08.02.202110:15:00UTC+00Denmark Trade Surplus Falls In December

Denmark's trade surplus decreased in December amid a fall in exports, preliminary data from Statistics Denmark showed on Monday. The total trade surplus declined to DKK 9.7 billion from DKK 11.6 billion in November. Exports decreased 1.6 percent from the previous month, while imports grew 0.2 percent. The goods trade surplus fell to DKK 8.9 billion from DKK 9.5 billion. Goods exports shrunk 2.3 percent and imports declined 1.6 percent. The surplus in the services trade decreased to DKK 0.8 billion from DKK 2.1 billion in the previous month. Exports fell 0.5 percent, while imports grew 3 percent. The current account surplus declined to DKK 12.7 billion from DKK 13.8 billion in November. In 2020, exports of goods and services fell by 8.1 percent from 2019 and imports decreased 6.6 percent.

In the services trade, both exports and imports logged record declines of 13.9 percent and 9.2 percent, respectively. The travel component accounted for 40 percent of the fall in exports and 70 percent of the decline in imports.

Goods exports decreased 4.0 percent in 2020. Further decline was curbed by a 12.5 percent increase in shipments of chemicals including pharmaceuticals in a year in which the coronavirus pandemic ravaged economic activity across the world for several months. Imports of goods fell 4.7 percent.