Austria Logs First Trade Surplus In 16 Years

(RTTNews) - Austria's trade balance turned to a surplus for the first time in sixteen years in 2024 as imports fell faster than exports, data from Statistics Austria showed on Friday.

The trade balance registered a surplus of EUR 1.74 billion in 2024 versus a deficit of EUR 2.02 billion in 2023.

Exports declined 4.9 percent compared to last year, and imports were 6.7 percent lower.

"This means that exports exceeded imports for the first time since 2007," Statistics Austria Director General Tobias Thomas said.

Austria had the highest trade surplus with the USA, its second most important export partner after Germany. Meanwhile, the highest trade deficit recorded in Austria with China, the country's second most important import partner.

In December, the total trade deficit of the country was EUR 825.2 million, up notably from EUR 422.1 million in November. Exports logged an annual decrease of 4.4 percent, while imports climbed by 4.1 percent.