Austria is one of Europe’s wealthiest countries. Well positioned for trade, it presents UK companies with an appealing market, especially for high quality, innovative products and services.

Entry point to Europe

Located in central Europe, Austria borders no fewer than than eight countries. Additionally Austria’s superb distribution and logistics network and service links makes it a useful gateway to central and eastern European markets.

Expanding economy

In 2019, Austria ranked 9th in Europe for its per capita GDP (IMF). Between 2013 and 2018, UK exports of both goods and services to Austria rose by approximately 40%, reflecting its growing economy.

Parallel market

A similar market to the UK in terms of business risks and requirements, Austria is a useful testing ground. If a product or service has been successful in the Uk, it is likely to perform well in Austria too.

Exporting to Austria

VAT

It may be possible to zero rate goods exported to Austria if you are registered for VAT, provided that you meet certain conditions.

The VAT rate in Austria is 20% for the majority of manufactured goods and services. A lower rate of 10% applies to food, agricultural products and rent.

Payment terms

Austrian companies may require credit terms to buy your products and services, and payment conditions should be factored into prices. Terms range from payment upon receipt to 60 day terms. Late payment interest may be charged.

Routes to market

Although Austria consumers have many parallels with consumers in the UK, a translator and local distribution partners may be helpful. Some Austrian companies may have a preference for local trade, so businesses should validate their Unique Selling Points when considering exporting to Austria. Financial services, transport and life sciences are especially in-demand in Austria.  

Fast Facts

Ease of doing business

27th / 190 countries (World Bank, 2019)

Currency

Euro

Business language

German

Economic growth

2.7% (2019, IMF)

GDP per capita

£37,200 (IMF, 2018)

Time zone

GMT +1

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Posted 
February 23, 2021
 in 
Export
 category