FIW Annual Report

The present FIW Annual Report is devoted to the current development of the
Austrian foreign trade. First, in chapter 2 the changed
international framework conditions are presented and discussed. Here, the significant global economic slowdown as a result of the Russian war of aggression against Ukraine becomes apparent. Global economic growth in 2022 was a moderate 3.4 percent. High commodity and energy prices are weighing on production, and the necessary monetary tightening measures are worsening the investment climate and dampening global foreign direct investment activity. The forecast for 2023 and 2024 reflects the global economic downturn, which has already begun to emerge in recent months and is expected to advance in 2023. According to the forecast, exports of goods and services will grow by just 0.3 percent in real terms in 2023.