• Coronavirus in Hungary
  • coronavirus
  • Budapest
  • Covid immunity certificate in Hungary
  • Covid immunity certificate/vaccine passport
  • Hungary border control
  • HelloMagyar
Austria registers biggest economic slump since World War IIAustria registers biggest economic slump since World War IIAustria registers biggest economic slump since World War IIAustria registers biggest economic slump since World War II
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Support us
Daily News Daily News · 28/09/2020
· World

Austria registers biggest economic slump since World War II

Austria coronavirus economy
vienna austria

Austria’s economy registered the biggest slump since World War II in the second quarter of 2020, according to a report published by an independent and non-profit federal institution here on Monday.

Austria’s gross domestic product (GDP) dropped by 12.1 percent in volume terms during the second quarter of 2020 compared with the first quarter and fell 14.3 percent year-on-year, Statistics Austria said in a report published on its website.

“This is the sharpest decline since World War II,” said co-director general Tobias Thomas of Statistics Austria.

The accommodation and gastronomy sector has born the brunt of COVID-19 lockdowns, with a real decline of 61.1 percent compared with the same quarter of the previous year and 65.2 percent compared with the previous quarter, according to the report.

It is followed by the entertainment and culture sector, which fell 35.3 percent year-on-year and 27.0 percent from the previous quarter.

Foreign trade has also been hit hard.

In the months from April to June, imports and exports fell 17.4 percent and 18.1 percent year-on-year separately and dropped both by 13.2 percent compared with the first three months of 2020.

China, the United States and Switzerland were the most important non-EU trading partners for the Alpine country in terms of imports and exports in 2019, according to Statistics Austria.

  • Hungary, Austria take similar measures to halt epidemic, says minister in Vienna
reggeli railjet railway
Read alsoBBC’s Great Continental Railway Journeys features a “Hungary to Austria” trip – Video

Source: Xinhua

Austria coronavirus economy
Share
Daily News
Daily News

Related posts

26/05/2022

Importance of data security for start-ups in Australia


Read more
IT
25/05/2022

Why hire a Magento Developer?


Read more
rating-economy
25/05/2022

3 ways to make a solid side income


Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US
Latest news
  • Prince Charles is in this Hungarian village in Transylvania – PHOTOS
  • Hungarian woman who killed, dismembered ex-partner in Vienna sentenced
  • Hungarian Government is making Wizz Air pay extra taxes!
  • Orbán meets Le Pen: ‘Europeans must be protected’

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

About us

Contact us

© 2022 DailyNewsHungary. All rights reserved!
Posting....