Austria's 15 million euro package: Rescue for export!

Austria's 15 million euro package: Rescue for export!

Österreich - Austria reacts to the dramatic decline in its exports and plans a comprehensive funding package worth 15 million euros. This is intended to help combat the decline of 10 billion euros last year and to open up an additional export potential of 20.8 billion euros. The initiative recently presented Harald Mahrer, the President of the Chamber of Commerce, and Minister of Economics Wolfgang Hattmannsdorfer and aims to compensate for the export decline in 2024 within the next two years.

Exports Austria were around 10 billion euros below the total export volume of 2023 last year. Those responsible attribute this decline to high energy and labor costs as well as to bureaucratic effort. The fact that foreign competition, especially Chinese industrial production, is now 35 percent above the level before corona pandemic is particularly worrying. In contrast, the four largest EU folk economies currently produce 7.2 percent less than before pandemic. In view of this situation, Mahrer emphasizes that the economic situation is in the third year of recession.

Details on the funding package

The 15 million euro funding package is integrated into the existing Go-International initiative. A third of the funds flows into new programs for promising markets; The other third strengthens the existing go-international program. Markets that were identified as particularly promising include North and South America, Western Balkans, the Golf region, India, Japan and Southeast Asia.

The potential additional exports from these markets are considerable. Around 11.1 billion euros in North America, 3.3 billion to Southeast Asia and Oceania, 1 billion in the Western Balkans and a total of 1.2 billion to the Golf region and 1.1 billion could flow to India. Despite the positive prospects, however, there is an inflation -adjusted real export decline, which illustrates the challenges that continue to burden the Austrian export business.

Support from export credit guarantees

In order to promote export transactions, various companies are also available to export credit guarantees and investment guarantees. These foreign trade funding instruments of the federal government protect exporters and banks from political and economic risks. The Euler Hermes Aktiengesellschaft places special focus on advice on the economy in relation to foreign business. For small and medium-sized companies there are special programs, such as the export package "APG Light", which was designed for standardized export business.

These guarantees and funding instruments should not only promote export, but also contribute to the creation and securing of jobs. A central goal is to support medium-sized companies to promote equal opportunities in international competition, which is particularly important for companies in developing and emerging countries. The federal government works closely with PricewaterhouseCoopers GmbH to offer targeted support.

The uncertainty about the economic development in the second quarter and the second half of 2025 remains, which underlines the urgency and the need for such initiatives.

Further information on the foreign trade funding can be found on the websites of Kosmo , DIHK and Export credit guarantees .