Last year, 1.8 percent more food was exported from Austria. At the same time, imports fell slightly (by 0.7 percent), according to data from AMA. For example, bilateral trade with Ukraine has declined sharply.
On the export side, this collapsed by 36.3 percent and the value of war exports fell as a result of the war. According to the AMA, Germany remains the most important buyer country for Austrian exports with 4.4 billion euros, which corresponds to just over a third of all agricultural exports. Last year, the demand from neighbors was mainly for dairy products, beef and processed fruit and vegetables. Italy follows in second place (1.3 billion euros), third is the US (560 million euros). This is followed by the Netherlands (458 million euros) and Switzerland (450 million euros).
The value of milk and grain increased
Between January and September, demand rose mainly for processed fruit and vegetables (plus 13.9 percent) and for sausage products (13.7 percent). As in previous years, the export hits were dairy products, which accounted for more than 1.2 billion euros between January and September 2022 and thus again rose sharply in value (by 22.4 percent). The enormous price increases also affected the value of grain. This recorded an increase of 31.4 percent.
While the value of exports to Ukraine has fallen due to the war, in Russia it has increased by about a third. In general, export and import values have skyrocketed due to inflation. Foreign trade in agricultural products resulted in a deficit of 160 million euros, after the balance was roughly in balance in 2021 and positive for the first time in 2020.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
