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The United States is now Denmark's biggest trading partner

2.18.2020  17:41

The United States is now the largest export market for Danish goods and services with total imports reaching DKK 157.6 bn. in 2019. This comes after a particular good year for Danish exports to the United States, where it is worth noting that the US was the only region that experienced growth in Danish export throughout the autumn season.

According to the American-Danish Business Council, the great results for Danish exports especially relates to an increase of export in the pharmaceutical industry, machinery and transport equipment. The latter part is especially due to an increase of export in the Danish maritime sector in the past year.

Germany has historically been Denmark’s largest export market, however, due to recently low growth in Germany and the continuous growth in the US, the US is now the largest purchaser, when you combine the export of Danish goods and services.

Every time Danish companies are successful in selling goods and services to the American market, new potential job opportunities arise for the American public. A review conducted by the Confederation of Danish Industry and the Embassy of Denmark published in 2019 came to show that 123,000 people in the US are employed in jobs created by Danish companies or from the export of goods and services from Danish companies. The review also concluded that 101,250 people in Denmark are employed through US subsidiaries and Danish exports to the US.

It is evident that the strong ties between the US and Denmark remain very close. Moreover, it is important for Denmark to maintain these good trading relationships, as it positively affects both economies.

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