Austria's Trade with the East on the Upswing

After a setback in 1986 and 1987, Austria's exports to the East in 1988 were again on the increase (+13.3 percent) Imports from the East also rose (+2.7 percent). The pick-up in trade with the East is likely to continue into 1989 and 1990. The Eastern countries' gross indebtedness to Austria rose from AS 150 billion at the end of 1987 to more than AS 165 billion at the end of 1988. Austria's share in the East's liabilities is about 9 percent. Austrian transit trade plays an important role in facilitating trade between East and West. It fulfills a special function in meeting the conditions of countertrade agreements. Austria's transit exports totalled AS 54 billion in 1988, 20.5 percent more than in 1987.