India-Austria Foreign Trade
India’s exports to Austria
India’s exports to Austria remain on a constant growth path. After managing to maintain a subtle but still positive mark through the crisis year, exports have regained momentum and registered an increase by 15.6% year-on-year in 2011, with total export volume crossing the half-billion mark for the first time and amounting to €558.72 million. This is an increase by 210% in Indian exports to Austria in the decade 2002-2011. As far as India’s imports from Austria are concerned, trade has continued to prosper. In fact, a significant jump has been observed in the last two years following the crisis year. In 2011, India imported a volume of €817.74 million from Austria, marking a jump by 24.9% year-on-year and by 45% based on crisis-year levels. Imports mark an increase by 320% in the decade 2002-2011. Both Indian exports to Austria and Indian imports from Austria are found to be on a positive trend with large perspectives of further booms in the upcoming future given the observation of real opportunities in bilateral trade for both countries.
India’s imports from Austria
On the exports side, India’s exports to Austria in 20122 are mainly characterized by “Textile Yarn, Fabrics And Made-Up Articles”(+18.7% y-o-y), “Articles Of Apparel And Clothing Accessories”(+11.1% y-o-y) and “Footwear”(+30.2% y-o-y), together they account for approximately 40% of Indian exports to Austria. Following these, “Machinery and Transport Equipment” (+17.1% y-o-y) account for 26.6% of total exports and are followed by “Electrical Machinery”(+19.5% y-o-y) and “Road Vehicles”(+7.1% y-o-y). Attention must be given to the export volume of “Chemicals and Related products” (-3.1% y-o-y), which has decreased for the first time in years. The drop has been mainly pushed by -43.6% drop in exports of organic chemicals. This deserves special attention. Such a contraction was not observed even during crisis years. In fact, the average rate of growth in exports of “Chemicals and Related Products” for the previous four periods was approximately 23% p.a.