Austria Balance of Trade

Last Release

Jan 31, 2022

Actual

-1,707

Units In

EUR Million

-1,661.5

Frequency

Monthly

Next Release

Dec 06, 2024

Time to Release

26 Days 7 Hours

Highest	Lowest	Average	Date Range	Source
581 Nov 2014	-1,775 Jun 2021	-301.15 EUR Million	1953-2022	Statistics Austria

Austria's economy is dependent on foreign trade and closely linked to the economies of other EU countries, particularly Germany. The major export commodity in Austria is the automobile and its components, machinery and paper products. Austria imports mainly machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products and foodstuffs.

Latest Updates

Austria posted a trade deficit of €0.56 billion in August 2024, larger than €97 million in the corresponding month of the previous year. This marks the widest trade shortfall since February 2023, as exports fell more than imports. Shipments slipped by 9.2% year-on-year to a three-year low of €13.4 billion, mainly due to lower exports of machinery and vehicles (-11.9%); manufactured goods (-11.4%) and processed goods (-5.3%). Meanwhile, imports declined by 6.1% to €14 billion, primarily due to reduced purchases of fuels and energy (-14.6%); chemical products (-9.4%) and machinery and vehicles group (-6.8%). "The decline in imports and exports is largely due to the fall in trade with Germany, Austria’s most important trading partner. Here, the value of imports fell by 8.7% year-on-year in August 2024, while exports to Germany fell by 6.3% ”said Statistics Austria Director General Tobias Thomas.