Denmark's international trade cooled in March 2025, as both imports and exports experienced declines, while the country's current account surplus widened, driven largely by a drop in goods imports.
According to Statistics Denmark, total exports of goods and services fell by 1.0 percent to DKK 174.3 billion, while total imports decreased more sharply by 2.3 percent to DKK 147.2 billion. On a quarterly basis, total exports fell by 3.6 percent in Q1 2025 compared to the previous quarter, while imports were down by 2.8 percent. All figures have been seasonally adjusted and calculated in current prices.
The contraction in trade activity contributed to an increase in Denmark's current account surplus, which rose to DKK 33.4 billion in March from DKK 29.9 billion in February. 'The surplus on trade in goods increased by DKK 3.3 billion in March, due to a decrease in imports, while the surplus on services decreased by DKK 1.4 billion,' Statistics Denmark reported.
Within goods trade, exports dipped slightly by 0.5 percent to DKK 102.8 billion, while imports declined more significantly by 4.7 percent to DKK 76.5 billion. The category 'Goods crossing the Danish border' showed a particularly notable drop in imports, falling by 5.3 percent to DKK 68.4 billion. Exports in the same category decreased by 0.8 percent.
In terms of services, export value decreased by 1.6 percent to DKK 71.6 billion, while imports edged up slightly by 0.3 percent to DKK 70.7 billion. As a result, the services surplus narrowed to just DKK 0.9 billion.
Figures were also adjusted retrospectively. "The current account surplus has been revised downward by DKK 0.6 billion for January-February 2025 compared to the latest publication. This is mainly due to new knowledge from companies," the agency noted. Despite this, revenue was revised upwards by DKK 8.7 billion, while expenditure was revised upwards by DKK 9.2 billion.
Other segments of the balance of payments also saw movement. Income from abroad increased by 6.2 percent in March, while expenses related to income grew by 3.1 percent. Revenue from ongoing transfers rose by 7.8 percent, with expenses declining slightly by 3.1 percent.
The broader picture over the first quarter of 2025 suggests a slower trade environment compared to late 2024. Exports of goods and services totalled DKK 510.7 billion in Q1, while imports stood at DKK 438.3 billion. This marks a contraction from Q4 2024, when exports reached DKK 467.8 billion and imports DKK 406.6 billion.
More information:
Statistics Denmark
www.statistikbanken.dk