria totalling $6.4 billion. Most US exports to Austria are pharmaceutical products, organic chemicals, medical and optical products, machines and parts (including data processing equipment), and electric machinery. Services account for around 20% of the export total, led by financial services.

The EU accounts for about two-thirds of Austria's trade

Austria is also a major investor in the former Eastern European countries, with some 40% of all direct foreign investments in that part of the world coming from Austria. Trade with these countries accounts for almost 14% of Austrian imports and exports. Austrian firms have sizable investments in and continue to move labour-intensive, low-tech production to these countries.

The U.S. is Austria's most important export destination outside Europe. According to the U.S. Bureau for Economic Analysis, U.S. exports of goods and services to Austria were $6.4 billion in 2022, up 28% from 2021, and imports from Austria were $19.4 billion, up 20.1% from 2021. Most U.S. exports to Austria are pharmaceutical products, organic chemicals, medical and optical products, machines and parts (including data processing equipment), and electric machinery.

Austria is a major investor in former Eastern European countries

Austria's economy is dependent on foreign trade and is closely linked to the economies of other EU countries, particularly Germany. The European Union accounts for about two-thirds of Austria's total trade. Austria trades with some 150 countries, exporting a variety of goods and services, as well as money in the form of investments.

Austria is a major investor in the former Eastern European countries, with some 40% of all direct foreign investments in that part of the world coming from Austria. Austrian firms have sizable investments in these countries and continue to move labour-intensive, low-tech production there. Trade with these countries accounts for almost 14% of Austrian imports and exports.

In 1999, EU countries purchased 65% of Austria's exports, with Germany taking 36%, Italy 9%, and France 5%. In 2022, the U.S. was the seventh-largest source of goods imports for Austria and the most important export destination outside of Europe. U.S. exports of goods and services to Austria were $6.4 billion in 2022, up 28% from 2021, while imports from Austria were $19.4 billion, up 20.1% from 2021.

The US is Austria's most important export destination outside of Europe

Austria's economy is dependent on foreign trade and is closely linked to the economies of other EU countries, particularly Germany. In 1999, EU countries purchased 65% of Austria's exports, with Germany taking 36%, Italy 9%, and France 5%. The European Union accounts for about two-thirds of the total.

Austria trades with some 150 countries. Another important branch of Austria's foreign trade sector is transit trade for goods and services travelling east and west across Europe. Austrian exporters sold merchandise worth US$65.6 billion in 2000, up from US$62.9 billion in 1999. In 2000, Austria's international trade continued to grow.

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