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    Analyses: Few industrial groups contribute massively to Denmark's balance of payments surplus

    For a long period, Denmark has had a surplus on the balance of payments. The manufacturing industry contributes massively to the balance of payments surplus because the sector has extensive net exports of goods. Danish industrial groups have increasingly become globally organised producing goods across borders., Accordingly, there is a close correlation between the manufacturing industry’s investments in foreign subsidiaries and Danish exports and investment income that impacts the balance of payments statistics., As part of the examination of the international organisation of industrial groups and their significance to the Danish economy, this analysis examines investments abroad and the groups’ total contribution to the balance of payments surplus in 2018. To illustrate the presence abroad, we apply a new approach to examine the ultimate destinations for the industrial groups’ investments., Main conclusions:, The contribution by just five large industrial groups to the balance of payments surplus corre­sponds nearly to the entire Danish balance of payments surplus in 2018., The industrial groups’ total contribution to the balance of payments was DKK 297 billion in 2018, which is almost twice the total balance of payments surplus., The surplus is driven by goods exports of which an increasing part never crosses the Danish border, because the goods are produced by subsidiaries abroad., Danish industrial groups have substantial investments in subsidiaries abroad. Complex group structures often lead to investments passing through several countries before they reach their final destinations., A new method for calculating ultimate hosting countries for the investments shows that par­ticularly investments in China and Russia are channelled through other countries., Get as pdf, Few industrial groups contribute massively to Denmark's balance of payments surplus, Colophone, Few industrial groups contribute massively to Denmark's balance of payments surplus, Subject group: Economy, Released: 17 February 2020 08:00, No. 2020:05, ISSN pdf: 2446-0354, Contact info:, Mads Møller Liedig, Telephone: 39 17 34 78

    Analysis

    Analyses: How big are Danish exports and who are our main trading partners?

    In recent decades it has become more common to produce goods across national borders. Increasing globalisation challenges our understanding of what a country's exports encompass and what different statistical measures of exports show., Previously, different export statistics provided a fairly similar picture of Denmark’s exports and trading partners. However, an increasing proportion of Danish exported goods never crosses Danish borders, and that has resulted in increasing differences across the various export statistics. This analysis describes Danish exports and trading partners, based on the different export statistics., Main conclusions:, Danish exports in goods are largest when measured in Denmark’s balance of payments, where the sale of goods that have never crossed Danish borders are included as exports. Today, around a sixth of the total Danish export of goods takes place outside of Danish borders., Only goods which have crossed the Danish border are classified as exports in the international trade in goods statistics which implies that the export of goods appears lower here than in the balance of payments., Exports appear lowest when measured by Danish value added, as these calculations discount the value of the imports included in the production of the exported goods and services. Estimates from an Input-Output model in Statistics Denmark suggest that imported contents in exported goods and services constitute nearly half of the total value. , Regardless of the type of export statistics, Germany is Denmark’s most important export market., On the basis of goods which cross the Danish border, the US is Denmark’s sixth largest export market. When goods sold outside Denmark’s border are taken into account, the US is Denmark’s third largest export market., Looking at the final markets for the part of exports resulting from production in Denmark the US is the second largest export market as measured by Danish value added according to estimates in an OECD international Input-Output model., Get as pdf, How big are Danish exports and who are our main trading partners?, Colophone, How big are Danish exports and who are our main trading partners?, Subject group: Economy, Released: 5 March 2018 08:00, No. 2018:4, ISSN pdf: 2446-0354, Contact info:, Mads Møller Liedig, Telephone: 39 17 34 78

    Analysis

    Analyses: How the Danish consumption affects the world's natural resources

    The Danish consumption taps into the natural resources - not just domestically, but in major parts of the world. Our planet's resources are not infinite, and the focus on sustainability and pressure on resources is increasing., This analysis takes a closer look at the use of natural resources in the Danish economy and presents the results of the first assessment of the Danish resource footprint. The resource footprint is an attempt to account for the resources extracted from nature both in Denmark and abroad for the goods and services used in the Danish economy., Main conclusions: , Danish imports in 2016 weighed 63m tonnes. However, the production of imported goods and services is associated with an additional intermediate consumption of 70m and 21m tonnes respectively, so that total imports accounted for a resource footprint of approximately 154m tonnes in 2016., The weight of the goods exported from Denmark in 2016 was 38m tonnes, but behind the production of this was a total extraction of 102m tonnes of raw materials in Denmark and abroad. Moreover, the production of services for export required 35m tonnes of raw materials., Denmark’s resource footprint per capita is considerably bigger than the EU average. Our consumption and investments etc. required extraction of 22 tonnes of raw materials per capita, whereas the EU average was 14 tonnes., The Danish resource footprint has grown since 2013, but is lower than in 2008. Especially the consumption of goods associated with non-metallic minerals, such as stone and gravel for the construction industry, has grown., Get as pdf, How the Danish consumption affects the world's natural resources, Colophone, How the Danish consumption affects the world's natural resources, Subject group: Environment and energy, Released: 14 February 2020 08:00, No. 2020:04, ISSN pdf: 2446-0354, Contact info:, Bogomil Emilov Iliev, Telephone:

    Analysis

    Analyses: Large increase in sales of goods abroad by Danish manufacturing industries

    Globalisation means that Danish enterprises are increasingly organising their production across borders. Today, processing abroad, traditional trading with goods across borders, as well as purchases and sales of goods not crossing Danish borders (merchanting) have become closely linked. This trend has been particularly strong over the past decade., This analysis describes how enterprises organise production internationally, with special focus on Danish manufacturing industries’ production and sales abroad. The analysis is based on new figures for balance of payments and international trade in goods and ser­vices, which were published on 10 October 2016., Main conclusions of the analysis: , In 2005, Danish manufacturers sold goods abroad which were not produced in Denmark for about DKK 8 bn. In 2015, this figure had risen to more than DKK 120 bn., Sales of merchanting goods by manufacturing industries, i.e. goods purchased and sold outside of Danish borders, amounted to almost DKK 70 bn. in 2015. The merchanting goods were primarily sold in other EU countries., Purchases abroad by Danish enterprises of foreign goods for processing abroad have in­creased over ten years from virtually zero to almost DKK 16 bn. In the same period, pur­chases by Danish enterprises of processing services abroad have risen from almost DKK , 1 bn. to almost DKK 9 bn., Get as pdf, Large increase in sales of goods abroad by Danish manufacturing industries, Colophone, Large increase in sales of goods abroad by Danish manufacturing industries, Subject group: Economy, Released: 18 November 2016 09:00, No. 2016:22, ISSN pdf: 2446-0354, Contact info:, Pia Nielsen, Telephone: 39 17 31 99

    Analysis