Revision of effective exchange rate indices

  • Project team member:
  • Klaus Vondra (OeNB)

The effective exchange rate is an important indicator for the international competitiveness of Austrian producers in manufacturing and services. The new computation of the effective exchange rate index will account for changing regional structures in Austrian foreign trade and integrate relevant price and cost information. Changes in the effective exchange rate over time show adjustments in international competitiveness for manufacturing and services. The comparatively high share of tourism revenues in Austria's exports makes a special indicator for services particularly important. The computation of the effective exchange rate index follows conventions defined by the European Central Bank and is carried out in collaboration with the Austrian National Bank.