Denmark Import and Export Data - Tendata

tendata blogTrade Data

ten data blog23-11-2023

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Imports

The Kingdom of Denmark, a Nordic country southwest of Sweden, has a total cost of imported goods of $126.4 billion in 2022. From 2021 to 2022, the total cost of imported goods in Denmark rises by 3.8% from USD 121.8 billion.



Denmark's Largest International Product Supplier

The latest country-specific data show that Denmark's imports are mainly supplied by exporters from Germany (15.7% of Denmark's global total), Sweden (11.5%), the Netherlands (6.9%), mainland China (6.5%), Norway (5.7%), Poland (5.6%), the United States (4.1%), Belgium (3.6%), Italy (3.5%), France ( 2.5%), UK (2.1%) and Spain (2%).



Denmark's Top 10 Imports

1. Fossil fuels including oil: $14.4 billion (11.4% of total imports)

2. Machinery including computers: $14.2 billion (11.3%)

3. Electrical machinery and equipment: $11.5 billion (9.1%)

4. Vehicles: $9.7 billion (7.6%)

5. Pharmaceuticals: $5.8 billion (4.6%)

6. Plastics, plastic products: $5.2 billion (4.1%)

7. Iron and steel products: $3.8 billion (3%)

8. Iron and steel: $3.8 billion (3%)

9. Fish: $3.7 billion (3%)

10. Optical, technical, medical equipment: $3.6 billion (2.8%)


Denmark's top ten imports account for three-fifths (59.8%) of the total value of products it purchases from other countries.


Fossil fuels, including oil, are the fastest growing cost category among Denmark's top 10 imports, growing 41.8% from 2021 to 2022. Denmark's leading category is driven by increased purchases of oil (crude and refined) and oil and gas imports. In second place are Danish fish imports (up 65.1%), ahead of raw material steel imports (up 20.1%).


The worst decline was in Danish imports of pharmaceuticals, down -10.7% year-on-year.


According to the more granular 4-digit HS code, Danish importers imported automobiles (4.3% of the Danish total), dosage-mixed medicines (3.1%), processed petroleum (2.9%), crude oil (2.9%), electrical energy (2.6%), computers (2.3%), telephone equipment (including smartphones) (2%), whole fresh fish (1.5%), LPG (1.5%) and blood components (including antisera) (1.2 %).



Exports

In 2022, Denmark exported $128.9 billion worth of goods to the world. Compared to $125 billion in 2021, total Danish exports increased by 3.1% year-on-year.


Denmark's top five most valuable exports are dosage-mixed medicines, blood components including antisera, electricity, pork and refined petroleum.



Denmark's Most Valuable Trading Partners

The latest country-specific data show that the majority of Denmark's exports were purchased by importers in Germany (15.7% of Denmark's global total), Sweden (11.5%), the Netherlands (6.9%), Norway (6.5%), the USA (5.7%), the UK (5.6%), Poland (4.1%), France (3.6%), mainland China (3.5%), Italy (2.5%), Spain (2.1%) and Finland (2 %).



Denmark's Top 10 Exports

1. Pharmaceuticals: US$20.1 billion (15.6% of total exports)

2. Machinery including computers: US$16.8 billion (13.1%)

3. Mineral fuels including oil: $9.6 billion (7.4 %)

4. Electrical machinery, equipment: $8 billion (6.2%)

5. Optical, technical, medical equipment: $4.7 billion (3.6%)

6. Fish: $4.2 billion (3.3%)

7. Meat: $4.0 billion (3.1%)

8. Vehicles: $3.8 billion (3%)

9. Furniture, bedding, lighting, signs, prefabricated buildings: $3.8 billion (2.9%)

10. Dairy products, eggs, honey: $3.2 billion (2.5%)


Denmark's top 10 exports accounted for 60.8% of its total global exports.


Fossil fuels, including oil, are the fastest growing of the top ten export categories, growing by 56.8% from 2021 to 2022. Ranking second in terms of improved export sales is fish, with an increase of 18.6%. Danish shipments of dairy products, eggs and honey appreciated the third fastest, growing by 14.4%.


The biggest fall in Denmark's top ten export categories was electrical machinery and equipment, down -16% year-on-year.


According to the more detailed four-digit HS codes, Denmark's most valuable exports were dose-mixed medicines (12.5% of the total), blood components including antisera (2.7%), electrical energy (2.6%), pork (2.2%), processed petroleum (1.9%), cheese and curds (1.6%), hormones and all kinds of steroids (1.5%), automobiles (1.4%), all kinds of furniture (1.4%), and then computers, including optical readers (1.3%).




Customs data contains a vast amount of information, and extracting relevant customer contact information can be time-consuming. Is the outcome truly unsatisfactory, or is it due to using customs data in the wrong way, resulting in wasted effort and time?


Utilizing customs data for customer development involves accurately profiling all purchasers and their procurement systems in the target market. This approach swiftly identifies the highest compatibility customers, assesses their credit systems and procurement details, pinpoints premium customers and profit potential, enhances development efficiency, and elevates results. When developing new clients using customs data, consider the following three approaches for reference. (>>>Click to Get Free Access to Customs Data from 80+ Countries<<<)


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1. Establishing a Customer Resource Repository by Country

Creating a customer resource repository is akin to your own work record sheet. Begin by utilizing trade tracking functionality to compile a list of all customers from a particular country. Next, perform specific analyses based on factors such as each purchaser's procurement volume, purchase cycle, product specifications, and supplier systems (with emphasis on examining the diversity or singularity of their supply channels; preferably retaining customers with diversified suppliers, as those relying on a single supply channel may be harder to develop). Lastly, filter out the potential high-quality customers constituting 30% of this country's total, and record them in your customer resource repository, allowing flexible categorization by country, time, customer name, follow-up steps, contact numbers, emails, and contacts. (>>>Click to Start Developing Customers for Free<<<)


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2. Creating a Customer Resource Repository by Peer Companies

Have a solid understanding of peer companies' English names (including full names, abbreviations, etc.). Utilize the global networking capability of suppliers to generate a list of all clients associated with peer companies within the system. Following this, perform essential analyses on these clients based on factors like procurement volume, procurement cycle, product models, and others. Ultimately, identify and record the key customers of your targeted peer companies in your customer resource repository.(>>>Click to Start Developing Customers for Free<<<)


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3. Cataloging New Customers from Each Country

For newly emerging customers from specific countries, use the trade search function to select the country, set the date range and limit product names or customs codes. Check "Newest," and the search results will display high-quality customers that emerged most recently in that country within the designated timeframe. Since these customers are newly established, with recent procurement transactions, their supplier stability might be unsteady. Therefore, prioritize following up with these new potential buyers. Lastly, record all these new prospects in your customer resource repository.、(>>>Click to Start Developing Customers for Free<<<)


All three strategies for utilizing customs data to develop customers can be tailored to your company's actual needs. Depending on market conditions, industry specifics, strategic requirements, etc., find the approach that suits you best, with the sole aim of classifying and organizing your premium customers. Once you've found suitable customers, the next step is to contact them precisely, employing various methods such as phone calls, emails, and online chats.


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