Austria in Central Europe is a rapidly evolving economy with divergent rates of imports and exports ranging from industrial goods to agricultural goods serving the annual trade revenue of the nation. This highly developed country with a majority of the workforce engaged in the farming and trade sector along with the continuous efforts of the government has recorded a total trade value of 320 billion US dollars in 2023. With a land area of 83,879 square kilometers and a population of 8.9 million, the country records itself as one of the largest countries in the world.
The government initiatives along with the vast range of natural reserves like oil, minerals, and fuels have boosted the export trade rate of 2023 by a rate of 6% worth 350 billion US dollars. The strong manufacturing sector, increased foreign investments and favorable government policies are the reason behind the expanding trade which has led to a GDP of 473 billion US dollars in 2023.
