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Austria

EDC Position-open all programs

EDC's Position

  • Key EDC Market
  • Actively pursuing business
  • Open under all programs, subject to regular approval criteria

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Country At A Glance

Flag of Austria
Map of Austria

Country Facts

Nominal GDP374.29 Billion USD
Population8.56 Million
Total Trade/GDP102.33%
CurrencyEuro (EUR)
Merchandise Imports from Canada328.67 Million CAD
Canadian direct investment559 Million CAD
Main importsMachinery & Equipment, Chemicals, Mineral Fuels, Food, Beverage & Tobacco

EDC in Austria

Canadian companies assisted111
International buyers insured110
Business volume258.42 Million CAD

Business Environment

Austria has a strong and growing trade relationship with Canada exemplified by the fact that Canadian export flows to Austria reached about 328 mn in 2015. The Austrian economy is modern, developed and accommodative to business. In the World Economic Forum’s recent Global Competitiveness Report, Austria ranked 23rd out of 140 countries with particular emphasis placed on business sophistication given high quality local suppliers and strong links to regional supply chains. EDC has historically seen most activity in the Aerospace (OEM – fixed wing aircraft), Automotive and Heavy Truck and Mining & Metals industries. In addition to these industries, EDC sees strong opportunities for Canadian business in the ICT, Advanced Manufacturing Technologies and Clean Tech sectors. It should be noted that while Austria is a very economically stable country, real GDP growth has recently slowed and is expected to be about 1.3% for 2016. Minor short term headwinds can also be expected as a result of the UK’s vote to leave the EU and increasing political risk across Europe.

Key Industries

  • Construction & Infrastructure
  • Environmental Infrastructure & Waste Water
  • Machinery - Packaging, Industrial & Analytical Instruments
  • Services - Non-Industrial
  • Telecom

How we can support your business

Through our representation in Dusseldorf, Germany, we provide regional support to Canadian companies planning on or currently doing business in Austria. Our regional representatives have developed strategic relationships with major buyers in key sectors as well as an extensive network of local contacts in the market.

  • We are well positioned to help Canadian companies through a range of financing and risk management services.
  • Learn more about our service offering.
 

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Related Information

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