The trade deficit in Austria narrowed to EUR 587 million in August 2018 from EUR 815 million in the same month a year earlier. Exports advanced 5.0 percent year-on-year to EUR 11.32 billion, as sales to countries outside the EU edged up 0.8 percent and to the EU countries jumped 7.0 percent. Meanwhile, imports went up 2.7 percent to EUR 11.90 billion, as purchases from countries outside the EU advanced 2.3 percent and those from EU countries increased 2.9 percent. Considering the first eight months of the year, the trade gap decreased to EUR 3.17 billion from EUR 3.85 billion in the same period of 2017, as exports advanced 6.5 percent and imports went up 5.5 percent. Balance of Trade in Austria averaged -287.41 EUR Million from 1953 until 2018, reaching an all time high of 581 EUR Million in November of 2014 and a record low of -1256 EUR Million in April of 1991.
Balance of Trade in Austria is expected to be -696.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Austria to stand at -403.70 in 12 months time. In the long-term, the Austria Balance of Trade is projected to trend around -736.00 EUR Million in 2020, according to our econometric models.