6 September 2004 • Potential Markets for Austrian Exports • Jan Stankovsky, Yvonne Wolfmayr

Austrian exports continue to be focused on Western Europe, in spite of brisk expansion rates achieved for Central and Eastern European markets. In order to better exploit opportunities offered to Austrian exporters, it would therefore be desirable to aim at diversifying exports by expanding into dynamic countries outside the traditional markets. The study presents looks at 81 countries outside Western Europe and investigates them for their suitability as focus markets for Austrian exports. They were chosen based on indicators of market size, demand development and degree to which their import structure matches the Austrian export structure, as well as a business survey of motivations and obstacles to exports, market share analyses and an econometric estimate of medium-term export potentials.

A total of 30 countries were identified as potential focus countries (13 CEECs, 14 non-European potential markets and 3 overseas industrialised countries). The list includes the eight new EU members in Central Europe, with the best export growth opportunities identified in Hungary, the Czech Republic and Slovakia. Russia should also be included. Promising regional focus markets are pinpointed in the Western Balkans (Croatia, Bosnia-Herzegovina, Serbia, Albania, Macedonia). As to markets outside Europe, prospects in Asia are excellent with regard to China and Vietnam and – in specific sectors – India and South Korea, whereas Turkey, Jordan, South Africa and Algeria are potential candidates in the Near East and Africa. In Latin America, sales prospects are excellent in Brazil, Argentina, Guatemala, El Salvador, Peru and Mexico. Furthermore, the industrialised states overseas continue to be important export markets: the USA, but also Canada and Australia are recommended as potential focus countries.

Vienna, 3 September 2004.

For further information, please refer to Jan Stankovsky or Yvonne Wolfmayr, phone (1) 798 26 01, ext. 253, E-Mail-addresses Jan.Stankovsky@wifo.ac.at, Yvonne.Wolfmayr@wifo.ac.at For the full text of this article see the Internet under http://www.wifo.ac.at