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DENMARK: Exports expected to increase 4.5% in 2018

Rosy outlook for Danish exports
posted onSeptember 7, 2017

A new report by the Danish Foreign Ministry predicts that Danish exports are set to increase 5.2 per cent this year and 4.5 percent next year. According to the report, exports to Germany, the US, Norway, Sweden and China are expected to increase in 2017, while in 2018 exports to Germany, Sweden, the Netherlands and China are predicted to provide a further boost.

“A positive export development is imperative for growth, employment and welfare in Denmark,”The Copenhagen Post  quoted Anders Samuelsen, Denmark's foreign minister as saying. “About every fourth job in Denmark is directly dependent on exports and this year and the next, exports looks to account for half of all growth in the Danish economy. So it’s important that we retain and strengthen Denmark’s ability to compete” Samuelsen added.

The export prediction is based on information from Oxford Economics regarding global economic development evaluations.

According to data by Trading Economics exports from Denmark rose 5 percent year-on-year to DKK 57.6 billion ($ 8.97 billlion) in June 2017, boosted by sales of transport equipment (12.3 percent); vessels and aircraft (167.1 percent); manufactured goods (25 percent); machinery (5.7 percent); mineral fuels, lubricants and related (14.8 percent) and live animals, food, beverages and tobacco (4.9 percent).

Danish exports

In 2016, according to figures from the Danish Statistics Office, Denmark's principal exports were: Machinery (23 percent of total exports); chemicals and related products (21 percent); live animals, food, beverages and tobacco (19 percent); miscellaneous manufactured articles (17 percent); and manufactured goods classified chiefly by material (9 percent). Danish major export partners were Germany (16 percent of total imports), Sweden (12 percent), the US (8 percent), the UK and Norway (6 percent each), and the Netherlands (5 percent).

The total amount of Danish exported goods decreased 0.3 percent from 2015 to 2016. Since 2011, the development in Danish exported goods has been very slow, with only small increases and even small annual decreases. The total Danish exports make up around half of the Danish GDP.