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Financial News: Austria Trade Balance Logs Deficit

Austria Trade Balance Logs Deficit

01/09/2023 - 04:58:00 (RTTNews)

(RTTNews) - Austria's trade balance logged a deficit in October, as imports rose faster than exports, data from Statistics Austria showed on Monday.

The trade balance registered a deficit of EUR 1.89 billion in October. Exports grew 16.3 percent yearly in October and imports rose 17.5 percent.

"As in previous months, this increase was in many cases due to price rises, some of which were massive, for example in the case of imports of fuels and energy," Statistics Austria Director General Tobias Thomas said.

The volume of gas imports was reduced by 40.1 percent in the first ten months of 2022 compared with the last year, it transferred 127.8 percent more money to its import partners for this purpose, the official said.

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