Danish Export Sees a 0.8% Dip in September 2023

The latest seasonally adjusted data from Danmarks Statistik reveals a 0.8% decrease in Denmark’s overall export of goods and services in September 2023 compared to August. While goods export witnessed a 2.5% decline, service export showed a 1.9% increase. The year-on-year growth rate over the last 12 months dropped to 1.2%, reflecting a 10.7% rise in goods export and a 9.6% fall in service export.

In the first nine months of the year, the total export has experienced a 4.5% decline compared to the same period in 2022. This decline is predominantly attributed to a significant 18.4% reduction in earnings from service export, whereas goods export has grown by 8.4%. Notably, goods produced and sold abroad have increased by 34.7%, while those crossing the Danish border have risen by 3.3% this year.

The substantial decrease in exports to non-EU countries, amounting to DKK 98.3 billion (11.5%), is primarily driven by reduced income from maritime transport originating from non-EU countries.