The trade deficit in Austria narrowed to EUR 214 million in September 2018 from EUR 423 million in the same month a year earlier. Exports rose 2.8 percent year-on-year to EUR 12.42 billion as sales to countries outside the EU advanced 7.3 percent and to the EU countries increased 0.9 percent. Meantime, imports went up 1.1 percent to EUR 12.63 billion, as purchases from countries outside the EU jumped 5.6 percent and those while those from EU countries fell 0.7 percent. Considering the first nine months of the year, the trade gap declined to EUR 3.68 billion from EUR 4.27 billion in the same period of 2017, as exports advanced 6.0 percent and imports edged up 5.2 percent. Balance of Trade in Austria averaged -287.31 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.