Trade Policy and Regulations in Austria
Foreign Trade in Figures
The Austrian economy is heavily dependant on foreign trade which accounts for more than 95% of its GDP. Trade with European Union countries accounts for about 70% of the total trade. Austrian exports suffered significantly from the global crisis, however, with the recovery, the Austrian trade deficit has improved in 2010. This tendency should continue.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||137,212||163,037||184,293||143,063||158,549|
|Exports of Goods (million USD)||136,751||163,621||181,289||136,988||151,791|
|Imports of Services (million USD)||33,337||38,854||42,569||36,707||36,137|
|Exports of Services (million USD)||45,199||53,657||62,957||54,045||53,426|
|Imports of Goods and Services (Annual % Change)||5||7||-1||-14||-|
|Exports of Goods and Services (Annual % Change)||7||9||-||-||-|
|Trade Balance (million USD)||426||1,810||-592||-3,258||-|
|Current Account (million USD)||7,807||13,189||20,127||10,995||-|
|Foreign Trade (in % of GDP)||109||113||113||97||-|
|Imports of Goods and Services (in % of GDP)||52||54||53||46||-|
|Exports of Goods and Services (in % of GDP)||57||59||59||51||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|Other partnersClose extended list||47.4%|
(% of Imports)
|Other partnersClose extended list||38.6%|
- Main International Economic Cooperation
- Member of
World Trade Organisation
Being a member of E.U. (European Union), Austria participates in the European Economic Area (EEA). Since Foreign Trade Policy is an EU competency, Austria has no bilateral free trade agreements. However as an EU member Austria participates in all EU trade agreements, which include: - Agreement with European Economic Area: Iceland, Liechtenstein and Norway - Customs Union with: Turkey, Switzerland, Andorra and San Marino - Stabilization and Association Agreements with: Croatia, Former Yugoslav - Republic of Macedonia and Albania; in negotiation with Serbia, and Bosnia and Herzegovina - Partnership and Cooperation Agreements with concentrating on increasing trade in place with: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgystan, Moldova, Russia, Tajikistan, Ukraine, and Uzbekistan. - Agreements with Free Trade Area (FTA) provisions are in place with: Algeria, Egypt, Israel, Jordan, Lebanon, Morocco, Tunisia, Palestinian Authority (interim), Chile, Mexico and South Africa. Austria is also member of OECD ( Organization for Economic Cooperation and Development)
- Assessment of Commercial Policy
Country’s commercial policy
Barriers to exchanges
- Average Customs Duty (Excluding Agricultural Products)
- Useful Resources
- National Organization of Intellectual Property
- The body responsible for the protection of intellectual property is the Austrian Patent Office.
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