Austria (AUT) and Russia (RUS) Trade | The Observatory of Economic Complexity

About

Austria-Russia Trade: In 2023, Austria exported $1.34B to Russia. The main products that Austria exported to Russia were Packaged Medicaments ($447M), Vaccines, blood, antisera, toxins and cultures ($150M), and Chocolate ($53.1M). Over the past 5 years the exports of Austria to Russia have decreased at an annualized rate of 11.3%, from $2.44B in 2018 to $1.34B in 2023.

In 2020, Austria exported services to Russia worth $1.06B, with Transportation ($483M), Other business services ($171M), and Computer and information services ($167M) being the largest in terms of value.

Russia-Austria Trade: In 2023, Russia exported $264M to Austria. The main products that Russia exported to Austria were Coal Briquettes ($91.2M), Raw Aluminium ($43M), and Ferroalloys ($24.6M). Over the past 5 years the exports of Russia to Austria have decreased at an annualized rate of 16.8%, from $958M in 2018 to $264M in 2023.

In 2020, Russia exported services to Austria worth $385M, with Other business services ($182M), Transportation ($102M), and Financial services ($42.3M) being the largest in terms of value.

Comparison: In 2023, Austria ranked 8 in the Economic Complexity Index (ECI 1.56), and 31 in total exports ($204B). That same year, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Austria exported $1.34B to Russia. The main products exported from Austria to Russia were Packaged Medicaments ($447M), Vaccines, blood, antisera, toxins and cultures ($150M), and Chocolate ($53.1M). During the last 5 years the exports of Austria to Russia have decreased at an annualized rate of 11.3%, from $2.44B in 2018 to $1.34B in 2023.

In 2018, Russia exported $264M to Austria. The main products exported from Russia to Austria were Coal Briquettes ($91.2M), Raw Aluminium ($43M), and Ferroalloys ($24.6M). During the last 5 years the exports of Russia to Austria have decreased at an annualized rate of 16.8%, from $958M in 2023 to $264M in 2018.

Exports from Austria () to Russia () (2023)

Exports from Russia () to Austria () (2023)

Latest Data

Trade between Austria () and Russia ()

Austria Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Austria
Top DestinationGermany$51B

Russia
Top DestinationChina$129B

This map shows whether countries import more from Austria or Russia. Each country is colored based on the difference in imports they receive from Austria and Russia or the difference in the growth in imports.

In 2023, countries that imported more from Austria than Russia included Germany ($51B), United States ($18.1B), and Italy ($13.5B).

In 2023, countries that imported more from Russia than Austria included China ($129B), India ($66.1B), and Turkey ($31B).

Difference in imports from Russia () and Austria () (2023)

Comparative Advantage Austria - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Austria and Russia by product, considering products traded by both, Austria and Russia.

During 2023, Austria had a large net trade with Russia in the exports of Chemical Products ($653M), Machines ($242M), and Foodstuffs ($198M).

During 2018, Russia had a large net trade with Austria in the exports of Mineral Products ($116M), Metals ($93.2M), and Chemical Products ($23.7M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Austria Russia+$114MPackaged Medicaments

Top Product Potential Russia Austria+$112MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

Rus Year

Aut Year

In 2020, Austria exported services to Russia worth $1.06B, with Transportation ($483M), Other business services ($171M), and Computer and information services ($167M) being the largest in terms of value.

In 2020, Russia exported services to Austria worth $385M, with Other business services ($182M), Transportation ($102M), and Financial services ($42.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Austria () to Russia () (2020)

Services Exports from Russia () to Austria () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Austria and Russia. This means that a dot/product with the flag of Austria indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Austria.

About

Historical Data

Bilateral Trade by Products

Exports from Austria () to Russia () (2023)

Exports from Russia () to Austria () (2023)

Latest Data

Trade between Austria () and Russia ()

Austria Exports

Russia Exports

Market Competitiveness

Difference in imports from Russia () and Austria () (2023)

Comparative Advantage Austria - Russia

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Bilateral Service Trade

Services Exports from Austria () to Russia () (2020)

Services Exports from Russia () to Austria () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Austria () and Russia () (2023)

Keep Exploring