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Austrian foreign trade sees continued upswing through May

Xinhua, August 10, 2016 Adjust font size:

Austrian foreign trade has seen a continued upswing in May with trade with other European Union (EU) member states in particular flourishing, Statistics Austria said on Tuesday.

The statistics office said imports have now increased one percent for the first five months of the year to 54.8 billion euros (60.9 billion U.S. dollars), while exports increased 1.1 percent to reach 53.7 billion euros (59.7 billion U.S. dollars).

This has in turn allowed the foreign trade deficit to see a slight drop from January to May from 1.13 billion euros down to 1.11 billion euros.

The majority of trade again took place with other EU member states, from whom Austria imported 38.9 billion euros worth of goods, a 2.5 percent increase, and to whom it exported goods worth 37.4 billion euros, a 1.9 percent increase.

Trade with Britain in particular saw a significant boost, with imports in the first five months of the year, prior to the Brexit vote, up 12.3 percent to nearly 1.1 billion euros, and exports up 2.8 percent to 1.7 billion euros. (1 euro=1.11 U.S. dollar) Endit