Carinthia’s foreign trade increased by almost 20% in the first half of 2022, but energy prices are causing the foreign trade surplus to melt.
Klagenfurt (OTS) – Despite major changes, according to the recently published foreign trade statistics* for the first half of 2022, Carinthia can remain one of only four Austrian federal states with a positive external trade balance: exports (exports of goods) worth EUR 4.657 billion (+19% vs. H1 2021) compared to imports (imports of goods) of EUR 4.639 billion (+27.4% vs. H1 2021). “We managed to continue the positive trend after the corona pandemic. Despite the most difficult conditions, Carinthia’s export economy has managed to maintain its prominent position and remain the main economic and prosperity pillar”, said Jürgen Mandl, President of the Chamber of Commerce, in praise and recognition of the approximately 2,500 exporting companies from Carinthia.
However, the explosion in energy prices in the context of the war in Ukraine is leaving deep marks on the balance sheet: +27.4% compared to the first half of 2021 outside. “The high external trade surplus, which Carinthian exporters have generated over many years, has fallen to €18.6 million. However, with Upper Austria, Styria and Vorarlberg, Carinthia is among the only four federal states with a positive trade balance”, summarized the head of the foreign trade department, Hemma Kircher-Schneider.
Top 10 exporting and importing countries in Carinthia in the first half of 2022:
Export:
1. Germany: 1.333 billion euros (+14.4% compared to the first half of 2021)
2. Italy: 524 million euros (+19.5% vs. 1st half of 2021)
3. China: EUR 247 million (+32.4% vs. 1st half of 2021)
4. Slovenia: 245 million euros (+53.2% vs. first half of 2021)
5. Switzerland: 186 million euros (+51.4% vs. 1st half of 2021)
6. USA: 164 million euros (+52.9% vs. first half of 2021)
7. Malaysia: 163 million euros (+11.4% vs. 1st half of 2021)
8. France: 160 million euros (+28.5% vs. 1st half of 2021)
9. Taiwan: EUR 157 million (+40.7% vs. 1st half of 2021)
10. Poland: 141 million euros (+11.7% vs. 1st half of 2021)
Import:
1. Germany: EUR 1.314 billion (+17.8% compared to the first half of 2021)
2. China: 465 million euros (+49.2% vs. 1st half of 2021)
3. Italy: 435 million euros (+22.7% vs. 1st half of 2021)
4. USA: 226 million euros (+46.1% vs. first half of 2021)
5. Japan: 203 million euros (+30.6% vs. first half of 2021)
6. Czech Republic: 146 million euros (+16% vs. 1st half of 2021)
7. Slovenia: EUR 145 million (+31% vs. 1st half of 2021)
8. Poland: 134 million euros (+15.9% vs. first half of 2021)
9. Netherlands: EUR 107 million (+24.8% vs. 1st half of 2021)
10. Belgium: EUR 84 million (+2.4% vs. 1st half of 2021)
*based on the flow of goods recorded by Extra and Intrastat using the new calculation method, according to the analysis of the flow of goods in Austria – companies with tax domicile in Austria, broken down by company headquarters – excluding DL, source Statistics from Austria.
Export to neighboring regions flourishes
Exports to the top 10 exporting countries rose sharply again in the first half of 2022, with continued double-digit growth rates. The high growth rate of over 50% in our neighboring country Slovenia is impressive and very pleasing. Italy also continued to grow with a gain of almost 20% and maintained its position as the second most important export market. Kircher-Schneider: “These figures show very clearly the growing importance and economic network of companies in the Alps-Adriatic region. In the case of exports to third countries, the high growth rates of over 50% each for Switzerland and the US are impressive.” High growth rates for the USA bring this market back into the TOP 10 of Carinthian exporting countries. This is due, among other things, to the agreement between the US and the EU in June 2021, which temporarily ended the Airbus/Boeing dispute at the WTO.
China returns to third place in imports
Due to high purchase prices, especially in the area of energy imports, Carinthia’s imports also showed a dramatic increase in the first half of 2022, with growth rates of up to 50%. Germany remains the most important trading partner of the Carinthian economy in terms of exports and imports, China is pushing Italy to third place on the import side. a strong increase.
Commodity structure Carinthia’s exports and imports 1st half 2022
Exports of goods 1st half of 2022
(in EUR and percentage change from the first half of 2021):
1. Boilers, machines, appliances and mechanics. Devices 1.123 billion (+8.1%) 2. Electric machines, appliances and electrical engineering. Goods 704 million (+22.1%) 3. Wood and its derivatives, charcoal 452 million (+16.4%)
4. Plastics and products made from them 296 million (+28%)
5. Inorganic chemicals 231 million (+34.8%)
6. Optical/photographic/measuring/testing instruments 126 million (-11.8%) 7. Miscellaneous chemical products 149 million (+8.2%) 8. Paper and cardboard 173 million (+47.7%)
9. Iron and Steel 148 million (+27.2%)
10. Mineral fuels, mineral oils 135 million (+206.7%)
Import of goods 1st half of 2022
(in EUR and percentage change from the first half of 2021):
1. Boilers, machines, appliances and mechanical appliances 848 million (+33.1%) 2. Machines, electrical appliances and electrotechnical appliances Goods 620 million (+33.9%)
3. Plastics and its products 288 million (+33.3%)
4. Tractors, motor vehicles, motorcycles, non-rail. Vehicles 226 million (+12.1%)
5. Iron or steel goods 165 million (+33.5%)
6. Mineral fuels, mineral oils 157 million (+24.4%)
7. Iron and Steel 152 million (+65%)
8. Miscellaneous chemical products 134 million (+44.5%)
9. Wood and derivatives, charcoal 132 million (+25%)
10. Optical/photographic/measurement/test instruments 123 million (+18.6%)
Imports and exports are characterized by high prices
The product structure of Carinthia’s foreign trade in the first half of 2022 will continue to be characterized by the product groups “Boilers, Machines, Appliances and Mechanical Devices” and “Electrical Electrotechnical Machines, Appliances and Products”. The two product groups are closely linked in their value chain and determine the exchange of goods on the export and import side. Currently, the industry is particularly affected by the high purchase prices of the “iron and steel” sector and its products, which can be seen in growth rates of over 30% in imports of these product groups. It is even more gratifying that mechanical and plant engineering in Carinthia continues to show a very positive external trade balance.
Exports of “mineral fuels and mineral oils” show a huge increase of over 200%. “Paper and cardboard” also shows significant increases of almost 50%. With the exception of “optical and photographic instruments as well as measuring and testing instruments”, which fell by around 10%, all other product groups also increased strongly.
The picture is similar for imports of goods: here, too, high prices for imports of iron and steel and products produced from them are reflected. As expected, there was also growth of around 25% in the “mineral fuels and mineral oils” segment. Mandl: “Overall, almost all product groups are showing export and import growth. There are therefore minor changes in the goods structure of Carinthia’s foreign trade, but in principle the stable, broad-based and very differentiated export economy has proved its worth in times of crisis”.
Questions and contact:
Carinthia Chamber of Commerce
Department of Foreign Trade and EU
MMag. Hemma Kircher-Schneider
Phone 05 90 90 4 – 750
And [email protected]
wwwko.at/ktn