The trade gap in Austria fell sharply to EUR 296.1 million in March of 2019 from EUR 553.2 million in the corresponding month of the previous year. Exports went down 0.9 percent from a year earlier to EUR 13.52 billion, due to lower exports from EU countries (-1.2 percent) and non-EU countries (-0.2 percent). Meanwhile, imports fell at a faster 2.7 percent to EUR 13.82 billion, dragged down by EU countries (-0.9 percent) and non-EU countries (-6.7 percent). Considering the first quarter of 2019, the trade deficit widened to EUR 1,116 million from EUR 953 million a year in the same period a year earlier, as imports climbed 4.7 percent to EUR 40.19 billion while exports advanced 4.4 percent to EUR 39.08 billion. Balance of Trade in Austria averaged -289.45 EUR Million from 1953 until 2019, reaching an all time high of 581 EUR Million in November of 2014 and a record low of -1256 EUR Million in April of 1991.
Balance of Trade in Austria is expected to be -800.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Austria to stand at -600.00 in 12 months time. In the long-term, the Austria Balance of Trade is projected to trend around -100.00 EUR Million in 2020, according to our econometric models.