Denmark's Top Imports & Exports 2008
Top Danish Exports are Generators and Medicinal Preparations
Oct 7, 2009
Achieving a Gross Domestic Product (GDP) valued at US$342.9 billion, Denmark was the world’s 29th richest country in 2008.
With a population of 5.5 million Danes who enjoyed an average GDP of $37,400 per person last year, Denmark was also the 28th wealthiest nation in terms of GDP per capita.
As the world’s 34th biggest exporter, Denmark shipped $114.9 billion worth of exports in 2008. Principal Danish exports were machinery, meat, dairy products, fish, pharmaceuticals, furniture and windmills. Based on 2008 statistics, Denmark’s largest export clients were Germany (17.9%), Sweden (14.5%), the United Kingdom (8.3%), Norway (5.7%), the United States (5.3%), France (4.8%) and Netherlands (4.6%).
According to the CIA World Factbook, Denmark imported $116.4 billion worth of foreign goods last year. Major commodities imported into Denmark include machinery, raw materials, industrial semi-manufactures, chemicals, grain, foodstuffs and consumer goods. Leading suppliers to Denmark were Germany (21%), Sweden (14%), Netherlands (6.7%), Norway (6.2%), China (5.6%) and the United Kingdom (5.1%).
In total, Denmark’s international trade amounted to $231.3 billion or 67.5% in relation to its overall GDP. This compares with roughly 25% for the U.S. and 60% for Canada.
Danish Trade with the U.S.
Last year, Danish exports to America fell 4% to $12.5 billion. Over that same period, Denmark bought $5 billion worth of U.S. imports – an increase of 12.2%.
Therefore, Denmark’s trade surplus with the U.S. came to $7.5 billion in 2008.
The lists below present the top 10 exports and imports that American and Danish enterprises exchanged in 2008. The fastest-growing trade product categories are also shown.
Denmark’s Top Exports to America
The following top 10 exports represent 70.8% of all Danish exports to America in 2008. Denmark’s top 2 billion-dollar exports to the U.S. showed positive growth of 19.9% and 3.2% respectively, while 5 other product categories showed gains ranging from 2.6% to 64%.
- Generators and transformers … US$1.3 billion, up 16.7% from 2007 (19.9% of US imports from Denmark)
- Medicinal, dental and pharmaceutical preparations … $1.2 billion, up 3.2% (18.8%)
- Telecommunications equipment … $712.8 million, up 64% (5.7%)
- Other scientific, medical and hospital equipment … $346.2 million, up 26.4% (5.4%)
- Industrial engines … $308.1 million, up 37.9% (4.8%)
- Other household goods including clocks … $286.7 million, up 2.6% (4.4%)
- Other industrial machinery … $262.3 million, down 8.6% (4.1%)
- Other tobacco, waxes and non-food oils … $196.2 million, up 32.4% (3%)
- Meat and poultry … $170.8 million, down 11.3% (2.6%)
- Toys and sporting goods including bicycles … $133.3 million, down 23.3% (2.1%).
Fastest-Growing Danish Exports to the U.S.
Denmark’s steelmaking and petroleum product exports posted stellar increases in 2008. These were accompanied by triple-digit surges for 4 other product categories and double-digit gains for the remaining 4 Danish exports.
- Unmanufactured steelmaking materials … US$11.3 million, up 187,517% from 2007
- Other petroleum products … $31.1 million, up 5,804%
- Other materials including hair and waste … $13.5 million, up 700.9%
- Synthetics (cork, gums, resins, rubbers, wood) … $2.1 million, up 361.6%
- Oilfield and drilling equipment … $17.3 million, up 277.8%
- Oilseeds and food oils … $18.8 million, up 125.9%
- Miscellaneous non-ferrous metals … $3 million, up 93.1%
- Marine engines and parts … $10.6 million, up 74%
- Fish and shellfish … $6.8 million, up 70.6%
- Agricultural machinery and equipment … $64.4 million, up 62.4%.
Denmark’s Top Imports from America
America’s top 10 exports to Denmark accounted for 42% of total Danish imports from the U.S.
- Medicinal equipment … US$262.7 million, up 16.9% from 2007 (9.7% of US exports to Denmark)
- Civilian aircraft … $205.1 million, down 46.5% (7.6%)
- Semiconductors… $109.1 million, down 6.2% (4%)
- Telecommunications equipment … $89.2 million, down 25.1% (3.3%)
- Other industrial machines … $87.8 million, up 12.4% (3.2%)
- Other chemicals … $80.7 million, down 5.5% (3%)
- Computer accessories … $78.9 million, down 16.5% (2.9%)
- Pharmaceutical preparations … $78.88 million, down 11.6% (2.9%)
- Agricultural machinery and equipment … $77.5 million, up 18.9% (2.9%)
- Other household goods … $68.9 million, up 12.2% (2.5%).
Fastest-Growing Danish Imports from the U.S.
Although for relatively small amounts, all 10 of the fastest-growing American exports to Denmark had triple-digit gains.
- Animal feeds … US$22.3 million, up 334%
- Iron and steel mill products … $11.6 million, up 252.3%
- Other precious metals … $3.6 million, up 236.7%
- Shingles, molding and wallboard … $12.6 million, up 229.9%
- Fish and shellfish … $34.4 million, up 157.3%
- Dairy products and eggs … $12.8 million, up 134.6%
- Textile apparel and household goods … $9.8 million, up 124.5%
- Other coal and fuels … $13.7 million, up 120.2%
- Other vehicle parts and accessories … $15.3 million, up 119.3%
- Pulpwood … $7.1 million, up 119.1% .
Comparative Trade Advantages
During 2008, Denmark exported $1.3 billion worth of generators and transformers to the U.S. while importing $30.8 million worth of American generators and accessories.
These Danish-American trade statistics show that Denmark has comparative advantages over the U.S. in generator-transformer trade between the 2 nations.
On the other hand, America exported $205.1 million worth of civilian aircraft to Denmark in 2008 contrasted with U.S. imports of Danish aircraft engines and parts worth $8.9 million.
That the U.S. exported more than 20 times the value of Danish civilian aircraft components clearly shows that America has a comparative advantage in exporting civilian aircraft products to Denmark.
Sources
This analysis is based on latest statistics from the US Census Bureau- Foreign Trade Statistics and CIA World Factbook as of the date of article publication.
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