Austria Trade Balance Turns To Deficit In July

(RTTNews) - Austria's trade balance turned to a deficit in July from a surplus in the previous year as exports fell amid an increase in imports, data from Statistics Austria showed on Wednesday.

The trade balance registered a shortfall of EUR 1.89 billion in July, versus a surplus of EUR 0.71 billion in the same month last year.

There was a negative trade balance with European Union member states of EUR 0.42 billion in July.

Exports plunged 11.9 percent annually in July, while imports climbed 3.4 percent.

"International demand for machinery and vehicles, the most important product group in the Austrian export industry, is currently particularly weak, but domestic demand is higher than in July last year," Manuela Lenk, Director General of Statistics at Statistics Austria, said.