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Denmark, located south of fellow Scandinavian nations Sweden and Norway and sharing its southern border with Germany, exported products worth US$136.5 billion globally in 2023. This marked a 24.2% increase from $109.9 billion in 2019. Year over year, Danish exports rose by 5.2% compared to the $129.8 billion recorded in 2022. Over the years, the Danish krone has depreciated by -3.3% against the US dollar since 2019 but appreciated by 2.6% from 2022 to 2023. The weakened local currency post-2019 has made Danish exports relatively more cost-effective for international buyers paying in stronger US dollars.
The most recent country-specific data indicates that approximately two-thirds (66%) of Denmark’s exported products were purchased by importers in various countries, with key importers being Germany (15.8% of Denmark’s total exports), Sweden (9.3%), the Netherlands (6.7%), Norway (5.59%), the United States of America (5.58%), the United Kingdom (4.8%), Poland (4.6%), France (4%), mainland China (2.9%), Italy (2.5%), Spain (2.1%), and Finland (2%).
On a continental level, the majority of Denmark’s exports, accounting for 75.5% by value, were received by European countries, with Asia and North America accounting for 12.9% and 7.2% of Danish exports, respectively. Within the European Union, which Denmark is a member of, EU nations constituted 71.3% of Danish exports in 2023. Smaller proportions of Denmark’s exports were distributed to Latin America (1.54%, excluding Mexico but including the Caribbean), Oceania (1.5%, primarily Australia, the Marshall Islands, and New Zealand), and Africa (1.3%). Considering Denmark’s population of 5.89 million, the total $136.5 billion in export value for 2023 equates to approximately $23,200 per resident in the country. This figure surpasses the per capita average of $21,900 from the previous year in 2022.
The following export product groups represent the highest dollar value in Nigerian global shipments during 2022:
Sourcing products from Denmark offers several benefits for businesses seeking high-quality goods and sustainable solutions. With a reputation for innovation, efficiency, and environmental consciousness, Danish suppliers provide products that are known for their exceptional quality and design. The country’s strong focus on sustainability and renewable energy makes it an attractive sourcing destination for businesses looking to align with environmental values and reduce their carbon footprint. Furthermore, Denmark’s well-developed infrastructure, skilled workforce, and efficient logistics systems ensure reliable and timely delivery of products. By sourcing from Denmark, businesses can access top-notch products, support sustainable practices, and benefit from the country’s reputation for excellence and reliability. Overall, partnering with Danish suppliers can enhance the credibility and competitiveness of businesses in the global market.
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