FIW Annual Report

Against the backdrop of the COVID-19 pandemic, the Research Centre International Economics (FIW) provides an update of its annual report on the global and Austrian international trade developments including a short- and medium-term outlook. For Austria's total exports of goods and services, FIW assumes growth of 8.6 percent (price-adjusted) based on the forecast of the annual result for 2021. In 2022, this update expects export growth of 8.9 percent. The high export momentum in 2021 is due to trade in goods, which is expected to grow by around 10.6 percent. After 2020, services exports will probably have to accept a decline of 1.3 percent in 2021. This is mainly due to the weak winter season in travel.