Status on Exports
After a record year in the growth of Danish exports to the U.S. in 2015 and stagnation in 2016, Danish exports are off to yet another significant increase according to the Export Forecast from the Danish Ministry of Foreign Affairs.
In the analysis from Statistics Denmark, in 2015 Denmark’s total exports to the U.S. increased by 27.7 pct., with the increase primarily coming from an increase in the export of goods. This was a truly remarkable increase, which cemented the strong bilateral trade relations between Denmark and the U.S.
Following up on a record year like 2015 was always going to be tough and 2016 did indeed turn out to be quite the challenge overall. The estimate for the overall growth in exports to the U.S. in 2016 is currently at -2.8 pct. according to Ministry of Foreign Affairs Export Forecast, with the decrease mainly stemming from ship freight due to decreasing freight rates and the exports of machinery.
However, looking ahead to 2017, the Export Forecast estimates a 17.5 pct. increase in the export of goods, with the estimate for the export of services not yet available. This indicates that by the end of 2017, the export of goods over the last 6 year will have increased by more than 36 pct.!
The Trade Council at the Embassy looks forward to helping Danish companies continue on this positive path, and we look forward to a year full of opportunities.
Danish Exports to the U.S. and change in Exchange Rate relative to 2012