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Key ratios: Strong Danish krone poses a challenge for export companies

The global economy is doing well, but the strong Danish krone poses a challenge for export companies, who nonetheless expect increased revenue in 2018.
“The global upturn has gained momentum and economies all around the world are improving, but Danish companies are having a hard time converting the strong demand into increased exports. The strong value of the krone is part of the explanation for the slow development in exports,” explains Chief Analyst Allan Sørensen, the Confederation of Danish Industry.

Goods exports stood still in November but are nonetheless nearly 5 per cent higher than the previous year, show new figures from Statistics Denmark.

“The value of the krone increased by three percent in 2017, which puts Danish companies at a disadvantage in the global competition. The krone has particularly risen against the dollar, and that has affected exports to the US. Exports to the US are, throughout the first 11 months of 2017, nearly 5 per cent lower than the previous year,” says Chief Analyst Allan Sørensen, the Confederation of Danish Industry.

“International demand is quite strong right now, and despite the strong krone, export companies are optimistic about 2018. Among DI’s members, eight out of ten export companies expect increased revenue in 2018,” says Chief Analyst Allan Sørensen, the Confederation of Danish Industry.

“Companies have very good opportunities for increasing orders from abroad, but it requires that they are able to find employees to do the work,” says Chief Analyst Allan Sørensen, the Confederation of Danish Industry.

775,000 Danish jobs are dependent on international sales, and growth in exports will increase the need for more talented workers in our export companies.

International demand is quite strong right now, and despite the strong krone, export companies are optimistic about 2018.

CHIEF ANALYST ALLAN SØRENSEN, DI
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PUBLISHED: 1/16/2018 LAST MODIFIED: 1/16/2018