Austria’s economy is dependent on foreign trade and closely linked to the economies of other EU countries, particularly Germany. The major export commodity in Austria is the automobile and its components, machinery and paper products. Austria’s largest exports markets are European Union, United Sates and Switzerland.
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What are the main imports and exports in Austria?
Economy of Austria
| Statistics | |
|---|---|
| Export goods | machinery and equipment, motor vehicles and parts, manufactured goods, chemicals, iron and steel, foodstuffs |
| Main export partners | Germany (+) 29.4% United States (+) 6.3% Italy (+) 6.2% Switzerland (+) 5.1% France (+) 4.8% Slovakia (+) 4.8% (2017) |
| Imports | $158.1 billion (2017 est.) |
What does Austria import?
Austria imports mainly machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products and foodstuffs. Its main import partners are European Union countries (Germany, Italy, Netherlands), Switzerland, China and United States.
What are the top 3 imports to Austria?
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).
Where does Austria export to?
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| Austria Exports By Country | Value | Year |
|---|---|---|
| Germany | $49.24B | 2020 |
| United States | $10.48B | 2020 |
| Italy | $10.02B | 2020 |
| Switzerland | $8.95B | 2020 |
What is exported from Austria?
Austria’s major exports include packaged medicaments, vehicle parts, cars, broadcasting equipment, human or animal blood, combustion engines, flavored water, spark ignition engines, metal mountings, and electrical transformers.
What is Austria famous for?
Austria is famous for its castles, palaces and buildings, among other architectural works. Some of Austria’s most famous castles include Festung Hohensalzburg, Burg Hohenwerfen, Castle Liechtenstein, and the Schloß Artstetten.
What does Austria import from other countries?
Top 10
- Machinery including computers: US$22.8 billion (13.3% of total imports)
- Electrical machinery, equipment: $20.2 billion (11.7%)
- Vehicles: $17.8 billion (10.3%)
- Mineral fuels including oil: $9.4 billion (5.5%)
- Pharmaceuticals: $8 billion (4.6%)
- Plastics, plastic articles: $7.3 billion (4.2%)
What is the product of Austria?
The major export commodity in Austria is the automobile and its components, machinery and paper products. Austria’s largest exports markets are European Union, United Sates and Switzerland.
What crops are grown in Austria?
Crops include sugar beets, wheat, corn (maize), barley, potatoes, apples, and grapes. Pigs and cattle also are raised.
What are the major industries in Austria?
The most important industrial sectors in Austria are:
- Food and Drink industry.
- Mechanical and Steel Engineering.
- Chemical and Automotive industry.
- Electrics and Electronics industry and.
- Wood, Pulp and Paper industry.
What does US export to Austria?
For 2018, U.S. Census data reported that U.S. exports to Austria were led by: pharmaceuticals (up 25%), machinery (up 7%), aircraft and parts (down 21%), chemicals (down 72% for all categories), medical and measuring instruments (up 3%), and electrical machinery and equipment (up 9%).
What countries does Austria Trade with?
Austria’s most important two-way trading partners are Germany, followed by Italy, the United States, and Switzerland. The European Union accounts for 70% of Austria’s foreign trade, with Germany constituting around 30% of that value.
What are the top exports in Austria?
Austria’s Top Exports
- Refined petroleum – $1.88 billion.
- Sawn wood – $1.63 billion.
- Gold – $776 million.
- Particleboard – $761 million.
- Petroleum gas – $709 million.
Is Austria richer than UK?
make 11.4% less money
Austria has a GDP per capita of $50,000 as of 2017, while in United Kingdom, the GDP per capita is $44,300 as of 2017.
Is Austria richer than Germany?
Austrians on average have more spending power than Germans, according to Allianz’s Global wealth report for 2015. Austria placed 17th in a ranking of countries with the highest net financial assets (gross assets minus debt) per capita.
What makes Austria unique?
Austria is known for its mountain railways and trains such as the Giselabahn. Ferdinand Porsche, the founder of the German sports car company ‘Porsche’, was from Austria. Former Hollywood actor Arnold Schwarzenegger grew up in Austria. 62% of Austria is covered by the Austrian Alps.
What is Austria good for?
See The City Named ‘Best for Quality Of Life’ Vienna has been named the ‘city with the best quality of life’ 8 times in a row by consulting firm Mercer. Low crime rates, clean air, cheap rents, and a rich culture are a few of the reasons why it has been given this accolade.
Does Austria speak English?
While English is widely spoken in Austria, it has no official status there. Instead, official communications, signage and so forth uses German, as that is the primary language of Austria.
Who is the most famous Austrian?
Famous Austrians: Wolfgang Amadeus Mozart (Composer), Sigmund Freud (Psychiatrist), Arnold Schwarzenegger (Governor and Actor), Erwin Schrödinger (Physicist), Ludwig Wittgenstein (Philosopher), Maria Theresia (Queen regnant), Lise Meitner (Physicist), Ernst Mach (Physicist), Elfriede Jelinek (Novelist & Nobel Prize
Why is Austria a mixed economy?
Austria has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Austria is a member of the European Union (EU).
