Austria-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $28.52B total volume •Austria deficit: $1.51B
Austria → Italy
$13.51B
Exports (2023)
Italy → Austria
$15.02B
Imports (2023)
Trade Balance
$1.51B
Deficit for Austria
Total Trade
$28.52B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Austria and Italy. Green line shows exports from Austria, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Austria-Italy commercial relationship and competitive positioning in global markets.
Austria → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Austria's export portfolio to Italy demonstrates strong diversification across multiple sectors, with wood: coniferous species, of fir (abies spp.) and spruce (picea spp.), sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, of a thickness exceeding 6mm representing a key competitive advantage in this bilateral market.
Italy → Austria Imports
Import Dependency Profile
📦 Import Strategy Analysis
Austria's import pattern from Italy reveals strategic sourcingin petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Austria demonstrates competitive strength in exportingwood: coniferous species, of fir (abies spp.) and spruce (picea spp.), sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, of a thickness exceeding 6mm to Italy, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $28.52B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Austria-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $28.52 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Austria maintains a deficit of $1.51 billion
- Export Focus: Austria's primary exports include wood: coniferous species, of fir (abies spp.) and spruce (picea spp.), sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, of a thickness exceeding 6mm, blood, human or animal, antisera, other blood fractions and immunological products: antisera and other blood fractions, copper: refined, unwrought, cathodes and sections of cathodes
- Import Dependencies: Key imports from Italy include petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, vehicle parts and accessories: n.e.c. in heading no. 8708
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $28.52B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Austria leveraging its comparative advantages in wood: coniferous species, of fir (abies spp.) and spruce (picea spp.), sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, of a thickness exceeding 6mm.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Austria's specialization in wood: coniferous species, of fir (abies spp.) and spruce (picea spp.), sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, of a thickness exceeding 6mmcomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $28.52B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $28.52B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $28.52 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in wood: coniferous species, of fir (abies spp.) and spruce (picea spp.), sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, of a thickness exceeding 6mm and petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Austria's trade deficit of $1.51 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Austria and Italy represents a total trade volume of $28.52 billion in 2023. This partnership demonstrates an unfavorable trade balance for Austria, with imports exceeding exportsby $1.51 billion.
Export Strengths
Austria's exports to Italy total $13.51 billion, with competitive advantages in wood: coniferous species, of fir (abies spp.) and spruce (picea spp.), sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, of a thickness exceeding 6mm, representing $690.89M or5.1% of bilateral exports.
Import Dependencies
Imports from Italy amount to $15.02 billion, highlighting economic interdependence in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, with Petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas comprising4.2% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Austria's strategic sourcing from Italy. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
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Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023