For Austria, our exports for the first quarter 2013 suggests, that we will have a new record in our exports to Libya. Even higher than the previous peak in 2010. Interestingly, this time consumer products, tools and light machinery and pharmaceuticals dominate our exports. WIth consumer products one can observe new products on a weekly basis.
Tools and construction materials are needed to fulfill demand in the equally booming private construction sector. With so much money around, liquidity is being absorbed not by the banking systems (people do not trust banks) but by housing. Even though those houses remain empty after construction, the firm believe is, that there, money is safe. But for how long will this boom last ?
Well, only for few years....
Thanks for keeping us well informed about the economy. I hope that you continue spreading great informations.
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