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Austria's trade deficit shrinks significantly in 2014

Xinhua, March 12, 2015 Adjust font size:

Austria's trade deficit amounted to 1.97 billion dollars in 2014, registering a significant decrease compared with 5.18 billion U.S. dollar in 2013, figures released by Statistic Austria show on Wednesday.

The volume of Austrian exports in 2014 increased 1.7 percent to 134.6 billion dollars, while imports sank 0.8 percent to 136.57 billion dollars, according to the figures.

About 80 percent of Austrian exports went to European countries, and almost 70 percent to within the European Union. Germany and Italy are the two most important trade partners, to whom 29.8 percent and 6.4 percent of Austria's exports went respectively.

The remaining 20 percent of Austria's exports went to Asia (9.5 percent), America (8.6 percent), Africa (1.3 percent), and Australia and Oceania (0.7 percent).

Trade with the EU resulted into a total 4.7 billion dollar deficit, albeit down from 6.8 billion dollars in 2013.

Austria's trade with non-EU countries contributed a surplus of 2.79 billion dollars. Endit