Danish Current Account Narrows in October

Denmark’s seasonally adjusted current account surplus widened to DKK 40 billion in December 2025 from an upwardly revised DKK 35.8 billion in November. This marked the largest surplus on record, as the goods account surplus increased to DKK 33.2 billion from DKK 30.7 billion, supported by a 2.8% rise in exports. At the same time, the services account surplus expanded to DKK 2.1 billion from DKK 0.9 billion, while the primary income surplus grew to DKK 8.1 billion from DKK 7.4 billion. Meanwhile, the secondary income deficit widened slightly to DKK 3.4 billion from DKK 3.2 billion. For the full year, Denmark posted a current account surplus of DKK 390.6 billion, up from DKK 356.9 billion in the corresponding period last year.

Denmark’s seasonally adjusted current account surplus widened to DKK 33.6 billion in November 2025 from a downwardly revised DKK 31.8 billion in October. The goods account surplus increased to DKK 28.2 billion from DKK 25.2 billion, as exports rose 2.8%, while imports recorded a flat reading. Additionally, the primary income surplus expanded to DKK 7.7 billion from DKK 7.2 billion in the previous month. On the other hand, the services account surplus decreased to DKK 0.7 billion from DKK 2.4 billion, while the secondary income deficit remained steady at DKK 3 billion, unchanged from October. In the January to November period, Denmark posted a current account surplus of DKK 341.1 billion, slightly down from DKK 341.6 billion in the corresponding period last year.

Denmark’s seasonally adjusted current account surplus narrowed to DKK 32.9 billion in October 2025 from an upwardly revised DKK 38.9 billion in September. The goods account surplus decreased to DKK 26 billion from DKK 31.7 billion, as exports fell 3.8% while imports rose 1.9%. At the same time, the services account surplus decreased to DKK 2.1 billion from DKK 2.4 billion. On the income side, the primary income surplus declined to DKK 8 billion from DKK 8.2 billion, while the secondary income deficit was at DKK 3.2 billion from DKK 3.4 billion. Over the first ten months of 2025, Denmark posted a current account surplus of DKK 305.3 billion, down from DKK 307 billion in the corresponding period last year.