Denmark enjoying solid export growth

Danish exports of goods and services expected to increase in 2018 as well

The horizon looks considerably brighter for Denmark when it comes to export growth.

A new report from the Foreign Ministry shows an expected increase in exported goods of 5.2 percent this year and a 4.5 percent increase for 2018 – that’s an increase of 32 billion kroner this year and 29 billion kroner next year.

“A positive export development is imperative for growth, employment and welfare in Denmark,” said the foreign minister, Anders Samuelsen.

“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.”

READ MORE: Brexit fallout beginning to hit Danish fashion exports to the UK

Brexit woes
For this year, exports – particularly to Germany, the US and Norway – are expected to increase, as well as to Sweden and China. In 2018, exports to Germany, Sweden, the Netherlands and China are predicted to provide a further boost.

On the flip side, insecurity following Brexit has put a damper on exports to the UK – where the British Pound has already dropped by 20 percent in value compared to just two years ago.

The export prediction (here in Danish) is founded on information gleaned from Oxford Economics (OE) regarding global economic development evaluations.