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Financial News: Austria Trade Logs Deficit; Retail Sales Rise

Austria Trade Logs Deficit; Retail Sales Rise

11/08/2022 - 05:27:00 (RTTNews)

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

Retail sales increased in September from a year ago, another data from the statistical office revealed.

The trade balance logged a deficit of EUR 2.33 billion in August. Exports grew 17.9 percent yearly in August and imports rose 23.1 percent.

"The upward trend in foreign trade continued in the second half of 2022," Statistics Austria Director General Tobias Thomas said.

The increase in imports was largely due to the 66.9 percent jump in the import value of fuels and energy, which was mainly due to price increases in this group of goods, the official said.

The retail trade, excluding the motor vehicle trade, including service stations in nominal terms increased an unadjusted 12.0 percent yearly in September.

Sales of food grew 14.6 percent annually in September and those of non-food trade gained 8.8 percent.

In real terms, retail trade rose 1.6 percent on a yearly basis in September.

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