Austrian Exports: Commodities And Specialties

Austria has a highly developed social market economy and is one of the world's richest countries in terms of GDP per capita. The country's top exports include cars, packaged medicaments, vaccines, electricity, and motor vehicle parts and accessories. In 2022, Austria was the world's biggest exporter of flavoured water, unprocessed artificial staple fibres, and iron railway products. In addition to these products, Austria also exports agricultural commodities such as sugar beet, maize, wheat, and potatoes. The country's economic growth has been influenced by its membership in the European Union, attracting foreign investors and enhancing its international competitiveness.

Austria's exports of agricultural commodities

Austria has successfully promoted exports of higher-valued foods and beverages in large and distant markets. The country exports fresh produce, such as beef, pork, poultry, and dairy, to its neighbouring countries. However, it has also established itself as a renowned exporter of wine, with the US being the third most important market after Germany and Switzerland. Other popular Austrian export products to the US include energy drinks, cheeses, chocolates, fruit juices, pumpkin seed oil, pastries, and jams.

Cereals are another notable agricultural export from Austria. The country has transformed from being a net importer of cereals in the early '80s to a net exporter since the late '80s. This development places Austria on par with traditional agricultural exporting countries within the European Union, such as France, Denmark, and the Netherlands.

In addition to its agricultural exports, Austria has a diverse range of commodity exports. Refined petroleum, sawn wood, gold, particleboard, and petroleum gas are among the country's top commodity exports. Austria also has a significant trade in non-commodity goods, with cars, packaged medicaments, vehicle parts, and bottled water being notable examples.

The country's economic growth is further evidenced by its ranking as the world's 26th largest economy in terms of GDP, with annual exports totalling $176 billion. Germany, the United States, Italy, Switzerland, and France are Austria's top export destinations.

Energy products from Austria

Austria's energy industry is diverse, with a range of sources contributing to the country's electricity production and consumption. The country has set ambitious targets for renewable energy and carbon neutrality, aiming to become a leader in sustainable energy. Here is an overview of Austria's energy products and their role in the country's economy and future plans:

Hydropower:

Hydropower is a key energy source for Austria, with the country relying heavily on it for electricity production. In 2021, hydropower accounted for 54% of Austria's total installed power generation capacity and 58% of total power generation. The country operates over 3,000 hydropower plants, including storage power plants in the Austrian Alps and run-of-river power plants on major rivers. In 2023, hydropower accounted for up to 67% of the electricity generated in Austria, making it the most significant source of electricity.

Renewable Energy Sources:

Austria has made significant strides towards increasing its renewable energy capacity. In 2023, renewable energy sources, including hydropower, wind, and solar, made up 87% of the country's total electricity generation. The Austrian government has set a target of achieving 100% renewable electricity by 2030, with an intermediate goal of 34% by 2020. To meet these targets, Austria plans to add more renewable power sources, such as solar and wind energy.

Solar Energy:

Solar energy is an important component of Austria's renewable energy strategy. In 2022, photovoltaic systems contributed almost 6% to domestic electricity production, with a capacity of 3,792 MW. To meet the 2030 renewable energy targets, Austria aims to add an additional 10.5 GW of solar photovoltaic capacity between 2022 and 2030. Some states have ambitious plans to double wind power capacity by expanding existing wind parks and building new ones.

Wind Energy:

Wind power capacity in Austria has been steadily increasing over the years. From 77 MW in 2000, it grew to 3,105 MW in 2020 and further to 3,573 MW in 2023. Wind energy plays a crucial role in the country's renewable energy mix and is expected to continue growing to achieve the 2030 targets.

Biomass:

Biomass is another significant contributor to Austria's renewable energy portfolio, providing over 18% of the country's electricity capacity. This diverse range of renewable energy sources, including solar, wind, and biomass, showcases Austria's commitment to transitioning to cleaner and more sustainable energy sources.

Fossil Fuels:

While Austria is moving towards renewable energy, fossil fuels still play a role in the country's energy mix. Imported oil accounted for 35.4% of energy consumed in 2022, while gas accounted for 16.8%. However, the country is taking steps to reduce its reliance on fossil fuels, including plans to phase out oil and coal heating systems by 2035 and transitioning away from coal in the industry.

In conclusion, Austria's energy products landscape is diverse and dynamic, with a strong focus on renewable sources. The country's commitment to carbon neutrality and self-sufficiency in energy is driving innovation and collaboration in the energy sector. With established hydropower infrastructure and growing renewable energy sources, Austria is well on its way to achieving its ambitious renewable energy targets.

Austrian metal exports

Austria's metal exports are a significant contributor to the country's economy, with the metal-working technology industry alone accounting for 21% of overall Austrian foreign trade. In 2023, the production volume of iron and steel castings exceeded 138,000 tons, and the industry employed over 15,000 people. The Austrian steel industry's key data for 2021 revealed a production value of EUR 523.4 million for cast iron and cast steel, while the export value of total production was substantial.

One of the critical sales markets for Austrian metal exports is Germany, which is also Austria's biggest trade partner for both exports and imports. In 2022, Austria exported expanded metal, iron, or steel worth $821,420 to Germany, weighing 215,926 kg. These exports to Germany accounted for the second-largest destination for such products, after Luxembourg.

Austria's exports of expanded metal, iron, or steel to the United States, another vital market, were valued at $119,650, with a weight of 2,659 kg. Additionally, Austria's metal exports to Portugal and Qatar in 2022 were significant, with values of $278,340 and $113,520, respectively.

Austria's metal exports are not limited to iron and steel. The country's aluminium industry is also notable, with key data from 2021 revealing insights into its economic impact. Furthermore, Austria's production and consumption of electricity play a role in the metal exports sector, as seen in the production and price charts for 2018-2024.

Austrian exports of vehicles and parts

Austria exported $223.9 billion worth of goods in 2023, with vehicles and parts contributing significantly to this figure. In fact, vehicles alone accounted for $22.1 billion (9.9%) of Austria's total exports in 2023. When including vehicle parts, this figure rises even further.

In 2022, Austria exported $209 billion worth of goods globally, with motor vehicles, parts, and accessories (8701 to 8705) making up $4.97 billion of these exports. This made motor vehicles and parts the fifth largest export category for Austria in 2022.

In 2023, automobile parts and accessories were among the 100 most valuable exported goods from Austria, although the exact figure for this category is not available. However, in 2022, automobile parts and accessories were Austria's fourth most valuable exported product, contributing 2.4% to the country's total exports.

Austria's exports of vehicles and parts are closely linked to its imports in the same category. In 2022, Austria imported $5.36 billion worth of vehicle parts and $8.75 billion worth of cars. This trade in vehicles and parts is essential for Austria's economy and contributes to its position as the 32nd largest economy in the world in terms of GDP.

Imports of commodities to Austria

Austria's imports totalled $219 billion in 2023, a decrease of 5.53% compared to 2022. The country's top trading partners for imports in 2023 were:

• Germany (31%, or $68 billion)
• China (7.45%, or $16.3 billion)
• Italy (6.36%, or $13.9 billion)
• Switzerland (5.71%, or $12.5 billion)
• Czech Republic (4.14%, or $9.08 billion)
• The USA (3.9%, or $8.54 billion)
• Poland (3.22%, or $7.06 billion)
• The Netherlands (2.69%, or $5.9 billion)
• France (2.6%, or $5.71 billion)

Austria's top imports in 2023 were:

• Motor cars and other motor vehicles (5.32%, or $11.6 billion)
• Human blood, animal blood, antisera, vaccines, etc. (2.79%, or $6.12 billion)
• Parts and accessories for motor vehicles (2.64%, or $5.79 billion)
• Petroleum oils and oils from bituminous minerals (2.6%, or $5.71 billion)
• Petroleum gases and other gaseous hydrocarbons (2.48%, or $5.44 billion)
• Crude petroleum oils and oils from bituminous minerals (2.18%, or $4.79 billion)
• Medicaments (2.02%, or $4.44 billion)
• Hormones, prostaglandins, thromboxanes, leukotrienes, and derivatives (1.64%, or $3.59 billion)
• Gold (1.61%, or $3.53 billion)
• Electrical apparatus for line telephony or telegraphy (1.45%, or $3.19 billion)

Frequently asked questions