Austria is achieving the first surplus of its trade balance in 16 years
Vienna on July 22/ WAM/ Austria recorded a surplus in its trade balance for the first time in 16 years after the surplus size last year reached about 1.7 billion euros, compared to a deficit of about 2 billion euros in 2023.
The latest official figures, issued by the Austrian Statistics Authority, showed Austria’s success in registering its first trade surplus since 2007, after the value of exports increased to about 191 billion euros, and imports recorded about 189.3 billion euros.
The positive improvement in Austria’s commercial balance is mainly due to the remarkable increase in exports of machinery, vehicles and pharmaceutical products, which dominate Austria’s foreign trade with the European Union and the third countries.
On the bilateral level, Austria has achieved its largest trade surplus with the United States with a value of 8.51 billion euros, after it became the second most important export partner for Austria last year after Germany, and exports to the United States increased by 10.1% on an annual basis to reach 16.23 billion euros, while imports decreased slightly by 2.6% declining to 7.72 billion euros.
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