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Disappointing trends for Danish exports: DI

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Disappointing trends for Danish exports: DI
File photo: Asger Ladefoged/Ritzau Scanpix
15:31 CEST+02:00
New goods exports figures are disappointing. It is crucial that trade wars do not escalate, says the Confederation of Danish Industry (DI).

According to new figures published by Statistics Denmark, Danish exports fell by 0.4 percent in February. Exports have now fallen for three consecutive months – by a total of 1.3 percent, writes dibusiness.dk.

“Exports have, unfortunately, seen only weak movement during the winter months. This is disappointing because the world economy is growing at a decent rate and this growth is evenly distributed across all regions. It is essential that Denmark is not left out of the global boom so that we can bring our exports up to speed again. We especially need to increase sales to Europe,” said DI head analyst Allan Sørensen.

“Otherwise, I view the general trend in Danish exports as positive. Last year, exports grew in seven out of ten markets, and exporters are keen to do more. This means that almost 50 percent of our exporters are indicating that they are considering entering several new markets in 2018,” Sørensen said.

“Trade wars and currency fluctuations may present exporters with huge challenges in 2018. It is particularly crucial that the trade war between the United States and China does not escalate and spread because that would really be detrimental to Danish exports,” the DI analyst continued.

The price of the Danish krone has increased in the past year and the krone is now at its highest rate in four years.

Denmark’s currency has increased against the US dollar, the Chinese yuan and the Swedish krona.

READ ALSO: Danish companies warming up for a strong 2018: analysis

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