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Austria's foreign trade grows in Q1

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Christian Fernsby |
European economies   Imports up to March increased 4.7 percent year-over-year

Austrian foreign trade grew in the first quarter of the year with increase in both imports and exports, Statistics Austria revealed.

Imports up to March increased 4.7 percent year-over-year to a total of 40.19 billion euros (45.66 billion U.S. dollars), while exports increased 4.4 percent to 39.08 billion euros, leaving a trade deficit of just over a billion euros.

Both imports and exports to fellow European Union member states made up almost three-quarters of the total trade, up three percent and five percent respectively.

Exports to France in particular saw a notable boost of 21.9 percent to reach 2.18 billion euros in value.

Overall, however, a small deficit of 250 million euros was recorded in trade with these nations.

Trade with countries outside of the European bloc also flourished, with imports up 8.9 percent to 12.21 billion euros, and exports up three percent to 11.34 billion euros.

The three most significant export markets among these countries were the U.S., with exports up 2.9 percent to 2.57 billion euros, followed by Switzerland, up 5.4 percent to 1.87 billion euros, and China, up 14.6 percent to 1.03 billion euros.

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