Dinamarca: Visió econòmica i política
Denmark has historically been renowned as a nation of traders, with an economy extremely open to foreign trade: in 2021, it represented 112% of the country’s GDP (World Bank – latest data available). Denmark mainly exports pharmaceutical products, meat, blood, petroleum oils, electric generating sets and rotary converters (wind turbines, of which Denmark is the leading manufacturer worldwide). Its main imports are motor vehicles, pharmaceuticals, petroleum oils, automatic data processing machines, and telephones (Comtrade). The country is the world’s second-largest shipping operator and transportation was the main imported and exported service in 2021.
According to data by Comtrade, in 2021 Denmark’s main trading partners were Germany (12.9%), Sweden (9.3%), Norway (5.7%), the United Kingdom (5.7%) and the US (4.7%). The country’s imports principal origins were Germany (20.6%), Sweden (12.6%), the Netherlands (8.2%), China (8%) and Poland (4.4%). Considered as a whole, the European Union was Denmark’s main importing and exporting partner.
Denmark has a structural trade balance surplus (2009 being the last time the country had a negative balance). In 2021, Denmark exported goods worth USD 125.9 billion and USD 93.3 billion of services (+16.3% and +23.3%, respectively), while imports stood at USD 120.3 billion for goods and USD 81.7 billion for services (+25.4% and +17.7% y-o-y – data WTO). According to data from the World Bank, in 2021 the overall trade surplus for goods and services reached 7.1% of GDP. Figures from Statistics Denmark show that in the first ten months of 2022 exports of goods and services grew by 32% compared to the same period one year earlier, at a faster pace than imports (+26.2%).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 93,314 | 102,605 | 97,824 | 97,561 | 120,307 |
Exports of Goods (million USD) | 102,559 | 109,711 | 110,779 | 108,274 | 125,945 |
Imports of Services (million USD) | 61,924 | 72,879 | 75,866 | 69,424 | 81,723 |
Exports of Services (million USD) | 66,474 | 81,129 | 83,168 | 74,440 | 93,382 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 103.0 | 107.0 | 110.2 | 103.5 | 112.2 |
Trade Balance (million USD) | 15,010 | 12,829 | 18,440 | 18,683 | 14,704 |
Trade Balance (Including Service) (million USD) | 23,879 | 21,806 | 25,663 | 22,861 | 26,142 |
Imports of Goods and Services (Annual % Change) | 4.2 | 5.1 | 3.0 | -3.6 | 8.0 |
Exports of Goods and Services (Annual % Change) | 4.8 | 3.4 | 4.5 | -6.3 | 8.0 |
Imports of Goods and Services (in % of GDP) | 47.9 | 50.4 | 51.6 | 48.6 | 52.5 |
Exports of Goods and Services (in % of GDP) | 55.1 | 56.6 | 58.6 | 54.9 | 59.7 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 7.6 | 1.1 | 2.5 | 2.3 | 2.2 |
Volume of imports of goods and services (Annual % change) | 3.7 | 0.1 | 2.5 | 2.2 | 2.2 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
Germany | 14.4% |
Sweden | 8.6% |
Norway | 5.6% |
Netherlands | 5.5% |
United States | 4.7% |
United Kingdom | 4.0% |
Poland | 3.5% |
France | 3.2% |
China | 2.8% |
Italy | 2.0% |
Finland | 1.9% |
Spain | 1.8% |
Belgium | 1.6% |
Japan | 1.1% |
Türkiye | 0.9% |
Switzerland | 0.8% |
Australia | 0.8% |
South Korea | 0.7% |
Austria | 0.7% |
Ireland | 0.6% |
See More Countries | 61.1% |
Main Suppliers (% of Imports) |
2022 |
Germany | 20.2% |
Sweden | 12.3% |
Netherlands | 8.7% |
China | 8.4% |
Poland | 4.5% |
Norway | 4.5% |
United States | 4.0% |
Belgium | 3.4% |
Italy | 3.3% |
France | 2.8% |
United Kingdom | 2.5% |
Spain | 1.8% |
Czech Republic | 1.5% |
Finland | 1.2% |
Türkiye | 1.1% |
India | 1.1% |
Bangladesh | 1.0% |
Austria | 0.9% |
Lithuania | 0.8% |
Latvia | 0.7% |
See More Countries | 45.9% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: November 2023
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