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BUSINESS

Disappointing trends for Danish exports: DI

New goods exports figures are disappointing. It is crucial that trade wars do not escalate, says the Confederation of Danish Industry (DI).

Disappointing trends for Danish exports: DI
File photo: Asger Ladefoged/Ritzau Scanpix

According to new figures published by Statistics Denmark, Danish exports fell by 0.4 percent in February. Exports have now fallen for three consecutive months – by a total of 1.3 percent, writes dibusiness.dk.

“Exports have, unfortunately, seen only weak movement during the winter months. This is disappointing because the world economy is growing at a decent rate and this growth is evenly distributed across all regions. It is essential that Denmark is not left out of the global boom so that we can bring our exports up to speed again. We especially need to increase sales to Europe,” said DI head analyst Allan Sørensen.

“Otherwise, I view the general trend in Danish exports as positive. Last year, exports grew in seven out of ten markets, and exporters are keen to do more. This means that almost 50 percent of our exporters are indicating that they are considering entering several new markets in 2018,” Sørensen said.

“Trade wars and currency fluctuations may present exporters with huge challenges in 2018. It is particularly crucial that the trade war between the United States and China does not escalate and spread because that would really be detrimental to Danish exports,” the DI analyst continued.

The price of the Danish krone has increased in the past year and the krone is now at its highest rate in four years.

Denmark’s currency has increased against the US dollar, the Chinese yuan and the Swedish krona.

READ ALSO: Danish companies warming up for a strong 2018: analysis

MONEY

Italy expands €200 payment scheme and introduces public transport bonus

Italy's government will extend its proposed one-time €200 benefit to more people and introduce a €60 public transport payment, Italian media reported on Thursday.

Italy expands €200 payment scheme and introduces public transport bonus

Seasonal workers, domestic and cleaning staff, the self-employed, the unemployed and those on Italy’s ‘citizens’ income’ will be added to the categories of people in Italy eligible for a one-off €200 payment, ministers reportedly announced on Thursday evening.

The one-time bonus, announced earlier this week as part of a package of financial measures designed to offset the rising cost of living, was initially set to be for pensioners and workers on an income of less than €35,000 only.

However the government has now agreed to extend the payment to the additional groups following pressure from Italy’s labour, families, and regional affairs ministers and representatives of the Five Star Movement, according to news agency Ansa.

Pensioners and employees will reportedly receive the €200 benefit between June and July via a direct payment into their pension slip or pay packet.

For other groups, a special fund will be created at the Labour Ministry and the procedures for claiming and distributing payments detailed in an incoming decree, according to the Corriere della Sera news daily.

One new measure introduced at the cabinet meeting on Thursday is the introduction of a one-time €60 public transport bonus for students and workers earning below €35,000. The bonus is reportedly designed to encourage greater use of public transport and will take the form of an e-voucher that can be used when purchasing a bus, train or metro season pass.

Other provisions reportedly proposed in the energy and investment decree (decreto energia e investimenti), which is still being adjusted and amended, include extending energy bill discounts, cutting petrol excise duty and rolling on the deadline to claim Italy’s popular ‘superbonus 110’.

The €14 billion aid package, intended to lessen the economic impact of the war in Ukraine, will “fight the higher cost of living” and is “a temporary situation”, Prime Minister Mario Draghi has said.

The Local will report further details of the payment scheme once they become available following final approval of the decree.

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