The Danish trade surplus widened sharply to DKK 6.3 billion in October 2018 from DKK 4.9 billion in the same month a year earlier, as exports rose more than imports. Exports increased 6.1 percent from a year earlier to DKK 62.9 billion, mainly due to higher sales of transport equipment (8.6%); mineral fuels, lubricants & related materials (16.3%); live animals, food, beverages & tobacco (1.2%); machinery (9.1%); and chemicals & related products (11.7%). On the other hand exports declined for vessels, aircraft (-5.6%). Meantime, imports went up 4 percent to DKK 56.6 billion, led by increases in purchases of mineral fuels, lubricants & related (41.2%); transport equipment (12.7 percent); crude materials & inedible (except fuels) (11.3%); and machinery (7.4%). Balance of Trade in Denmark averaged 1756.97 DKK Million from 1960 until 2018, reaching an all time high of 10659.10 DKK Million in October of 2013 and a record low of -7636 DKK Million in April of 2018.
Balance of Trade in Denmark is expected to be 1461.00 DKK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Denmark to stand at 3210.00 in 12 months time. In the long-term, the Denmark Balance of Trade is projected to trend around 1566.00 DKK Million in 2020, according to our econometric models.