Denmark exports the 'worst in eight years'
Sales of Danish products to other countries fell by 5.6 percent in March, the biggest dip since 2011.
The figure comes from stats agency Statistics Denmark, which monitor’s the country’s overseas trade.
The March decrease was not enough to overshadow results from January and February, however, with an overall trade increase of 1.4 percent for the first three months of the year.
Denmark still maintains a trade surplus, but the disappointing monthly result is the cause for some concern, according to head analyst Allan Sørensen of the Confederation of Danish Industry (DI).
“Weak demand abroad has unfortunately resulted in lower export revenues in recent months,” Sørensen wrote in an analysis.
“We hope that the decline is not a warning that exports are about to hit a bumpy period,” he added.
Nykredit’s lead economist Tore Stramer suggested that the reason for the dip was to be found outside of Denmark.
“The large decrease in export in March could be a sign that weakening global economy is now hitting Danish exports,” Stramer wrote in an analysis.
But the economy analyst noted that the fall in exports could be a temporary swing, rather than long-term trend.
Two key export groups, medicine and machinery, are prone to large swings in demand, he added.
READ ALSO: Disappointing trends for Danish exports: DI
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The figure comes from stats agency Statistics Denmark, which monitor’s the country’s overseas trade.
The March decrease was not enough to overshadow results from January and February, however, with an overall trade increase of 1.4 percent for the first three months of the year.
Denmark still maintains a trade surplus, but the disappointing monthly result is the cause for some concern, according to head analyst Allan Sørensen of the Confederation of Danish Industry (DI).
“Weak demand abroad has unfortunately resulted in lower export revenues in recent months,” Sørensen wrote in an analysis.
“We hope that the decline is not a warning that exports are about to hit a bumpy period,” he added.
Nykredit’s lead economist Tore Stramer suggested that the reason for the dip was to be found outside of Denmark.
“The large decrease in export in March could be a sign that weakening global economy is now hitting Danish exports,” Stramer wrote in an analysis.
But the economy analyst noted that the fall in exports could be a temporary swing, rather than long-term trend.
Two key export groups, medicine and machinery, are prone to large swings in demand, he added.
READ ALSO: Disappointing trends for Danish exports: DI
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