Austria’s trade relations with America

Bilateral economic relations with North America

Austria traditionally has strong trading ties with the North American states – USA and Canada. According to the final data produced by Statistics Austria for 2022, the two countries together represent 5.4% of the Austrian trading volume, of which about 90% involves the USA. After the decline in 2020 in the wake of the covid pandemic, trading with North America is once again stepping up considerably. After € 18.8 billion in 2021, a record of € 22.3 billion was reached in 2022, according to the preliminary data of Statistics Austria, corresponding to an increase of 18.75% over 2021.

Exports of € 12.9 billion in 2022 marked an all-time high for the USA. With a rise of 16.3% over 2021, the USA ranked third (behind Germany and Italy and before Switzerland) among Austrian export destinations. At a share of 6.6% of Austria’s total exports, the USA remain by far the most important sales market both outside the EU and outside Europe (the share is more than double that of China). At the same time, an import volume of € 7.3 billion made the USA the second most important import market outside Europe (behind China). The increase was 27,3% in 2021.

Same as in the USA, Austrian exports to Canada registered a rise of 18.6% in 2022, a new all-time high at € 1.7 billion. Imports from Canada, on the other hand, declined by 21,7% to € 430 million in 2022. In total, Austria’s trade volume with Canada was € 2.1 billion in 2022.

Bilateral economic relations with Latin America

According to the final data generated by Statistics Austria, the country’s trading volume with Latin America amounted to 1.5%, which makes for about € 6.0 billion or 21% of total trade with America.

In 2022, the most important trading partner in Latin America was Mexico, at a trading volume of € 2.3 billion, followed by Brazil (€ 1.6 billion), Chile (€ 494 million) and Argentina (€ 266 million).

Mexico remained the most important export partner in Latin America in 2022, with exports running at almost € 1.7 billion (45% of Austrian exports to Latin America). Second came Brazil, at € 1.1 billion or 30% of Austrian exports to the region). The two countries managed a new record in Austrian exports in 2022. Mexico ranked first in Austrian imports from Latin America in 2022 (€ 646 million), followed by Brazil (€ 449 million).

Contact

America, Africa, Middle East, world expositions: wirtschaftsbeziehungen-amerika@bmaw.gv.at