Austrian exports rise 1.2 per cent

VIENNA, Oct 9 (Xinhua): Austrian exports have increased 1.2 per cent to US$94.3 billion from January to July of this year despite considerable contractions in exports to Russia and Ukraine.
The Austrian Federal Economic Chambers (WKO) said Wednesday that EU sanctions due to the ongoing political crisis between Russia and Ukraine have resulted in export collapses to the two countries of 12.6 per cent and 12.2 per cent respectively.
President of the WKO Christoph Leitl said despite the setbacks Austria can expect "export growth, even if small" for the entire year, the Finanzen business newspaper reported.
Exports to main trading partner Germany increased 1.1 per cent for the first seven months of the year, while other significant export increases were recorded with the USA (6.7 per cent), Canada (11.9 per cent), Saudi Arabia (9.9 per cent), and United Arab Emirates (12.8 per cent).
Additionally the "Go International" programme to promote Austrian exports abroad has had its funding increased by $3.2 million, to aid mainly small to medium-sized Austrian companies in developing new export markets.
Under the programme companies that have business with Russia and Ukraine can apply for additional funding to find "replacement markets," Leitl said.
Minister of Economy Reinhold Mitterlehner also affirmed government support for Austrian businesses in a press release Wednesday, stating that the companies affected by the Russia and Ukraine crisis will be supported even more intensively, and that market development in countries such as China should be strengthened.