Large drop in Danish exports, but the composition might ease the fall

Economic Memo – June 2020 – No. 8

Authors Schmith, Adrian Michael Bay; Christensen, Helle Eis
Subject Balance of payments! foreign trade and external debt; Economic activity and employment
Type Economic Memo
Year 2020
Published 17 June 2020
Danish exports are expected to decline significantly in the coming quarters. However, the composition of Danish exports might ease the fall. Exports of goods account for the majority of Danish exports and are less affected as they largely consist of less cyclical goods. More cyclically sensitive exports are also more employment intensive, and hence employment in export-oriented industries will be hit harder than the actual value of exports. (Memo available in Danish only)