In 2023, Upper Austrian companies exported products worth 54.1 billion euros, more than any other Austrian state. But rising prices are now threatening the positive development. Doris Hummer, president of the Upper Austrian Economic Chamber, is registering falling demand.
Umbrellas from Braunau for Rolls-Royce and many Škoda models; mozzarella from Feldkirchen near Mattighofen, which is eaten and further processed in Italy – these are just two examples of how Upper Austria is causing a sensation in Europe and the world.
2022 record surpassed
In a comparison of federal states, Upper Austria has held the title of export emperor for years – the latest figures from Statistics Austria underline this. With exports worth 54.1 billion euros, the state above the Enns was able to exceed the 2022 record value of 52.3 billion euros. billion euros. Given the growth figures of recent years, this is “only” moderate growth, but still a significant plus.
Upper Austria accounts for 27 percent of Austrian exports. Companies such as aircraft supplier FACC and the BMW engine factory in Steyr drive these values up enormously – both companies have an export percentage of 100 percent. Meaning: All their products are sold abroad without exception.
While State Councillor for Economic Affairs Markus Achleitner is pleased with Upper Austria’s position as the “economic locomotive of the republic”, Doris Hummer is concerned about the decline in exports in the current calendar year. Above all, the sharp increases in unit labour costs are making it more difficult for products made in Austria.
“We have to stop this development now if we don’t want to price ourselves completely out of the markets,” says the chairman of the Upper Austrian Economic Chamber. Germany is Upper Austria’s most important customer country.
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.
