Economic Links between Austria and Eastern Europe Strengthened. Austria's Trade with the East in 1993/94

In 1993, Eastern Europe was one of the few regions in which Austria's export sector managed to increase sales. While total exports dropped by 4 percent, exports to the East rose by 5 percent. The growth of exports to the East accelerated in 1994. In contrast to other industrialized countries, however, Austria lost market shares in 1993 to the extent of about 6 percent. The stock of Austria's direct foreign investment in the East amounted to AS 12.5 billion at the end of 1992, to AS 20 billion in mid-1994. The most important destination of direct investment in the East is Hungary.