Exporting to Austria
Strong and growing economy
This year, Austria was ranked 9th in Europe for its GDP per capita (IMF, 2019). UK exports to Austria in both services and goods continue to rise steadily and have risen by 36.2% between 2013 and 2018 (ONS, 2019).
Gateway to central and eastern Europe
Austria is a landlocked country in central Europe, sharing borders with 8 countries. Its location and excellent distribution, logistic and service links make it an ideal place to access the markets of central and eastern Europe.
If your product or service is successful in the UK, there’s a good chance of success in Austria too. It’s a similar market to the UK with similar business risks and requirements.
Opportunities for exporters
There are opportunities for UK companies across a broad range of industries. Our trade advisers in Austria have identified particular opportunities for UK businesses in the following sectors.
Major part of Austria’s economy
Pharmaceutical products were one of the top 5 categories of goods exported from the UK to Austria in the year ended March 2019 (ONS, 2019). One of the draws for UK pharmaceutical exporters is the opportunity to benefit from the research expertise of Austrian bioscientists and work with distinguished producers, suppliers and service providers.
Demand for expertise in digital health
There is growing demand for digital health products and services to meet the demands from an ageing population.
Demand for expertise in fintech
Austria has limited domestic expertise in fintech and this presents a major opportunity to UK exporters to sell their service.
Demand for expertise in cybersecurity
There is also a growing demand for cybersecurity products and services within Austria's financial sector.
Railway supply chain
There are opportunities for UK exporters in the supply chain for Austria’s original equipment manufacturers (OEMs).
Innovative technology hubs
There are opportunities for UK companies to work in technology hubs that specialise in innovative technology around the railway sector in Austria. They have a close connection to educational institutions and their research and co-operation programmes strengthen the international competitiveness of companies in this area.