Other publications may include books, quarterly reviews, annual reports and economic bulletins from the ECB, PhD theses and Danmarks Nationalbank’s policies.


Global value chains

A final product is created through a chain of activities such as design, production, marketing and distribution, each of which adds value to the product. When activities are distributed among multiple firms, value chains are created. Using value chain analysis, Vol. LV, No. 1 Danish value added can be tracked from the production of intermediate inputs to their final use. This provides a more accurate picture of how the level of Danish production and employment depends on foreign demand than that provided by traditional trade analyses. Germany is Denmark's largest trading partner, but measured by final use of Danish value added, Germany is less important than in terms of direct exports. The USA and China, on the other hand, are more important trading partners. Nearly 800,000 Danish jobs are linked to exports. These jobs are split about equally between jobs with exporters and jobs with the subcontractors of exporters.