Austria’s exports fell significantly in November

Exports fell by 14.7 percent to 16.32 billion euros compared to the same month of the previous year, while imports fell by a smaller amount, by 3.9 percent to 16.51 billion euros. The foreign trade deficit thus amounted to 0.19 billion euros.

The decline in trade with Germany in particular weighed on the foreign trade balance.

“Exports to Germany shrank by 3.4 percent in November, the seventh decline in the first eleven months of 2024. Imports from Germany fell for the ninth time in November 2024, this time by 3.3 percent,” said Tobias Thomas, Director General of Statistics Austria.

Austria exported goods worth 11.08 billion euros to the EU as a whole, which is 18.1 percent less than in November of the previous year. Imports, however, fell by only 2.1 percent to 10.82 billion euros. The foreign trade surplus was thus 0.26 billion euros.

In contrast, Austria has a deficit of 0.45 billion euros with third countries. Exports fell by 6.6 percent to 5.24 billion euros, and imports by 7.1 percent to 5.69 billion euros.

The largest decrease in value occurred in exports of chemical products, by 40.5 percent to 1.93 billion euros. This was followed by exports of machinery and vehicles by 9.7 percent to 0.65 billion euros. In contrast, there was a 4.4 percent increase in food exports to €0.05 billion, and a 40.2 percent increase in the “other goods” category to €0.09 billion.