Lower Austria's exports in a decline: new markets in demand!

Lower Austria's exports in a decline: new markets in demand!

In the first half of 2024, Lower Austrian companies exported goods worth almost 14.7 billion euros, according to the preliminary export figures of statistics Austria. This represents a decline of 4.9 percent compared to the previous year, which is particularly due to a dramatic decline in exports to Germany. Germany remains the largest and most important export market for Lower Austria, but exports to this neighboring country fell by 7.8 percent. The governor Johanna Mikl-Leitner (ÖVP) emphasized that every fifth workplace in Lower Austria is directly or indirectly dependent on the export and found that a staggering export engine can also suffer economic growth, as reported.

The importance of export for the Lower Austrian economy is undeniable; 65 percent of all goods exports go to EU countries, which underlines the importance of the internal market. Mikl-Leitner, WKNÖ President Wolfgang Ecker and IV-NÖ President Kari Ochsner therefore called for concrete measures to strengthen competitiveness. They emphasized that new markets in North America and Asia have to be developed in order to counter the impending economic challenges. In fact, it turns out that the export services to Western Europe decreased sharply, while exports to the central and Eastern European space remained stable, as from the reports of noe.gv.at

strategies to stabilize exports

The export landscape is strongly influenced by international developments. So that Lower Austria's exporting industry continues to serve as an engine for growth, immediate diversification of the sales markets is required. The export potential according to Japan was particularly emphasized, where an increase of over seven percent was already recorded in the first half of the year. The governor and leading business representative are therefore plans to build a business delegation to build new business relationships and use participation in the World Exhibition in Osaka 2025. These steps could make a decisive contribution to stabilizing the export numbers that are essential for the economy of the country.