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Upswing: Danes want Danish products

Danish businesses and consumers do not have the same burning desire for foreign products that has characterised previous economic upswings, shows a new study from the Confederation of Danish Industry.
Even though the Danish economy is growing, imports are not increasing at the same rate as usual. Photo: Colourbox

Publiceret: 08.11.2017
Af Peter G. H. Madsen mail

In the happy bubble years of the mid-2000s, it was particularly goods produced abroad that won favour with Danes.

However, this has not been the case in recent years, where imports have increased only moderately despite growth in the economy, shows a new study from the Confederation of Danish Industry.
 
“From the mid-90s until 2008, we generally saw that when production increased in Denmark, imports increased nearly three times as much. In recent years, this has not been the case. Neither businesses nor consumers have increased their purchase of goods and services from abroad to nearly the same degree as previously,” says Deputy Director Kent Damsgaard, the Confederation of Danish Industry.
 
See also: DI Analysis: Weak growth in Danish imports in recent years (in Danish)

Better conditions are required

The trend in Denmark is part of an international tendency in which global trade is growing less than was previously the case.

Among other things, this is due to companies choosing to locate production closer to customers, which slows the growth in cross-border trade.
 
However, the slowing-down of global trade has not impacted the continued success of Danish companies in selling their products abroad,” notes Deputy Director Kent Damsgaard.
 
“775,000 Danish jobs are linked to Danish exports. This testifies to the fact that Danish companies are doing well in the global competition. If this is also to be possible in the future, it is crucial that we continually work to create the best possible conditions for running a business in Denmark,” he says.

Neither businesses nor consumers have increased their purchase of goods and services from abroad to nearly the same degree as previously.
DEPUTY DIRECTOR KENT DAMSGAARD, DI
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PUBLISHED: 11/8/2017 LAST MODIFIED: 11/8/2017