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The VIENNA REGION is in pole position for the eastern markets!
The countries of the CEE region have turned into stars among export destinations in recent decades. According to Austria’s central bank, Oesterreichische Nationalbank (OeNB), Eastern Europe’s* share in domestic exports has increased from 14.2 to 21 per cent since 1995. In the same year, in comparison, Austria’s most important export market, Germany, was the destination of 38.4 per cent of all exports in contrast to a declining 30.2 per cent in the previous year.
This development is particularly impressive in absolute terms: Austria’s exports to Central and Eastern Europe have increased fivefold to EUR 31.6 billion since 1995 due to the region’s tremendous need to catch up after the enlargement of the European Union.
Machines and motor vehicles are the trailblazers among all export articles, followed by manufactured goods and chemical products. The strongest growth rates have been recorded for food products, fuels and raw materials as well as beverages since 2000.
The Vienna Region is located at the heart of a market with more than 500 million consumers and enables ideal access to the various CEE countries. As an extended hub, the Vienna Region will increasingly create business opportunities in the growth markets of the Middle East and Africa.
*Albania, Armenia, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Estonia, Georgia, Kazakhstan, Kirgizstan, Kosovo, Croatia, Latvia, Lithuania, North Macedonia, Moldova, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Tajikistan, Czech Republic, Turkmenistan, Ukraine, Hungary, Uzbekistan, Belorussia
Source: Oesterreichische Nationalbank, Statistics Austria, Der Standard