Austria's trade deficit narrowed to EUR 457.6 million in May 2020 from EUR 472 million in the corresponding month of the previous year, amid the coronavirus pandemic. Imports plunged 24.8 percent due to lower purchases from the EU (-26 percent) and non-EU countries (-22.1 percent). Meantime, exports slumped 25.5 percent as sales declined to the EU (-25.1 percent) and non-EU countries (-26.4 percent). Considering the first five months of the year, the country recorded a EUR 460.2 million trade gap, as imports went down 14.3 percent and exports fell at a softer 12.9 percent.
Balance of Trade in Austria averaged -290.25 EUR Million from 1953 until 2020, 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. This page provides - Austria Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Austria Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
Balance of Trade in Austria is expected to be -600.00 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 -500.00 in 12 months time. In the long-term, the Austria Balance of Trade is projected to trend around -100.00 EUR Million in 2021, according to our econometric models.