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20. 01. 12. - 17:15

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20. 01. 12. - 17:15

Agricultural exports soar up

Austria’s farmers exported more than ever before last year, according to new figures.

Agrarmarkt Austria (AMA) said yesterday (Thurs) that the value of exports of the country’s agricultural and food production sector soared by 16.1 per cent to nine billion Euros from 2010 to 2011. The information and regulation authority added that imported products were worth 9.4 billion Euros. This is an increase of 8.6 per cent, according to AMA.

AMA explained that the sector’s export branch benefited from economic growth in important partner countries like Germany, Switzerland and the United States. Figures show that neighbouring Germany remained Austria’s most important export business partner. The value of exports to the country was recorded as 2.9 billion Euros.

Italy and Hungary are other crucial markets for the domestic agricultural industry. It has to be seen whether the economic turmoil in Europe affects the countries’ import activities. Both Italy and Hungary are challenged by rising interest rates on government bonds, high debts and considerable budget deficits.

Hungarian Prime Minister Viktor Orban is currently engaged in negotiations with the International Monetary Fund (IMF) and the European Union (EU) considering further provision of capital and credits. Orban is under fire for cooperating with the far-right Jobbik party and because of a string of disputed reforms which put the independence of the Hungarian National Bank and the country’s media at risk.

Italy’s new Prime Minister Mario Monti decided to launch a radical reform of the state’s economy. A liberalisation of various sectors should help get the cash-strapped country back on track, according to the former European commissioner. Monti’s team of experts recently succeeded the right-wing government coalition headed by Silvio Berlusconi. Experts warn that Italy is too large to be rescued from ruin by using funds of the European Financial Stability Facility (EFSF) which was established to support Greece, Portugal and Ireland.

News that the domestic agriculture industry managed to increase its exports comes only days after Austria’s wine trade presented excellent figures for 2011. The winemaking industry announced it was able to raise its value of exports by 2.6 per cent to 126 million Euros from 2010 to 2011 despite devastating thunderstorms and downpours and also extraordinarily dry periods.

Austria exported 122.8 million Euros worth of wine in 2010, up sharply from 2007 (104.2 million Euros) and 2006 when wine worth 81.5 million Euros was sold abroad. The vast part of sales occurred in Germany in 2011 at 55.6 per cent, according to domestic wine producers.

Austrian car dealers had a good year too as more cars than ever before were sold in the country. Federal research agency Statistik Austria said 356,145 new cars were registered in 2011, 8.4 per cent more than in 2010. Volkswagen (VW) was Austrians’ favourite brand once more, followed by Opel and Renault / Dacia.

Austrian Times

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