Danish companies have increased their exports to the US in September. In September, Danish companies sold goods and services to the US for 31.8 billion kroner. This is an increase of around ten percent compared to the previous month. At the same time, it is also slightly more than in September 2024. This is shown by figures from Statistics Denmark.
Kristian Skriver, a senior economist at the Danish Confederation of Business, notes that the progress has occurred despite difficult conditions.
- It is particularly great that exports to the US are increasing nicely despite solid headwinds at the moment, he writes in a comment.
- The combination of the US tariff of 15 percent on goods exported from Denmark to the US and a significant weakening of the US dollar is contributing to the deterioration of Danish companies' competitiveness in the US, it continues.
The majority of goods exports to the US consist of goods that do not cross the Danish border. This means that these are goods that Danish companies have produced in the USA or another country and subsequently sold in the USA. Exports of goods crossing the Danish border amounted to 4.6 billion kroner in September. This is an increase of almost 19 percent from August, but less than in September 2024.
The USA is the largest export market
Kristian Skriver points out that it is particularly export companies that send goods across the US border that feel the negative effects of tariffs.
The USA is the country to which Danish companies export the most. This is followed by Germany, to which Danish companies sold goods and services worth 21.3 billion kroner in September.
Kristian Skriver is "cautiously optimistic" about Danish exports in the future. But it is not the conditions in the American market that offer prospects for growth.
- The great hope is that there will be more tailwind from the Danish neighboring markets such as Sweden and Germany, where economic development has been weak in recent years, writes Kristian Skriver.
Both exports to Sweden and Germany have increased from August to September. Overall, Danish companies exported goods and services worth 181.7 billion kroner in September.
/ritzau/
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