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Financial News: Denmark Trade Surplus Shrinks On Exports Fall

Denmark Trade Surplus Shrinks On Exports Fall

01/09/2023 - 04:56:00 (RTTNews)

(RTTNews) - Denmark's foreign trade surplus increased in November, as exports fell faster than imports amid lower demand for maritime transport services, figures from Statistics Denmark showed on Monday.

The total trade surplus dropped to DKK 25.6 billion in November from DKK 27.2 billion in the previous month.

Exports fell 1.8 percent monthly in November, while imports logged a comparatively smaller decline of 0.9 percent.

The decline in exports in November was driven by a 27.0 percent slump in demand for sea transport services.

The goods trade surplus climbed to DKK 10.4 billion in November from DKK 8.6 billion in the prior month. Both goods exports and imports decreased by 0.2 percent and 2.4 percent, respectively.

Meanwhile, the surplus in the services trade shrank to DKK 15.3 billion in November from DKK 18.6 billion in October. Exports registered a monthly fall of 3.7 percent and imports grew 1.3 percent.

Data also showed that the current account surplus declined to DKK 31.8 billion in November from DKK 33.2 billion in the previous month.

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