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 preliminary data produced by Statistics Austria for 2024, the two countries together represent 6.9 percent of the Austrian trading volume, of which about 92 percent 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 € 25.0 billion in 2023, a record of € 26.1 billion was reached in 2024, according to the preliminary data of Statistics Austria, corresponding to an increase of 4.3 percent over 2023.

Exports of € 16.2 billion in 2024 marked an all-time high for the USA. With a rise of 10.1 percent over 2023, the USA ranked second (behind Germany and before Italy) among Austrian export destinations. At a share of 8.5 percent 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 three times higher that of China). At the same time, an import volume of € 7.7 billion made the USA the second most important import market outside Europe (behind China). The decrease was 2.6 percent in 2024.

Austrian exports to Canada registered a decline of 5.9 percent in 2024 at € 1.6 billion. Imports from Canada decreased by 16.2 percent to € 598 million in 2024. In total, Austria’s trade volume with Canada was € 2.2 billion in 2024.

Bilateral economic relations with Latin America

According to the preliminary data generated by Statistics Austria, the country’s trading volume with Latin America amounted 2024 to 1,5 percent, which makes for about € 5.75 billion or 18 percent of total trade with America.

In 2024, the most important trading partner in Latin America was Mexico, at a trading volume of € 2.3 billion, followed by Brazil (€ 1.4 billion) and Chile (€ 528 million).

Mexico remained the most important export partner in Latin America in 2024, with exports running at almost € 1.8 billion (47 percent of Austrian exports to Latin America). Second came Brazil, at € 1.1 billion or 28 percent of Austrian exports to the region). Mexico also ranked first in Austrian imports from Latin America in 2024 (€ 495 million), followed by Brazil (€ 355 million).

Contact

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