Exports to China increased by nearly 100 percent from 2008 to 2012, while the German export market decreased during the same period.
Although Germany remains the country’s largest export market, markets outside Europe are now showing the largest degree of growth. The new figures from Danmarks Statistik reveal a change in Danish export patterns.
Growth outside of the EU
Export markets outside the EU now account for the largest increase in Danish exports abroad. China jumped from being Denmark’s 12th biggest trading partner in 2008 to being the sixth largest export market for Danish companies in 2012.
Exports to the BRIC countries rose by 49 percent, with China accounting for almost half that growth. Exports to the US increased by 31 percent. Small and medium businesses contributed 46 percent of Danish exports to the world market in 2012, tallying a total of 220 billion kroner in exports.
Big growth in big pharma
“It is gratifying that small and medium businesses contributed so much to the world market,” said Donald Hoffman, the vice president of the business authority Erhvervsstyrelsen, in a statement.
The Danish pharmaceutical industry showed the sharpest increase, growing 65 percent since 2008.
The US was the pharmaceutical industry's biggest export market in 2012, accounting for nearly 25 percent of total exports. China and Brazil were second and third biggest.