Denmark saw a modest increase in goods and services imports in May 2025, rising 1.7 percent to DKK 149.6 billion, even as total exports fell by 0.8 percent to DKK 172.9 billion, according to new data from Statistics Denmark. The trade developments contributed to a narrowing current account surplus, signalling potential recalibration in the country's external balances.
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The current account surplus dipped to DKK 28.3 billion in May, down DKK 1.6 billion from April's figure of DKK 29.9 billion. The decline was mainly driven by a DKK 3.4 billion fall in the goods surplus, reflecting the rise in imports. The surplus on services also edged down by DKK 0.5 billion.
Notably, imports of goods alone increased by 2.7 percent in May to DKK 80.2 billion, while goods exports contracted by 1.2 percent to DKK 102.9 billion. Trade in services remained relatively flat, with exports inching down 0.1 percent and imports up 0.6 percent.
Across the last three months, however, a downward trend persisted. Imports dropped by 6.5 percent and exports declined by 3.7 percent compared to the previous quarter.
The May figures were further clouded by revisions to earlier data. 'The current account surplus has been revised downwards by DKK 13.0 billion for January-April 2025 compared to the latest publication. This is mainly due to new knowledge from companies. Revenue was revised downwards by DKK 4.0 billion, while expenditure was revised upwards by DKK 9.0 billion,' the agency stated.
While some segments showed resilience, such as exports of goods not crossing Danish borders, which rose by 3.7 percent, overall trade momentum has softened. Goods exports that physically crossed borders fell by 2.8 percent, and imports in that category climbed 3.9 percent.
The balance of payments remains a key barometer for Denmark's economic health. Statistics Denmark cautions that 'seasonal adjustment is currently associated with greater uncertainty due to the large fluctuations in data during COVID-19.'
The next release of Denmark's balance of payments data is scheduled for 11 August 2025.
More information:
Danmarks Statistik
www.statistikbanken.dk