Mexico and Austria are celebrating diplomatic history that spans over 180 years, evolving from cultural exchanges to a dynamic partnership driven by trade, technology, and industrial innovation.
Relations were first established on July 30, 1842, through the signing of a Treaty of Friendship and Commerce. Mexico’s solidarity with Austria became evident during World War II, when in 1938 it was the only country to officially protest the Anschluss at the League of Nations and later welcomed around 1,500 Austrian refugees fleeing Nazi persecution. This support continued with Mexico’s backing in international discussions related to the South Tyrol question and the Austrian State Treaty of 1955.
Bilateral Trade
According to the Mexican Ministry of Economy, by 2024, the relationship between the two nations had evolved into a strong commercial partnership, though largely asymmetrical. Mexico mainly exports motor cars and vehicles for passenger transport (US$50.3 million) to Austria. These vehicles mainly originate from San Luis Potosi, Mexico City, and Guanajuato. On the other hand, Austria’s main exports to Mexico are piston and rotary engines valued at US$320 million, with the top recipients being Mexico City (US$481 million), San Luis Potosi (US$397 million), and Queretaro (US$297 million).
The trade balance remains negative for Mexico, with US$154 million in exports versus US$2.51 billion in imports, creating a net deficit of US$2.36 billion. Austria represents 0.025% of Mexico’s exports and 0.4% of its imports.
Mexico and Austria do not have a bilateral free trade agreement; however, trade between both nations is facilitated through the EU‑Mexico Free Trade Agreement, which covers all European Union member states, including Austria.
Austrian Investment in Mexico
Foreign Direct Investment (FDI) from Austria reached US$30.9 million in 2024, mostly in inter‑company loans (US$29.7 million). Cumulatively, from 1999 to 2024, Mexico has received US$1.13 billion in Austrian investment, with Coahuila, State of Mexico, and Queretaro as the main beneficiaries. But for 2024 alone, the states that received the highest FDI from Austria were Coahuila, Queretaro, and Guanajuato.
To date, 233 Austrian companies operate in Mexico, concentrated in the State of Mexico, Coahuila, Mexico City, and Queretaro, with a focus on manufacturing, automotive, and industrial technologies, states the Mexican Senate.
Austrian Innovation in Mexico: Doppelmayr and ENGEL Lead the Way
Austria’s economic footprint in Mexico is not only measured in trade but also in technological contributions. For example, global leader in ropeway and cable car systems Doppelmayr has transformed urban mobility and tourism infrastructure in Mexico with projects such as:
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Cablebús Line 1 (Mexico City, 2021): 9.2 km, serving 50,000 passengers daily
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Cablebús Line 3 (Mexico City, 2024): 5.4 km, designed for 36 million passengers annually
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Aerotrén (Mexico City Airport, 2007): Connecting Terminals 1 and 2
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And a cablecar in Uruapan, Michoacan, which is still in the works
Another major Austrian player, ENGEL, announced in March the expansion of its injection molding and automation operations in Queretaro, investing MX$1.1 billion (US$54.26 million) to create 515 new jobs.
Austria’s Economic Outlook
Austria, with a population of 9.17 million and GDP of US$521.6 billion in 2024, is navigating economic headwinds, according to the World Bank. The European Commission projects a third consecutive year of recession in 2025, driven by weak investment and declining exports, with recovery expected in 2026.
Austria’s industrial economy is driven by its highly specialized SMEs, with a strong focus on engineering, manufacturing, and high-value exports. According to data from Statistics Austria, in 2024, machinery and vehicles remained the backbone of Austria’s international trade, accounting for €70.93 billion or 37.1% of total exports, despite a 5.8% decline from the previous year. Manufactured goods, including metals and industrial components, followed with €37.91 billion (19.8%), while chemical and automotive products contributed €33.24 billion (17.3%), both reflecting moderate contractions amid global trade headwinds. Electronics, electrical components, and wood and paper products represented €18.99 billion (9.9%), also down 4.4%. Notably, food and drink exports rose 6% to €12.72 billion, and crude material exports grew 5.6% to €5.79 billion, highlighting resilience in consumer-oriented and raw material sectors. Altogether, 84.2% of Austria’s exports were concentrated in its industrial base, underscoring the country’s engineering-driven economy and its continued role as a high-value exporter despite a challenging global environment.
Latin America accounts for 1.5% of Austria’s trade, with Mexico as the top partner representing 47% of Austrian exports to Latin America and in imports Mexico is the top source in the region.