Latvian-Austrian Economic Relations 1918-1940

• In Event: Latvian Society, Economy, and Security during the Interwar Period

Abstract

Latvia and Austria have traditionally close, friendly and versatile relations. This paper provides an overview of Latvian-Austrian economic relations in the interwar period. Austria established formal diplomatic relations (de iure) with Latvia on 17 February 1921. In the interwar period, Latvian and Austrian economic relations were mainly confined to foreign trade. A Commercial and Navigation Treaty between Latvia and Austria was concluded on 9 August 1924 and came into force on 26 July 1927. Latvia continued to trade with Austria as a separate entity after the 1938 Anschluss and it was designated as the territory of former Austria. Latvia’s main imports from Austria in the interwar period were scythes and sickles, woollen tube fabrics for technical purposes, glass globes for electric light bulbs, fireproof bricks, albumin, and bars and rods of iron and steel, whilst Latvia’s main exports to Austria were footwear of rubber (including galoshes), Šprotes and other fish conserves, rye, linen products (threads and waste), paper and paper products, and furs. In general, despite a growth spurt in trade after the signing of the trade treaty, trade and thus economic relations were of marginal significance to both countries in the interwar period.

Short Bio

Viesturs Pauls Karnups, Dr. oec. Professor Emeritus in international economic relations and economic history at the University of Latvia (LU), Director of the LU North American Studies Centre. Senior researcher at the LU Scientific Institute of Economics and Management. Was a Fulbright research scholar in 2008 at Georgetown University, Washington D.C., USA. Visiting professor at Helsinki University, Finland, Rijeka University, Croatia and Kyungpook National University, Daegu, South Korea. Has published extensively on Latvian economic history and international economics. Recently (2022) published a monograph: “The Little Country that Could: Latvian Economic Relations and Foreign Trade with Various Countries in the Interwar Period”.

Author

• Viesturs Pauls Karnups, University of Latvia