Austria records first trade surplus in 16 years

Vienna [Austria], July 23: Austria has recorded its first trade surplus in 16 years, registering a surplus of approximately €1.7 billion last year, compared to a deficit of around €2 billion in 2023.
According to the latest official figures from Statistics Austria, the country achieved a trade surplus for the first time since 2007, with exports rising to approximately €191 billion and imports amounting to €189.3 billion.
The improvement in Austria's trade balance was largely attributed to a notable increase in exports of machinery, vehicles and pharmaceutical products, which dominate Austria's foreign trade with both the European Union and third countries.
At the bilateral level, Austria recorded its largest trade surplus with the United States at €8.51 billion. The US became Austria's second most important export partner last year after Germany, with exports to the US rising by 10.1 percent year-on-year to reach €16.23 billion, while imports from the US declined slightly by 2.6 percent to €7.72 billion.
Source: Emirates News Agency