“Denmark has many exporters, but many are relatively small and account for a small part of the total export of goods. The 100 largest exporters account for more than half of all exports. The large exporters usually have the whole world as their marketplace which gives them the opportunity to grow big,” says Deputy Director General Kent Damsgaard of the Confederation of Danish Industry.
“More than 50% of our exports are concentrated in the hands of relatively few companies which makes the export sector vulnerable to changes in the way things are going in these major exporting engines. If just a few of these companies lose market share or move their activities abroad, it can mean significant losses of many billions of kroner in Danish export earnings,” says Kent Damsgaard.
“Although the Danish export sector is dominated by relatively few major exporters, many businesses and more than 735,000 Danish jobs depend on exports – either direct exports or subcontracting to exporters. A good business environment and strong competitiveness are therefore important to more than just a few major exporters,” says Kent Damsgaard.
The 100 largest companies accounted for approximately 85% of exports to remote markets like China and the United States in 2015. The same group of companies accounted for approximately 70% of exports to Germany and the United Kingdom and for approximately 60% of exports to Sweden and Norway.
“Many smaller exporters start in neighbouring markets with which we have a long-standing tradition of close trading partnerships. The companies experience fewer challenges in neighbouring markets and that is why these markets are a natural place to start. Global demand is infinitely large. That is why it is vital that companies also move out into more remote markets where a greater number of potential customers are to be found and where growth rates are usually higher,” says Kent Damsgaard.
“To boost growth in the Danish economy, it is vital that we get even more businesses exporting and those who are already exporting need help to reach new export markets,” says Kent Damsgaard.
