Austria's Trade: Exports And Imports Overview

Austria's economy is heavily dependent on foreign trade, with exports accounting for around 50% of its economic output. In 2023, Austrian exports totalled $204 billion, while imports totalled $214 billion. The country's top exports include cars, packaged medicaments, vaccines, motor vehicle parts and accessories, and nitrogen heterocyclic compounds. Austria's major export destinations include Germany, the United States, Italy, Switzerland, and Hungary. On the other hand, its top imports are cars, vaccines, refined petroleum, motor vehicle parts and accessories, and crude petroleum, mainly from Germany, China, Italy, Switzerland, and the Czech Republic.

Austria's top export destinations

Austria's main export destinations in 2023 were:

• Germany, which bought 28.6% of Austria's exports, worth $51 billion.
• The United States of America, which bought 7.1% of Austrian exports, worth $18.1 billion.
• Italy, which accounted for 6% of Austrian exports, worth $13.5 billion.
• Switzerland, which bought 5% of Austrian exports, worth $10.9 billion.
• Poland, which bought 3.7% of Austrian exports, worth $8.12 billion.
• Slovakia, which also bought 3.7% of Austrian exports, worth $7.85 billion.
• Belgium, which bought 3.6% of Austrian exports, worth $7.6 billion.
• France, which also bought 3.6% of Austrian exports, worth $7.83 billion.
• Hungary, which bought 3.5% of Austrian exports, worth $8.42 billion.
• The Czech Republic, which also bought 3.5% of Austrian exports, worth $7.76 billion.
• The United Kingdom, which bought 2.6% of Austrian exports, worth $5.88 billion.
• Mainland China, which also bought 2.4% of Austrian exports, worth $5.49 billion.

Austria's top import sources

Austria's import market is essential for supporting its high-quality manufacturing and robust service sectors. The country's top import sources are:

Germany

Germany has historically been Austria's main trading partner and continues to be its largest import source, accounting for 37.7% of all imports in 2023. Germany supplies Austria with a range of products, including machinery, vehicles, electrical machinery, and equipment.

Italy

Italy is the second-largest source of imports for Austria, contributing 6.1% of its total imports. Italian imports to Austria include machinery, electrical machinery, vehicles, pharmaceuticals, and plastics.

Switzerland

Switzerland is the third-largest source of imports for Austria, making up 5.2% of its total imports. Swiss imports to Austria include machinery, electrical machinery, vehicles, pharmaceutical products, and plastics.

China

Mainland China is another significant import source for Austria, accounting for 3.4% of its total imports. Chinese imports to Austria include machinery, vehicles, electrical machinery, mineral fuels, and plastics.

Czech Republic

The Czech Republic is also an important trading partner for Austria, contributing 4.7% of its total imports. Imports from the Czech Republic include machinery, vehicles, electrical machinery, iron and steel products, and optical, technical, and medical apparatus.

Austria's import market reflects its integrated role in European and global supply chains, and its strong ties with fellow European countries as a member of the European Union.

Austria's main export products

Other notable exports from Austria include plastics and plastic articles ($8.9 billion, 4%), mineral fuels including oil ($8 billion, 3.6%), articles of iron or steel ($7.7 billion, 3.4%), organic chemicals ($7.4 billion, 3.3%), and optical, technical, and medical apparatus ($6 billion, 2.7%).

In terms of specific products, blood fractions, including antisera, medication mixes in dosage, and heterocyclics and nucleic acids are among the most valuable exported goods from Austria. Automobile parts and accessories, smartphones, and non-alcoholic beverages (excluding water, juice, and milk) are also significant exports for the country.

Austria's exports are heavily focused on the European market, with 79.4% of its exports by value delivered to fellow European countries. Germany is Austria's top trading partner, receiving 28.6% of its exports, followed by the United States (7.1%), Italy (6%), Switzerland (5%), and Poland (3.7%).

Austria's main import products

Cars were the leading import category, with a value of $11.6 billion. This was followed by vaccines, blood, antisera, toxins, and cultures at $6.32 billion, and refined petroleum at $5.59 billion. Motor vehicle parts and accessories, as well as crude petroleum, also contributed significantly to the country's import value, at $5.24 billion and $4.62 billion, respectively.

Other notable imports to Austria in 2023 included pharmaceutical products (5.14% of total imports), plastics and articles thereof (3.78%), and articles of iron or steel (2.95%). Additionally, the country imported a significant amount of organic chemicals (2.95%), optical, photographic, cinematographic, measuring, checking, precision, medical, or surgical instruments and apparatus (2.71%), and iron and steel (2.34%).

It is worth noting that Germany, China, Italy, Switzerland, and the Czech Republic were the top import sources for Austria in 2023, with Germany alone accounting for 31% of the country's total imports.

Austria's exports and imports by value

Austria's exports and imports are heavily influenced by its surrounding European neighbours, with Germany being its main trading partner. In 2023, Austria exported goods worth $223.9 billion, a 9.9% increase from 2022. The top exports from Austria include machinery (including computers), electrical machinery and equipment, vehicles, pharmaceuticals, iron and steel, plastics, mineral fuels (including oil), and organic chemicals. These exports are dominated by sales to Germany, the USA, Italy, Switzerland, and Poland, with 79.4% of exports going to Europe.

The export of goods from Austria is heavily focused on machinery and vehicles, with these categories making up a large proportion of the country's international sales. This includes computers, smartphones, heavy machinery, and vehicle parts and accessories. The pharmaceutical industry is also a significant exporter, with packaged medications and vaccines contributing substantially to Austria's trade.

In 2023, the total value of Austria's merchandise exports was $216 billion, a 2.8% increase from 2022. The top export commodities include nuclear reactors, boilers, machinery, vehicles, electrical machinery and equipment, pharmaceutical products, iron and steel, plastics, mineral fuels, and organic chemicals. Germany, the USA, Italy, Switzerland, and Belgium are the top five importers of Austrian goods.

Austria's imports reflect its industrial and technological strengths, with a focus on machinery, vehicles, and electrical equipment. In 2023, Austria imported goods worth $219 billion, a decrease of 5.53% from 2022. The top import commodities include nuclear reactors, boilers, machinery, vehicles, electrical machinery and equipment, mineral fuels (including petroleum oils and gases), pharmaceutical products, plastics, iron and steel, and organic chemicals. The majority of these imports come from Germany, China, Italy, Switzerland, and the Czech Republic.

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