Today’s news / US supports Danish exports amid EU slowdown
Medicine is among the Danish goods that Americans purchase the most. This is shown by today's export figures from Statistics Denmark. (Archive photo). Photo: Scott Olson/Ritzau Scanpix

US supports Danish exports amid EU slowdown

Despite a slight month-on-month decrease, Danish exports have increased by 4.8% over the past three months, according to Statistics Denmark. The United States has strengthened its position as Denmark’s largest buyer of goods and services. In the first eight months of the year, Danish sales to the US have climbed by 19% compared to the same period last year, totaling 220 billion kroner. Conversely, exports to Germany and Sweden have declined by 2%. The German industry appears to be in a recession-like state, deeply affecting the European export markets. A significant portion of Danish exports to the US is produced by Danish companies in the US, whereas exports to Germany and Sweden are mainly produced in Denmark. The German market is crucial for Denmark, as Sydbank’s senior economist points out, with 120,000 Danish jobs directly affected by exports to Germany and 900,000 indirectly linked.