Danish trade to emerging economies is growing rapidly, according to a new study from the government’s export trade council, Eksportrådet.
Exports to 10 key foreign markets, including Brazil, China, India and South Korea, are expected to grow by 9.4 percent this year if the rate set during the first quarter of 2013 continues.
The value of these exports is expected to reach 70 billion kroner in 2013, up from 64 billion kroner in 2012, which will secure 50,000 Danish jobs.
“I hope the trend continues,” the trade and investment minister, Pia Olsen Dyhr (Socialistisk Folkeparti), told financial daily Børsen. “In 2012 and the first quarter of 2013 we ended a decade-long trend of losing market share to growing economies to our competitors.”
According to Eksportrådet, Denmark is gaining market share at the cost of its European neighbours such as Germany and Sweden, whose exports to these markets are expected to drop by 3 percent and 9.9 percent respectively this year.
The Foreign Ministry launched last year initiatives to aggressively target emerging economies and Dyhr argued the new figures demonstrate that the efforts have started to pay dividends.
“I think it is both the result of the government’s strategy for growth markets and the very active work by businesses,” Dyhr told Børsen. “Regardless of how good a product is, it doesn’t sell itself. Especially with growth markets, it’s important to maintain a massive political presence so that business can have the right contacts.”
