Danish Exports to the United States Reach New Heights
New numbers from Denmark’s Statistics show that the United States has overtaken the position as the largest export market for Danish goods and services – ahead of Germany, who has been Denmark’s primary market for decades.
During the first nine months of 2019, the U.S. has purchased Danish goods and services for more than DKK 119,21 bn. – with Germany ranking a close second with DKK 119,19 bn. The overturn in rankings could be due to a struggling and declining German economy, which has had a negative impact on the Danish sales into the German market. Danish export to Germany has declined by DKK 1,8 bn. so far in 2019. Meanwhile, the U.S. economy is in high growth and it is overall a significantly larger market.
“AmCham is delighted with these new export numbers, which are a testament to the great success that Danish companies have experienced in the U.S. market over the past decade. Despite political uncertainties and trade turmoil, transatlantic business is still thriving. The U.S. consumers have strong confidence in Danish goods and services, which means that now is a good time for Danish companies to look to investment opportunities across the Atlantic,” says Stephen Brugger, Executive Director of AmCham Denmark.
About the Danish and U.S. Trade Relationship
The United States is Denmark’s largest export market. Denmark plays a huge role in the U.S. considering its relative size. In fact, U.S. jobs supported by Danish companies are around 39,000 and U.S. companies generate more than 41,000 jobs in Denmark, creating an equal, vital relationship. The top state trade partners exporting goods to Denmark is California, Texas and North Carolina. Meanwhile, Indiana, New Jersey and California are the top state importers of Danish goods. Furthermore, bilateral investment between the U.S. and Denmark was relatively equal in 2016, with Denmark investing only $1 billion more in the U.S. than what the U.S. invested in Denmark.
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