Danish exports to the US fell in February. This is shown by figures from Statistics Denmark on Thursday.
In February, total exports of goods and services to the US were 25 billion kroner. This is 0.7 billion kroner less than in January. Total Danish exports also fell from January to February. Here, the decline is 3.7 percent to 167.9 billion kroner. Both total exports and exports to the US also fell in January. Here, the decline in exports to the US was around 26 percent.
The fact that exports are falling further in February after a significant decline in January is called "a bit of a shock" by Tore Stramer. He is chief economist at Dansk Erhverv.
- Unfortunately, I am a bit worried about Danish exports, he writes in a comment.
- The American economy has shown signs of weakness for a period of time, while the higher tariffs also challenge Danish companies' sales opportunities on the American market, he continues.
Søren Kristensen, chief economist at AL Sydbank, also notes that Danish export companies have had a "terrible start to the year". Still, one should be careful about interpreting figures from just a few months, he points out.
There can be fluctuations from month to month, just as there can also be shifts around the turn of the year. And then prices in the pharmaceutical industry have fallen.
- This may seem to be a result of lower prices in the USA, where the pharmaceutical industry has been subjected to pressure in that direction. At the same time, it is not something that is so far supported by other figures for the Danish economy, writes Søren Kristensen in a comment.
He and his colleagues at AL Sydbank are therefore not "overly concerned", but the figures still mean that developments will be kept extra close watch in the coming time.
/ritzau/
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