AUSTRIA: SLOWER GROWTH IN TRADE WITH EAST EUROPE

Article Abstract:

According to the Wirtschaftskammer, Austria's exports to eastern Europe increased 2.8% to Sch 131.3bn in 1999. This is the first time since the opening up of east European economies that Austria's exports to eastern Europe grew at a slower pace than the country's overall exports, which increased 5.7%. Meanwhile, Austria's imports from eastern Europe were up 6.2% at Sch 101.3bn. Eastern Europe was the only region with a surplus for Austrian exporters, while deficits were recorded in trade with all other regions. Eastern Europe is Austria's second-biggest regional trade partner, taking 16% of the country's exports. The European Union's share is 63%.

Intnl Affairs & Finance, National Security and International Affairs

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AUSTRIA: HIGH INVESTMENTS IN EAST EUROPE

Article Abstract:

Austria has until now invested more than Sch 75bn in eastern Europe. According to Wifo, investments totalled US$ 1.5bn-2bn in 1999, and a new record is expected for 2000. Among other things, the takeover of the Czech savings bank by Erste Bank is to contribute to the growth. Of all foreign direct investments in eastern Germany since 1990, Austria has a share of 5.1%. In the first half of 1999, the proportion increased to 8%. At the end of 1998, Hungary accounted for 32.6% of Austria's investments in east Europe, the Czech Republic for 26%, Slovakia for 10.2%, Poland for 9.9% and Slovenia for 8.1%.

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AUSTRIA: MORE FOREIGN COMPANIES ENTER MARKET

Article Abstract:

According to the Austrian Business Agency (ABA), 78 foreign companies settled in Austria in the first half of 2000, which means an increase of 70% over the same period of the previous year. The firms invested a total of Sch 4bn and created 4,000 jobs. Nineteen German companies, ten Swiss and nine US firms established subsidiaries in Austria in the first half of the year. By the end of the year, ABA expects new foreign investors to spend Sch 6bn and employ 6,000 people in Austria.

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