Evaluating the market in Austria

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Business environment in Austria

Austria has a strong and growing trade relationship with Canada exemplified by the fact that Canadian export flows to Austria reached about 229 mn in 2016. In the medium term, Canadian exports to Austria should get a boost with the coming into force of the Comprehensive Eocnomic Trade Agreement (CETA). The Austrian economy is modern, developed and accommodative to business. In the World Economic Forum's recent Global Competitiveness Report, Austria ranked 19th out of 138 countries with partciular emphasis placed on innovation and business sophistication as well as high quality education and training programs. EDC has historically seen most activity in the Aerospace (OEM - fixed wing aircraft), Automotive and Heavy Truck, Packaging 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 2018. That said, this could be revised upward given a strengthening EU economic environment.
  • Construction & Infrastructure
  • Environmental Infrastructure & Waste Water 
  • Machinery - Packaging, Industrial & Analytical Instruments 
  • Services - Non-Industrial
  • Telecom

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Alicia McCarthy

Senior Trade Advisor, EDC

Alicia McCarthy  Senior Trade Advisor, EDC