Austria has a strong and growing trade relationship with Canada exemplified by the fact that Canadian exports to Austria reached about CAD $229 million in 2016. In the medium term, Canadian exports to Austria should get a boost with the Comprehensive Economic and Trade Agreement (CETA). The Austrian economy is modern, developed and accommodating to business. In the World Economic Forum's recent Global Competitiveness Report, Austria ranked 19th out of 138 countries with particular 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 and metals industries. In addition to these industries, EDC sees strong opportunities for Canadian business in the ICT, advanced manufacturing technologies and cleantech 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 per cent for 2018. That said, this could rise given a strengthening European Union economic environment.
- Construction & Infrastructure
- Environmental Infrastructure & Waste Water
- Machinery - Packaging, Industrial & Analytical Instruments
- Services - Non-Industrial