Exports in Austria
Austria - ExportsAlthough initial data for the first quarter paints a fairly bright picture, the war in Ukraine will have left its mark at the tail end of the period and thereafter. Industrial output growth accelerated on a sequential basis in January–February. Retail sales rebounded robustly on a month-on-month basis in the same period, despite an uptick in the unemployment rate. The war is set to impact the Austrian economy to a greater extent than other European peers, due to close banking sector ties with Russia and the export-reliant industrial sector’s vulnerability to lessened demand in trading partners. Moreover, the war has dealt a heavy blow to consumer sentiment, which tumbled to a multi-year low in March. In mid-April, Chancellor Nehammer met with President Putin in Moscow. Afterwards, Nehammer assuaged concerns by stating that Austria would not need to pay for Russian gas in rubles.
Austria - Exports Data
|Exports (USD billion)||144||146||160||177||175|
5 years of economic forecasts for more than 30 economic indicators.
Austria Exports Chart
Source: Austrian National Bank.
|Bond Yield||0.03||0.40 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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May 11, 2022
Industrial production decreased 1.1% month-on-month in seasonally-adjusted terms in March (February: +0.2% mom).
May 3, 2022
Consumer confidence came in at minus 21.0 in April, up from March’s minus 22.0.
May 2, 2022
Industrial output expanded 2.2% month-on-month in February, down from January’s 4.2% expansion.
April 29, 2022
The Austrian economy rebounded from a 1.5% quarter-on-quarter contraction in the fourth quarter of last year to a 2.5% quarterly expansion in the opening quarter of this year.
April 27, 2022
Despite the Austrian economy’s links with Russia and its export-driven manufacturing sector, operating conditions in the sector continued to improve at a strong pace in April.