Value of exports and imports up sharply

The Austrian economy is reasserting itself, new figures show.Statistik Austria announced today (Fri) the value of exports carried out by Austrian companies increased by 16.5 per cent to 109.2 billion Euros last year compared to 2009. The state agency however pointed out that 2009 figures had shown a 19 per cent decline compared to 2008.Firms based in Austria imported goods worth 113.5 billion Euros in 2010, up by 16.3 per cent compared to the year before. The 2009 import survey revealed a 15 per cent drop to 2008.Only yesterday, the Viennese Institute for Economic Research (WIFO) said more exports were a key aspect for an increase of the Austrian gross domestic product (GDP) in the final three months of 2010. WIFO experts explained the GDP was 0.8 per cent higher between October and December 2010 than in the third quarter of the same year.