Key indicators: International growth isn’t rubbing off on Danish exports
High international demand hasn’t boosted Danish exports, shows new data from Statistics Denmark.
Exports fell by 1.9% in August. However, over the past three months exports have increased by 4.1%, shows new data from Statistics Denmark.
“Exports faced headwinds again in August. We had seen some progress over the summer, but once again exports disappointed, and unfortunately this has been the case regularly over the past year and a half,” says Senior Analyst Allan Sørensen, the Confederation of Danish Industry.
Exports to the EU increased by 5.8% over the past three months, but in the same period exports to countries outside the EU increased by just 1.7%.
See also: Key indicators: Denmark headed towards lowest annual exports since financial crisis
An increase in exports creates activity in all of Denmark. Senior Analyst Allan Sørensen, the Confederation of Danish Industry
“It’s a shame that high demand abroad hasn’t increased Danish exports more. It is particularly exports to countries outside the EU that are lagging behind. According to a new forecast from the IMF, growth will decrease slightly in our largest export markets, but it should still be strong enough to secure more orders for our export companies,” says Allan Sørensen.
A new study from the Confederation of Danish Industry shows that 805,000 Danish jobs are dependent on exports – the highest level ever.
“A record number of Danish jobs depend on exports, and it is therefore crucial that overseas sales pick up soon. The jobs are spread across the entire country, and an increase in exports therefore creates activity in all of Denmark,” says Allan Sørensen.
See also: DI: Foreign employees are highly important for our growth and welfare
