Danish exports reached a new record in April despite stormy European economy

Monday, 11 June 2012
Denmark's export to foreign countries was up in April in spite of the problems in the EU area. According to a new trade figures from Statistics Denmark exports reached over Dkr52 billion seasonally adjusted. This is seen as a new record for a month.

“Never before have Danish companies exported much more than a single month,” says Jens Nærvig Pedersen, Danish economist at Bank.
Oil exports

Economists, however, have rushed to quickly cool down the enthusiasm because the apparently due t the fact that the impressive export figures is largely due to oil exports.

“In reality, there is stagnation, when we clean energy products,” says Niels Rønholt, senior economist at Jyske Bank.

In order to smooth out large monthly fluctuations economists expect the export figures over three months. Here there is an increase of 1.1 percent, and it makes the most satisfied with.
“Exports to Europe lag. But there are bright spots seen around Germany, Sweden and Norway during the year,” says Niels Rønholt.

Nærvig Jens Pedersen believes that exports were greatly helped by the weakened euro and thus the Danish krone. Businesses are also currently strengthening competitiveness through low wages.

On the whole, authorities sat that Danish companies have been good at identifying new growth markets in an era where the traditional export areas in Europe have been in trouble.
Today's figures from Statistics Denmark show that the current account surplus was Dkr9.4 billion in April.

Measured over 12 months Denmark is in nearly Dkr106 billion - a bit lower than the previous month.
By Scancomark.se Team

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