Identifier
Created
Classification
Origin
09VIENNA557
2009-05-08 12:43:00
UNCLASSIFIED
Embassy Vienna
Cable title:
U.S.-Austrian Trade Still Falling Sharply
how-toVZCZCXYZ0006 RR RUEHWEB DE RUEHVI #0557 1281243 ZNR UUUUU ZZH R 081243Z MAY 09 FM AMEMBASSY VIENNA TO RUEHC/SECSTATE WASHDC 2536 INFO RUCPDOC/DEPT OF COMMERCE WASHDC
UNCLAS VIENNA 000557
SIPDIS
E.O. 12958: N/A
TAGS: ETRD EIND BEXP ECON AU
SUBJECT: U.S.-Austrian Trade Still Falling Sharply
REF: VIENNA 354
UNCLAS VIENNA 000557
SIPDIS
E.O. 12958: N/A
TAGS: ETRD EIND BEXP ECON AU
SUBJECT: U.S.-Austrian Trade Still Falling Sharply
REF: VIENNA 354
1. Overall U.S.-Austria trade numbers continued to worsen in
January/February 2009. According to Austria's Federal Statistics
Office and Economic Chamber, U.S. trade with Austria suffered a
sharp decline with exports falling by 38.5 percent from
January/February 2008, and imports from Austria declining by 32.3
percent. U.S. Census figures, which differ slightly from Austrian
numbers, showed even sharper declines in exports of 36 percent and
imports of 46.1 percent.
2. Overall trade numbers continue to look bleak for the
export-driven Austrian economy (exports represent 60 percent of
Austria's GDP). Austrian exports worldwide have fallen by 25
percent (a decline of almost 5 billion EUR) and imports have
declined by 20.1 percent. The machinery and auto-parts industries
continue to show the sharpest decline, falling by a total of 31.4
percent. Overall Austrian trade began to stabilize in February
(compared to January),but this does not apply to U.S.-Austrian
trade.
3. Anecdotally, the Embassy's U.S. Commercial Service office
continues to see strong demand for its services from U.S. exporters,
especially from small- and medium-sized companies. This demand is
stronger than over the same period last year.
KILNER
SIPDIS
E.O. 12958: N/A
TAGS: ETRD EIND BEXP ECON AU
SUBJECT: U.S.-Austrian Trade Still Falling Sharply
REF: VIENNA 354
1. Overall U.S.-Austria trade numbers continued to worsen in
January/February 2009. According to Austria's Federal Statistics
Office and Economic Chamber, U.S. trade with Austria suffered a
sharp decline with exports falling by 38.5 percent from
January/February 2008, and imports from Austria declining by 32.3
percent. U.S. Census figures, which differ slightly from Austrian
numbers, showed even sharper declines in exports of 36 percent and
imports of 46.1 percent.
2. Overall trade numbers continue to look bleak for the
export-driven Austrian economy (exports represent 60 percent of
Austria's GDP). Austrian exports worldwide have fallen by 25
percent (a decline of almost 5 billion EUR) and imports have
declined by 20.1 percent. The machinery and auto-parts industries
continue to show the sharpest decline, falling by a total of 31.4
percent. Overall Austrian trade began to stabilize in February
(compared to January),but this does not apply to U.S.-Austrian
trade.
3. Anecdotally, the Embassy's U.S. Commercial Service office
continues to see strong demand for its services from U.S. exporters,
especially from small- and medium-sized companies. This demand is
stronger than over the same period last year.
KILNER