Denmark exported US US$128.9 billion worth of products around the world in 2022.
That dollar amount results from an 18.7% rise from $108.5 billion during 2018.
From 2021 to 2022, the overall value of Danish exports gained 3.1% compared to $125 billion.
Denmark’s top 5 trading partners are Germany, Sweden, Netherlands, Norway and the United States of America. Combined, that cohort of major consumers of Denmark’s exports bought 47.1% of overall Danish exports during 2022.
Applying a continental lens, over three-quarters (76.1%) of Denmark’s exports by value was delivered to fellow European countries while 12.7% was sold to importers in Asia with another 6.9% worth of goods sent to North America.
Smaller percentages went to Latin America (1.6%) excluding Mexico but including the Caribbean, Africa (1.37%), then Oceania led by Australia (1.34%).
Denmark’s Top Trading Partners
Below is a list showcasing 25 of Denmark’s top trading partners, countries that imported the most Danish shipments by dollar value during 2022. Also shown is each import country’s percentage of total Danish exports.
- Germany: US$22.8 billion (17.7% of Denmark’s total exports)
- Sweden: $13.4 billion (10.4%)
- Netherlands: $9 billion (7%)
- Norway: $8.3 billion (6.4%)
- United States: $7.2 billion (5.6%)
- United Kingdom: $5.9 billion (4.6%)
- Poland: $5.5 billion (4.2%)
- France: $5.3 billion (4.1%)
- China: $4.3 billion (3.4%)
- Italy: $3.2 billion (2.5%)
- Spain: $3 billion (2.3%)
- Finland: $2.9 billion (2.3%)
- Belgium: $2.5 billion (2%)
- Japan: $1.7 billion (1.3%)
- Türkiye: $1.35 billion (1%)
- Switzerland: $1.21 billion (0.9%)
- Australia: $1.19 billion (0.9%)
- South Korea: $18 billion (0.8%)
- Austria: $13 billion (0.8%)
- Taiwan: $958.4 billion (0.7%)
- Ireland: $944.1 billion (0.7%)
- Czech Republic: $923 billion (0.7%)
- Iceland: $918.1 billion (0.7%)
- Faroe Islands: $808.1 billion (0.6%)
- India: $800.8 billion (0.6%)
More than four-fifths (82.4%) of Danish exports in 2022 were delivered to the above 25 trade partners.
The strongest percentage increases in purchases of goods exported from Denmark belonged to the Netherlands (up 27.6% from 2021), Spain (up 24.7%), Germany (up 17.9%), France (also up 17.9%), India (up 15.2%), and Austria (up 10.1%).
Leading the decliners were importers of Danish exports in Taiwan (down -27.5% from 2021), United Kingdom (down -21.7%) and mainland China (down -17.1%).
Countries Causing Denmark’s Worst Trade Deficits
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Denmark incurred the highest trade deficits with the following countries.
- Germany: -US$6.5 billion (country-specific trade deficit in 2022)
- mainland China: -$6.2 billion
- Sweden: -$4.4 billion
- Netherlands: -$3.4 billion
- Belgium: -$2.1 billion
- Italy: -$1.5 billion
- Poland: -$1.2 billion
- Czech Republic: -$1.09 billion
- Bangladesh: -$951.9 million
- India: -$612.2 million
Among Denmark’s trading partners that cause the greatest negative trade balances, Danish deficits with India (up 47.4%), Sweden (up 16.3%) and mainland China (up 14.5%) grew at the fastest pace from 2021 to 2022.
These cashflow deficiencies clearly indicate Denmark’s competitive disadvantages with the above countries, but also represent key opportunities for Denmark to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Denmark’s Biggest Trade Surpluses
Denmark earned a total $2.4 billion trade surplus in 2022, shrinking by -25.1% from the $3.2 billion in black ink one year earlier for 2021.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Denmark incurred the highest trade surpluses with the following countries.
- United Kingdom: US$1.9 billion (country-specific trade surplus in 2022)
- United States of America: $1.3 billion
- France: $931.6 million
- Australia: $911.2 million
- Finland: $892 million
- Japan: $830.3 million
- Singapore: $572.1 million
- Iceland: $522.4 million
- United Arab Emirates: $460.4 million
- Saudi Arabia: $340.7 million
Among Denmark’s trading partners that generate the greatest positive trade balances, Danish surpluses with France (up 509.6%), United Arab Emirates (up 35.4%) and Australia (up 13.3%) grew at the fastest pace from 2021 to 2022.
These positive cashflow streams clearly indicate Denmark’s competitive advantages with the above countries, but also represent key opportunities for Denmark to develop country-specific strategies to optimize its overall position in international trade.
Major Companies Servicing Denmark’s Trading Partners
Fourteen Danish corporations rank among Forbes Global 2000. Below is a sample of the major Danish companies that Forbes included.
- A.P. Moller-Maersk Group (transportation, energy)
- Carlsberg (beverages)
- Coloplast (medical equipment, supplies)
- DSV (transportation, logistics)
- Novo Nordisk (pharmaceuticals)
- Novozymes (biotechs)
- TDC (telecommunications services)
- Vestas Wind Systems (electrical equipment)
Wikipedia also lists exporters from Denmark. Selected examples are shown below.
- Arla Foods (dairy products)
- House of Amber (jewelry)
- Kopenhagen Fur (fur clothing, accessories)
- Lego Group (toys)
- Pharma Nord (pharmaceuticals)
- Royal Copenhagen (porcelain)
- Tuborg (brewery)
See also Denmark’s Top 10 Imports, Denmark’s Top 10 Exports, Drugs and Medicine Exports by Country and Top Blood Exporters by Country
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 19, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 19, 2023
Trade Map, International Trade Centre. Accessed on April 19, 2023
Investopedia, Net Exports Definition. Accessed on April 19, 2023
Wikipedia, Denmark. Accessed on April 19, 2023