Austria / Fact Sheets / Facts about the Austrian-Iranian trade relations
Thursday, October 28, 2021

Facts about the Austrian-Iranian trade relations

  • In November 2006 the president of the Iranian Chamber of Commerce Khamoushi emphasized: “Austria is the gate to the European Union for us”. The Iranian Minister of Finance and Commerce Davoud Davoud Jarari underlined Iran's strategic position in the Middle East as well as Austria's unique position in Europe and called for expanding mutual trade relations. In 2009, president of the Austrian Economic Chambers WKO Christoph Leitl hailed the "excellent trade relations" between Austria and Iran. And most recently in 2013, also the Austrian Ministry of Foreign Affairs talked of "traditionally good economic ties" with Iran.

  • Austria has long been one of the European countries which could boost its exports to Iran despite sanctions efforts. In 2009, Austria exported goods worth about 350 million Euros to Iran, which is a 6% rise as compared to the previous year and even more impressive given the fact that Austrian over-all exports dropped about 20% in 2009 due to the economic crisis. Wolfram Moritz, responsible manager for the region at the Austrian Economic Chambers WKO, announced in 2010: "There is no decline in requests about information on exports to Iran." Roughly two thirds of the exports are machinery products and vehicles. Another 15% are chemical products. Due to further sanctions imposed on the Iranian regime, Austrian exports to and imports from Iran have decreased. However the Austrian trade volume is currently still in the hundreds of millions: From June 2012 until May 2013 imports amounted to more than 11 million Euros, exports even to more than 207 million Euros.

  • Until 2011 Austrian exports to Iran were secured by the government through export credit and investment guarantees offered via Oesterreichische Kontrollbank AG. According to EU sanctions there is currently no such option except for humanitarian goods. Back in 2005 Iran ranked number 5 among those nations which profited from such guarantees, according to Kontrollbank. Further, Austrian-Iranian agreements on the protection of investment and on double-taxation have been in place since 2004.

  • About 650 Austrian companies are doing business in Iran. 35 of them have their own representations in the country. Numerous renowned Austrian companies have taken part in various trade fairs and industry exhibitions in Tehran over the last years to initiate business.
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