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Austrian exports to U.S. increase sharply in 2014

Xinhua, March 25, 2015 Adjust font size:

The Austrian export industry benefited from the American economic recovery with exports to the United States increasing 10 percent in 2014, reaching an all-time high of 8.5 billion U.S. dollars in 2014.

The figures were presented at a press conference Tuesday by economic delegate from the Austrian Economic Chambers (WKO) Michael Friedl, who is based at the WKO Foreign Trade Center (AussenwirtschaftsCenter) in New York.

The weaker euro is the main reason for the positive figures but not the only one, Friedl said, with the trend beginning before the devaluation of the euro. He said Austrian products are also in demand due to having high quality and a niche character.

The industrial sector in particular is well-positioned, he added, with Austrian car suppliers benefiting from a resurgence in the U.S. auto industry.

Food and wine exporters are also doing very well and can look forward to further export growth, he said.

In contrast Austria imported 4.9 billion U.S. dollars worth of goods from the United States in 2014, creating a positive trade balance of 3.6 billion U.S. dollars, Friedl said. Endit