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Denmark's Competitiveness and Export Performance – Summary - Part 1

Exports of goods and services play a key role in economic development in Denmark. Although Denmark's exports have doubled since 1995, their share of the total import market has declined. The underlying factors are analysed in more detail in Part 2 of this Monetary Review. This article summarises the main findings. Measured in terms of production costs, Danish firms have lost competitiveness since 1995. However, there are indications that Danish firms have improved their competitiveness on other factors than price. The composition of exports across product groups and destination countries also plays a role. While the composition of goods exports across product groups has made a moderately positive contribution to Denmark's market share in the eight largest export markets since 1995, the contribution from the composition of exports across countries has been virtually neutral.