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Financial News: Austria Trade Deficit Rises In June

Austria Trade Deficit Rises In June

09/08/2020 - 07:29:00 (RTTNews)

(RTTNews) - Austria's trade deficit increased in June from last year amid a fall exports and imports, data from the Statistics Austria showed on Tuesday.

The trade deficit rose to EUR 116.193 million in June from EUR 94.194 million in the same month last year.

Exports fell 5.4 percent year-on-year in June and imports declined 5.1 percent.

On a working-day adjusted basis, exports and imports fell by 11.9 percent and 10.7 percent, respectively.

"Foreign trade is showing signs of recovery for the first time," Statistics Austria General Manager Tobias Thomas said.

"Declines are still clear, but at around 5 percent they are weaker than in the Corona months from March to May 2020," Thomas added.

The trade with EU nations resulted in a deficit of EUR 219.855 million in June from EUR 285.435 million in the same month last year.

For the January to June period, exports declined 11.7 percent and imports fell 13.0 percent. The trade deficit was EUR 1.140 billion.

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