About

Overview In 2022, Austria was the number 32 economy in the world in terms of GDP (current US$), the number 32 in total exports, the number 29 in total imports, the number 17 economy in terms of GDP per capita (current US$) and the number 8 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Austria are Cars ($7.72B), Packaged Medicaments ($7.25B), Vaccines, blood, antisera, toxins and cultures ($6.76B), Electricity ($5.38B), and Motor vehicles; parts and accessories (8701 to 8705) ($4.97B), exporting mostly to Germany ($57.7B), United States ($14.4B), Italy ($13.6B), Switzerland ($11.2B), and Hungary ($10.4B).

In 2022, Austria was the world's biggest exporter of Flavored Water ($3.58B), Unprocessed Artificial Staple Fibers ($973M), Iron Railway Products ($627M), Cigarette Paper ($467M), and Handguns ($427M)

Imports The top imports of Austria are Cars ($8.75B), Refined Petroleum ($8.25B), Gold ($7.27B), Broadcasting Equipment ($5.83B), and Electricity ($5.67B), importing mostly from Germany ($86.5B), Italy ($15B), Czechia ($10.9B), Switzerland ($10.8B), and Netherlands ($9.65B).

In 2022, Austria was the world's biggest importer of Slag Dross ($116M) and Human Hair ($15.1M)

Location Austria borders Czechia, Germany, Hungary, Italy, Slovakia, Slovenia, and Switzerland by land.

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Austria.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
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Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

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Depth
Top Export (2022)Cars$7.72B
Top Destination (2022)Germany$57.7B

In 2022, Austria exported a total of $209B, making it the number 32 exporter in the world. During the last five reported years the exports of Austria have changed by $49.4B from $159B in 2017 to $209B in 2022.

The most recent exports are led by Cars ($7.72B), Packaged Medicaments ($7.25B), Vaccines, blood, antisera, toxins and cultures ($6.76B), Electricity ($5.38B), and Motor vehicles; parts and accessories (8701 to 8705) ($4.97B). The most common destination for the exports of Austria are Germany ($57.7B), United States ($14.4B), Italy ($13.6B), Switzerland ($11.2B), and Hungary ($10.4B).

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Exports (2022)
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Destinations (2022)
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Market Growth

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Fastest Growing Export Markets (2021 - 2022)
Slovakia$3.75B (+ 103%)
Hungary$2.48B (+ 31.6%)
Germany$2.24B (+ 4.03%)
Fastest Growing Import Markets (2021 - 2022)
Germany$7.95B (+ 10.1%)
Netherlands$2.11B (+ 28.1%)
Italy$1.44B (+ 10.6%)

Total Export Growth by Market (2021 - 2022)

Service Trade

Service Trade

Austria Exports Services (2020)$52.8B
Austria Imports Services (2020)$44.9B

In 2020, Austria exported $52.8B worth of services. The top services exported by Austria in 2020 were Miscellaneous business, professional, and technical services ($14.1B), Other transport ($12.2B), Personal travel ($11.8B), Business travel ($2.09B), and Air transport ($2.05B).

The top services imported by Austria in 2020 were Miscellaneous business, professional, and technical services ($14.6B), Other transport ($12.7B), Personal travel ($3.47B), Merchanting and other trade-related services ($1.57B), and Sea transport ($1.54B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)1.5Rank 8 of 133
Economic Complexity (Technology)1.5Rank 3 of 96
Economic Complexity (Research)1.69Rank 16 of 135

Most Specialized Products by RCA Index

Austria has a high level of specialization in Handguns (30.6), Railway Maintenance Vehicles (29.2), Unprocessed Artificial Staple Fibers (28.9), Molybdenum (25.9), and Cigarette Paper (20.5). Specialization is measured using RCA, an index that takes the ratio between Austria observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Austria according to the relatedness index, were Newspapers (0.46), Rock Wool (0.45), Vegetable Parchment (0.45), Railroad Ties (0.45), and Dairy Machinery (0.45). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Austria is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Austria. These are products that tend to be co-exported with the products that Austria exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Austria's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨9th to the 8th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

ECI (Trade) Ranking by Country

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