Austria’s exports fell by 2% in October, dropping to €17.32 billion, according to preliminary data from Statistik Austria.

The country’s four main export sectors – machinery and vehicles, processed goods, chemicals and other manufactured goods – saw a collective decline of 2.6%, reaching €14.63 billion compared to the same month last year.

The statistical agency attributes the drop to weaker industrial demand.

“At the same time, imports into Austria rose to €17.41 billion in October, an increase of 2.9%,” said Tobias Thomas, Director General of Statistik Austria. “There was an above-average increase in food imports, which rose by 16%.”

Gas imports, however, saw a decrease, with the value falling by 2.3% and the volume dropping by 2.2%. As a result, Austria’s trade balance for October recorded a deficit of €100 million.

Looking at the year-to-date figures, Austria’s exports from January to October 2024 dropped by 3.8%, reaching €161.30 billion. Meanwhile, imports during the same period fell by 8.3% to €157.72 billion, resulting in a trade surplus of €3.57 billion.