Flag Austria

2019
Economic
Complexity
: 1.65, Rank 9 of 157

2019
Product
Exports | Imports
: $172B | $175B, 31 of 225 |  28 of 225

2019
Per Capita Product
Exports | Imports
: $19.3k | $19.7k, 12 of 219 |  49 of 219

2017
Service
Exports | Imports
: $59.6B | $49.3B, 24 of 139 | 25 of 139

Overview: In 2019 Austria was the number 27 economy in the world in terms of GDP (current US$), the number 31 in total exports, the number 28 in total imports, the number 15 economy in terms of GDP per capita (current US$) and the number 9 most complex economy according to the Economic Complexity Index (ECI)

Exports: The top exports of Austria are Cars ($8.78B), Packaged Medicaments ($6.11B), Vehicle Parts ($4.95B), Blood, antisera, vaccines, toxins and cultures ($4.94B), and Flavored Water ($2.8B), exporting mostly to Germany ($48.4B), United States ($11.7B), Italy ($11B), Switzerland ($8.51B), and France ($7.39B).

In 2019, Austria was the world's biggest exporter of Flavored Water ($2.8B), Unprocessed Artificial Staple Fibers ($956M), Iron Railway Products ($520M), Cigarette Paper ($458M), and Railway Maintenance Vehicles ($294M)

Imports: The top imports of Austria are Cars ($9.35B), Vehicle Parts ($5.32B), Broadcasting Equipment ($4.4B), Refined Petroleum ($4.02B), and Packaged Medicaments ($3.59B), importing mostly from Germany ($67.5B), Italy ($11.7B), Czechia ($8.45B), China ($6.58B), and Switzerland ($6.54B).

In 2019, Austria was the world's biggest importer of Hormones ($3.12B), Electric Locomotives ($179M), Slag Dross ($131M), Zinc Bars ($36.9M)

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

Yearly Exports

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Value
Depth

Top Export (2019): Cars, $8.78B

Top Destination (2019): Germany, $48.4B

In 2019, Austria exported a total of $172B, making it the number 31 exporter in the world. During the last five reported years the exports of Austria have changed by -$215M from $172B in 2014 to $172B in 2019.

The most recent exports are led by Cars ($8.78B), Packaged Medicaments ($6.11B), Vehicle Parts ($4.95B), Blood, antisera, vaccines, toxins and cultures ($4.94B), and Flavored Water ($2.8B). The most common destination for the exports of Austria are Germany ($48.4B), United States ($11.7B), Italy ($11B), Switzerland ($8.51B), and France ($7.39B).

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Yearly Imports

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Value
Depth

Top Import (2019): Cars, $9.35B

Top Origin (2019): Germany, $67.5B

In 2019 Austria imported $175B, making it the number 28 trade destination in the world. During the last five reported years the imports of Austria changed by $2.86B from $172B in 2014 to $175B in 2019.

The most recent imports of Austria are led by Cars ($9.35B), Vehicle Parts ($5.32B), Broadcasting Equipment ($4.4B), Refined Petroleum ($4.02B), and Packaged Medicaments ($3.59B). The most common import partners for Austria are Germany ($67.5B), Italy ($11.7B), Czechia ($8.45B), China ($6.58B), and Switzerland ($6.54B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Austria Exports Services (2017): $59.6B

Austria Imports Services (2017): $49.3B

In 2017, Austria exported $59.6B worth of services. The top services exported by Austria in 2017 were Travel ($20.4B), Transportation ($15.8B), Miscellaneous business, professional, and technical services ($12.1B), Computer and information services ($6.57B), and Royalties and license fees ($1.2B).

The top services imported by Austria in 2017 were Transportation ($16.1B), Miscellaneous business, professional, and technical services ($11.9B), Travel ($10.5B), Computer and information services ($5.08B), and Royalties and license fees ($1.66B).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Austria are Sugar beet (178%) and Whey (173%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Austria are:
109: Caribbean Forum (CARIFORUM) - European Union Economic Partnership Agreements (EPA)
119: Customs Union between EU and Turkey
121: Economic Partnership Agreement (EPA) between the EU and the Southern African Development Community (SADC) EPA Group
122: EU preferential tariff for sugar producing countries
123: European Union Generalized System of Preference
124: European Union GSP for Least Developed Countries
136: Most Favoured Nation duty rate treatement
160: Preferential tariff for Albania
161: Preferential tariff for Algeria
162: Preferential tariff for Andorra
172: Preferential tariff for Bosnia and Herzegovina
177: Preferential tariff for Cameroon
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado ComΓΊn Centroamericano MCCA) Central American Integration System SICA
182: Preferential tariff for Chile
189: Preferential tariff for Colombia
205: Preferential tariff for Ecuador
206: Preferential tariff for Egypt
209: Preferential tariff for EPA countries
218: Preferential tariff for European Union countries
222: Preferential tariff for Faroe Islands
223: Preferential tariff for Fiji
224: Preferential tariff for for occupied Palestinian territory
226: Preferential tariff for Georgia
227: Preferential tariff for Ghana
238: Preferential tariff for Iceland
239: Preferential tariff for India
244: Preferential tariff for Israel
247: Preferential tariff for Jordan
249: Preferential tariff for Korea, Republic of
255: Preferential tariff for Lebanon
258: Preferential tariff for Liechtenstein
262: Preferential tariff for Macedonia
270: Preferential tariff for Mexico
272: Preferential tariff for Montenegro
273: Preferential tariff for Morocco
281: Preferential tariff for Norway
283: Preferential tariff for Overseas Countries and Territories
284: Preferential tariff for Pakistan
287: Preferential tariff for Papua New Guinea
289: Preferential tariff for Peru
293: Preferential tariff for San Marino
295: Preferential tariff for Selected Eastern and Southern African countries(Madagascar, Mauritius, Seychelles and Zimbabwe)
299: Preferential tariff for Singapore
302: Preferential tariff for South Africa
306: Preferential tariff for Switzerland
308: Preferential tariff for Syria
318: Preferential tariff for the republic of Moldova
321: Preferential tariff for Tunisia
325: Preferential tariff for Ukraine
341: Preferential tariffs for countries benefiting from the special incentive arrangement for sustainable development and good governance

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Austria's⁩ ⁨economy has become relatively mÑs complex, moving from the ⁩⁨10th to the 9th⁩ 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.

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Most Specialized Products by RCA Index

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Austria has a high level of specialization in Unprocessed Artificial Staple Fibers (33.8), Railway Maintenance Vehicles (30.1), Handguns (29.3), Cigarette Paper (22.1), and Molybdenum (19.9). Specialization is measured using RCA, an index that takes the ratio between Austria observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Austria according to the product complexity index (PCI) are Machining centre, single/multistation transfer machine (2.42), Equipment for photographic laboratories nes (2.25), Machines nes having individual functions (2.05), Machine-tools for shaping metals, nes (2.03), and Tool plates, tips, etc, sintered metal carbide, cermet (2.03). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Austria according to the relatedness index, are Newspapers (0.45), Laboratory Glassware (0.45), Rock Wool (0.45), Iron Radiators (0.45), and Brochures (0.44). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Austria is not specialized in.

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 it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.