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Business

Austria swings into trade deficit

Latest update : 2009-03-09

Austria ran up a trade deficit of 1.8 billion euros in 2008, the biggest trade deficit since 2003, as imports grew faster than exports, official data showed Monday.

AFP - Austria swung into a trade deficit last year as imports grew faster than exports, official data showed Monday.

Austria ran up a trade deficit of 1.80 billion euros (2.3 billion dollars) in 2008, compared with a surplus of 425 million euros in 2007, Statistik Austria said.

It was the biggest trade deficit since 2003.

Exports grew 2.3 percent to 117.3 billion euros, while imports rose 4.3 percent to 119.1 billion euros, a statement said.

In December alone, the trade deficit widened to 743.2 million euros from 444 million euros in November and compared with a deficit of 467.7 million euros in December 2007.

Date created : 2009-03-09

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