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Danish balance of payments moving to the positive territory

Wednesday, 04 April 2012
The Danish balance of payments remains in solid plus, new figures from Statistics Denmark show.
At the same time trade data show that Danish exports continue to improve with a growth of 1.4 percent in February.

The current account balance of payments yielded a surplus of Dkr8.0 billion, measured over three months, the balance of payments is in surplus by Dkr21.9 billion.

From an economist stand point, there has been more focus on the development of Danish exports. Here, the Danish Chamber of Commerce feels that exports reached new growth on it own
“We are simply starting to be present on the world economy's growth markets, and their importance can hardly be overestimated,” says Bo Sandberg, chief economist of the Danish Chamber of Commerce.

He adds that it is "hard to get my arms down" when you look at Danish exports at the moment.
Among the important areas of growth for Danish exports are currently China, USA and the other so-called BRIC countries Brazil, Russia, India that are pushing this growth.

The Danish bank, Danke Bank’s chief economist Steen Bocian, notes that exports measured in current prices has never been greater than now.
“It is very gratifying that exports rise in times of recession in the nearby countries to us,” says Steen Bocian.

He seems not to let the optimism get the better of him. Part of the increase in exports was due to oil sales, which do not result in many jobs in the economy at large. And in February there was a worrying trend towards a decline in industrial exports.

He would hope to see that there was a little bit more time in the domestic economy, to also start gaining in growth driven by exports in other sectors of the economy.
By Team

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