By Alice Mitchell, Export-USA.com Editor;
2008-12-20


Austria’s membership in the European Union has drawn, implicitly, a number of foreign investors. The high standard of living has lead to a competitive business environment which, ultimately, made it an attractive investment location. Germany, Switzerland and China are United States’ main competitors on the Austrian market.


Austrian agricultural, fish and forestry imports grew, in 2007, by 11.1 percent, compared to 2006. Imports from the U.S. grew from 2006 when it reached $95 billion, to an estimated $110 in 2008. According to the Austrian official customs reports, this years’ agricultural imports from the U.S. are estimated to grow and even double.


For the next years, exports to Austria are optimistic. Best opportunities for U.S. exporters in the alimentation sector include: health and organic food, seafood, dried fruits and nuts, wine and snack foods.
Demand for dried foods such as prunes, apricots and different kinds of nuts, which are main ingredients for cereals, is continuously growing.


That is because Austrian production in this sector is very limited. They only produce small amounts of apples and walnuts. Although Turkey and Germany are Austria’s main suppliers of these products, imports from U.S. are also significant, reaching, this year, an estimated $20 million.


The wine market also offers good prospects for U.S. exporters. Austria prefers to import red wine from the U.S. due to its good quality and low price. Because of the increasing demand, U.S. suppliers are also increasing the price. U.S.’s main competitor for the wine market is Chile. For this year, U.S. wine imports in Austria are estimated to $3.5 million, with half a million more than 2006.


The rising standard of living and the number of seafood restaurants, which has grown considerably in the last years, has determined a higher demand for fish products. For this year, Austrian imports of seafood products from the U.S. are estimated to reach $2.5 million.


As with most products, transshipments through other EU countries do not show actual product origin. We estimate actual imports from the United States to be $2.5 million and the prospects are optimistic for the following years due to health awareness.


The best prospects for the U.S. exporters in Austria are the computer software and services. This market, which includes environmental technologies, information and communication technologies, aerospace, medical and pharmaceutical, has a great potential for U.S. exporters. Total imports from the U.S. reached, in 2006, $2.527 million.


Medical devices and OTC products also offer good market opportunities for U.S. exporters of medical equipment because Austria imports the majority of the medical equipment it uses. This include: mobile units for radiography, dental classical and panoramic systems, high frequency generators, x-ray tubes, pulmonary radiography units, digital cardiac and vascular systems, computed tomography (CT) scanners, ultrasound units, and also OTC products such as instruments and small electronic devices used for measuring blood pressure, fever and diabetes.


The U.S. is ranked second among foreign suppliers in this sector, following German companies. This is a sophisticated market but, in the same time, a well-served one. U.S. exporters have a real chance of competing with German companies because of price and innovation, which has built its good reputation over the years.


U.S. exporters could improve their market position and be more aggressive, taking into account that their best advantage is the price. German electro-medical products cost with more than 15 percent, compared to U.S. products. In 2006, U.S. imports reached an estimated $258.9 million these are also estimated to increase by an annual growth rate of 10 percent.


The U.S. is also an important supplier for Austrian dental equipments such as x-ray equipment, computerized systems, and dental drills. It is ranked the third among other suppliers and exports to Austria have reached, in 2007, an estimated $4.9 million. Two important factors which guarantee successful exports in Austria are service support and availability of technical assistance.


All things considered, the United States have an excellent reputation in Austria which helps U.S. exporters when trying to win over any market from this country.
Disclaimer: This article is for informative purposes only and was comprised from various sources believed to be reliable. However, Export-USA does not make any warranty regarding the accuracy of the information in this article. Always check with a specialist and do your own research before engaging in international trade.