Denmark's exports remained largely unchanged in June 2025, with official figures from Statistics Denmark showing a marginal decline of 0.2 percent to DKK 172.3 billion compared to May. This headline stability conceals contrasting movements: goods exports rose by 2.0 percent, while services exports fell by 3.3 percent. Imports decreased by 0.7 percent to DKK 149.1 billion.
Over the past three months, total exports have slipped by 0.2 percent, while imports edged up 0.3 percent, according to seasonally adjusted figures at current prices.
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Trade with the United States
In the second quarter of 2025, Denmark's total exports to the United States reached DKK 89.5 billion, up DKK 3.5 billion from the first quarter. This comprised a DKK 2.1 billion increase in goods exports to DKK 62.2 billion, and a DKK 1.4 billion rise in services exports to DKK 27.3 billion. However, in June alone, exports to the US fell 4.1 percent to DKK 29.3 billion. The fluctuation was attributed mainly to goods sold abroad after processing, a segment known for volatility.
Balance of payments surplus
Denmark's current account surplus in the first half of 2025 stood at DKK 157.2 billion, a DKK 2.7 billion increase compared to the same period last year. The improvement was driven by a DKK 19.8 billion rise in the surplus on goods that do not cross the Danish border. In contrast, the surplus on services fell by DKK 7.2 billion, while the surplus on income declined by DKK 10.3 billion.
In June, the current account surplus reached DKK 27.3 billion—up DKK 0.7 billion from May's DKK 26.6 billion. This month-on-month gain was supported by a DKK 1.9 billion increase in the goods trade surplus, partially offset by a DKK 1.1 billion fall in the services surplus.
Data revisions
Statistics Denmark revised the current account surplus for January–May 2025 downward by DKK 2.8 billion compared to the previous publication, citing updated company data.
Sectoral insights
Goods exports crossing the Danish border rose by 4.0 percent in June to DKK 79.7 billion, with imports down 0.5 percent to DKK 72.6 billion. Meanwhile, exports of goods not crossing the border dropped by 3.9 percent to DKK 24.9 billion, while imports in this category rose 5.6 percent to DKK 8.0 billion.
Services exports fell to DKK 67.7 billion, down 3.3 percent, while services imports declined by 1.7 percent to DKK 68.6 billion.
Contextual notes
The figures are seasonally adjusted to account for regular fluctuations. Statistics Denmark emphasised that seasonal adjustment currently carries increased uncertainty due to the substantial data volatility seen during and after the COVID-19 period.
The next update on Denmark's balance of payments and foreign trade will be released on 8 September 2025.
More information:
Danmarks Statistik
www.dst.dk
