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In 2020, Austria exported items worth 168.5 billion dollars around the world. This figure represents a 16.5 percent increase from 2016, but a minus 1.7 percent drop from 2019 to 2020.
Using a continental perspective, Austria's exports were supplied to fellow European countries for almost 80 percent of their value, while 9.4 percent were sold to Asian buyers. Austria exported 7.7 percent of its total exports to North America.
Africa got 1.2 percent, Oceania got 0.8 percent, and Latin America got without Mexico but the Caribbean received a smaller percentage of 0.9 percent.
Austria's Top Trading Partners
The following is a list of 15 of Austria's most important trading partners, the countries that imported the most Austrian shipments in terms of dollar value in 2020.
The percentage of total Austrian exports for each import nation is also indicated.
Germany: with 50.3 billion dollars is responsible for 29.9 percent of Austria's total exports
The United States with 10.4 billion dollars accounts for 6.2
Italy with 10.3 billion dollars is responsible for 6.1 percent
Switzerland with 9 billion dollars accounts for 5.4 percent
France with 7 billion dollars accounts for 4.2 percent
Slovakia with 6.9 billion dollars accounts for 4.1 percent
Poland with 6.4 billion dollars accounts for 3.8 percent
The Czech Republic with 5.7 billion is responsible for 3.4 percent
Hungary with 5.7 billion dollars accounts for 3.4 percent
The United Kingdom with 4.6 billion dollars accounts for 2.8 percent
China with 4.6 billion dollars accounts for 2.7 percent
The Netherlands with 3.3 billion dollars is responsible for 2 percent
Slovenia with 3.2 billion dollars accounts for 1.9 percent
Belgium with 3 billion dollars accounts for 1.8 percent
Romania with 2.9 billion dollars accounts for 1.7 percent
In 2022, the previously mentioned 15 trading partners will account for about four-fifths or 79.1 percent of Austrian exports.
Slovakia went up by 94.6 percent, Poland was up by 11.3 percent, and Switzerland was the fastest-growing top buyer of Austrian exports from 2019 to 2021 moving up by 5.2 percent.
Slovenia went down by minus 9.5 percent, the United States was down by minus 8.7 percent, and China was the top decliners year over a year down by minus 7.8 percent.
Austria's Top Imports
In 2020, Austria bought items worth 172.2 billion dollars from all over the world.
Since 2016, the cost of Austrian imports has increased by 14.8 percent but has fallen by minus 2.5 percent between 2019 and 2020.
Austria utilizes the euro, which has risen by 2 percent against the US dollar since 2016 and increased by 3.1 percent from 2019 to 2020, according to the average exchange rate.
In 2020, Austria's imports paid in weaker US dollars were considerably less expensive as compared to imports paid in euros.
From a continental viewpoint, other European nations accounted for 86.1 percent of Austria's total imports by value in 2020.
10.8 percent of Austria's imports were from Asian partners, while 2.3 percent came from North America.
Africa got 0.5 percent, Latin America had 0.2 percent excluding Mexico and the Caribbean with 0.2 percent, and Oceania with 0.1 percent, led by Australia and New Zealand, all had lower percentages.
Given Austria's population of 8.9 million people, the country's total 172.2 billion dollars in 2020 imports equates to around 19,200 dollars in annual product demand from each of the country's 8.9 million residents.
The following product groupings account for the majority of Austria's import purchases in 2020.
The percentage share of each product category in terms of total imports into Austria is also given.
Machinery including computers: With 22.8 billion dollars accounts for 13.3 percent of total imports
Electrical machinery, and equipment accounts for 20.2 billion dollars which stands at 11.7 percent
Vehicles: With 17.8 billion dollars accounts for 10.3 percent
Mineral fuels including oil stand at 9.4 billion dollars which represents 5.5 percent
Pharmaceuticals with 8 billion dollars account for 4.6 percent
Plastics, plastic articles account for 7.3 billion dollars which is 4.2 percent
Articles of iron or steel stand at 5 billion dollars which is 2.9 percent
Optical, technical, and medical apparatus: With 4.9 billion dollars account for 2.8 percent
Organic chemicals account for 4.6 billion dollars which are 2.7 percent
Furniture, bedding, lighting, signs, and prefabricated buildings account for 3. 8 billion dollars which are 2.2 percent
Austria's top ten imports account for three-fifths of the total value of its product purchases from foreign nations which are 60.5 percent.
Electrical machinery and equipment grew the most in value among the top ten import categories, rising 15.3 percent between 2019 and 2020.
Pharmaceuticals which went up by 4.3 percent came in second for Austria's growing import purchases, followed by optical, technological, and medical device imports which were up by 2.5 percent.
Mineral fuels, including oil, were the most severe decliner among Austria's top imported product categories, with a minus 31.3 percent loss year over year.
Austria's Top Exports
The Republic of Austria, a landlocked Central European country surrounded by Germany, Hungary, Slovakia, Slovenia, Italy, Switzerland, and Liechtenstein, exported 168.5 billion dollars in goods around the world in 2020.
This figure represents a 16.5 percent increase from 2016, but a minus 1.7 percent drop from 2019 to 2020.
Austria utilizes the euro, which has risen by 2 percent against the US dollar since 2016 and increased by 3.1 percent from 2019 to 2020, according to the average exchange rate.
In comparison to 2019, Austria's exports paid for in weaker US dollars were relatively more expensive for overseas customers in 2020 due to the stronger EU currency.
According to the most recent available country-specific data, importers in Germany account for 29.9 percent of the global total, the United States for 6.2 percent, Italy for 6.1 percent, Switzerland for 5.4 percent, France for 4.2 percent, Slovakia for 4.1 percent, Poland with 3.8 percent, the Czech Republic with 3.4 percent, Hungary with 3.4 percent, the United Kingdom with 2.8 percent, China with 2.7 percent, and the Netherlands with 2.7 percent purchased 73.8 percent of Austrian exports.
On a continental scale, Austria's exports were delivered to fellow European countries for 80 percent of their value, while 9.4 percent were sold to Asian importers.
Austria exported 7.7 percent of its total exports to North America.
Africa got 1.2 percent, Oceania got 0.8 percent, and Latin America without Mexico but including the Caribbean received smaller percentages of about 0.9 percent.
Austria's entire 168.5 billion dollars in 2020 exports equates to around 18,900 dollars for every citizen of the Central European country, based on its population of 8.9 million people.
In terms of dollar value, the following export product groups will account for the majority of Austrian global shipments in 2020.
The percentage share of each export category in terms of total Austrian exports is also shown.
Machinery including computers accounts for 28.9 billion dollars which is 17.2 percent of total exports
Electrical machinery, and equipment accounts for 18.9 billion dollars which is 11.2 percent
Vehicles account for 16.4 billion dollars standing at 9.7 percent
Pharmaceuticals account for 11.8 billion dollars which is 7 percent
Plastics, plastic articles stand at 7.5 billion dollars which is 4.4 percent
Iron, and steel account for 5.8 billion dollars which is 3.5 percent
Wood account for 5.3 billion dollars which is 3.1 percent
Articles of iron or steel which is 5.2 billion dollars which is 3.1 percent
Optical, technical, and medical apparatus accounts for 4.8 billion dollars which is 2.9 percent
Paper and paper items stand at 4.5 billion dollars accounting for 2.7 percent.
Austria's top ten exports accounted for nearly two-thirds of the total value of its global shipments or 64.7 percent.
Electrical machinery and equipment grew the fastest among the top ten export categories, increasing by 16.4 percent from 2019 to 2020.
Wood came up by 6.1 percent and pharmaceuticals which went up by 6.1 percent were the only other two top categories to grow going up by 4.6 percent.
With a minus, 17.8 percent reduction year over year, iron and steel was the largest decliner among Austria's top 10 export categories.
SOURCES:
https://www.worldstopexports.com/austrias-top-15-import-partners/
https://www.worldstopexports.com/austrias-top-10-exports/
https://www.worldstopexports.com/austrias-top-10-imports/
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