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Export shock: Austria's competitiveness in danger!
Austria's economy is losing competitiveness. Exports collapse; New strategies for growth and fair trade are required.
Export shock: Austria's competitiveness in danger!
In Austria, alarming export figures show that the country's competitiveness is at risk. Exports in November 2024 fell by a whopping 14.7 percent compared to the previous year, while exports within the EU even fell by 18.1 percent. This means that Austria's export quota has fallen from 62 to 57 percent within two years. Christoph Neumayer, Secretary General of the Industrial Association, describes these figures as a “warning signal” and calls for increased commitment to an active location policy in order to regain the country's competitiveness, reported OTS.at.
Criticism of the EU regulatory regime
The energy-intensive industry is particularly suffering from rising energy costs, which have been heavily impacted by the recent energy crisis. Europe faces up to three times higher energy costs compared to international standards, including inadequate market conditions and excessive bureaucracy. According to a new study by Compass Lexecon, published on behalf of BusinessEurope, these factors have significantly weakened European competitiveness. Neumayer describes the European Green Deal as an “anti-growth deal” because the regulations and obligations imposed place a heavy burden on companies, while international competitors benefit from cheaper energy costs. There is therefore a great need for action now to ensure competitiveness in Europe IV.at reported.
The industrial association emphasizes that Austria's companies rely on stable export relationships and international trade agreements to guarantee future prosperity. According to Neumayer, the demand for an end to the blockade towards the Mercosur agreement is becoming increasingly urgent in order to promote open markets and dismantle protection measures that only benefit a few. The key to greater competitiveness lies in urgently needed measures for more growth and the massive expansion of renewable energies in order to significantly improve the framework conditions in Europe.