The Danish trade surplus narrowed to DKK 4.5 billion in February 2019 from DKK 4.9 billion in the same month a year earlier. Imports went up 4.4 percent from a year earlier to DKK 50.8 billion, led by higher purchases of transport equipment (13 percent); machinery (11.9 percent); manufactured goods (3.9 percent), live animals, food, beverages & tobacco (3.1 percent), and chemicals & related products (1.2 percent). By contrast, purchases dropped for mineral fuels, lubricants &related materials (-7.9 percent) and crude materials, inedible, except fuels fell (-4 percent). Exports increased 3.3 percent to DKK 55.3 billion, driven by sales of chemicals & related products (15.4 percent); machinery (9.4 percent); transport equipment (6.6 percent), mineral fuels, lubricants & related materials (6.3 percent), and live animals, food, beverages & tobacco (2.1 percent). Meanwhile, sales fell for vessels, aircraft (-82.6 percent) and crude materials inedible except fuels (-9.9 percent). Balance of Trade in Denmark averaged 1772.86 DKK Million from 1960 until 2019, reaching an all time high of 10659.10 DKK Million in October of 2013 and a record low of -7724.10 DKK Million in April of 2018.
Balance of Trade in Denmark is expected to be 7400.00 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 2800.00 in 12 months time. In the long-term, the Denmark Balance of Trade is projected to trend around 3500.00 DKK Million in 2020, according to our econometric models.