The Global Economy at a Turning Point?

Keynote Speech by Christoph Badelt at the 17th Carinthian Export Day
As keynote speaker at the 17th Carinthian Export Day on 3 July 2019 in Klagenfurt, WIFO Director Christoph Badelt took a look at the global economy and outlined possible effects on Austria. The event was organised in cooperation with Raiffeisen Landesbank Kärnten, the Carinthian Raiffeisen Banks and the Carinthian Chamber of Commerce.

Badelt explained that the flattening of the global economy in the course of 2018 was also seen as a form of normalisation after the extremely strong upswing in 2017 in industrialised and emerging countries. At present, the global economy is characterised by increasing divergence. According to Badelt, the Austrian economy is in a phase of moderate growth. While foreign trade is slowing the domestic economy, it continues to be supported by the domestic economy. Economic growth in Austria is expected to slow to an annual average of 1.7 percent in 2019 (2018 +2.7 percent) and to stabilise at 1.5 percent in 2020.

The organisers emphasised the central role of exports for the Carinthian economy: "The export of goods, know-how and services generated more than 9 billion € in Carinthia for the first time in 2018. In today's networked world, we have to look for business opportunities all over the world", explained Jürgen Mandl, President of the Carinthian Chamber of Commerce.

Throughout the day, 29 business delegates from all continents were available to the Carinthian entrepreneurs for talks and over 250 booked talks took place. Around 200 visitors used the Export Day for networking. Meinrad Höfferer, Head of Foreign Trade and EU in the Carinthian Chamber of Commerce, drew a positive conclusion: "The 17th Carinthian Export Day impressively showed that our federal state is heading into the future with highly innovative and very internationally oriented companies."