Vorarlberg's economy defies the crisis: export surplus at a record level!

Vorarlberg's economy defies the crisis: export surplus at a record level!

Vorarlberg is also a strong export country in 2024, despite economic challenges. According to the current foreign trade balance sheet published by Statistics Austria, the region recorded a decline in exports by 2.7 percent compared to the previous year, which corresponds to an export volume of 6.6 billion euros. However, the country with a commercial balance sheet surplus of over 1.9 billion euros remains at a record level, which makes Vorarlberg the first address in Austria when it comes to trade surpluses per capita. This is supported by the broad list of the export industry, which is active with around 230 international markets, as well as the crown reported.

Worldwide trade relationships and market development

However, the economic conditions were not rosy. The business crisis, high living costs and general economic flattening, especially in Germany - the most important trading partner of Vorarlberg - have burdened business. Imports fell by 6.6 percent to around 4.6 billion euros, which shows an alarming trend. Nevertheless, the state council of Marco Tittler emphasizes that the Vorarlberg companies are robust in international comparison. "Despite the difficult starting situation, the Vorarlberg economy is relatively strong," said Tittler. Products from Vorarlberg continue to be sold worldwide, with a special focus on the EU countries, which make up 58 percent of exports.

The strongly broken trade relationships with the GUS countries since Ukraine invasion are particularly striking. This event not only confused trade currents, but also brought new challenges for the Vorarlberg economy. The demand of WKV President Karlheinz Kopf for a clever trade policy that is supposed to open up new markets becomes increasingly louder in view of these circumstances. The possibility of using new trade agreements such as the EU Mercosur free trade agreement could therefore be crucial for the Austrian export industry in order to cushion future uncertainties, how Vorarlberg Orf informed.