Around 1923 the whole European film industry went into decline due to growing competition from the United States. American films could be exported to Europe very cheaply, because the production costs had already been earned back at the American box-office. The European film industry, divided into many different countries and many different languages, could not produce quality films at a low enough price to compete with the American imports. Another issue which affected Germany and Austria was the successful reining in of hyperinflation. Austrian films were no longer especially cheap and exports fell. As a result, Austrian film production had reduced by the mid-twenties to between 20 and 30 films per year, a level commensurate with its new greatly reduced size after World War I. In the whole silent movie era around 1,000 films were produced in Austria.