Large surplusses on balance of payments and trade balance

The surplus on the balance of payments rose by as much as DKK 26.2 billion in 2009 to DKK 64.2 billion – the largest surplus in five years.
»We have to go back to 2005 to find a similar surplus on the balance of payments which then amounted to DKK 67.1 billion,« Statistics Denmark wrote.
Also the trade balance now shows a considerable surplus after a massive import decline.
»Denmark’s foreign merchandise trade was considerably lower in 2009 than the previous year. The import fell in 2009 by DKK 117 billion, corresponding to 21 per cent. The export declined a little less by DKK 95 billion, corresponding to 16 per cent,« Statistics Denmark wrote.
This increases the trade surplus by DKK 22 billion in 2009 to DKK 52 billion.

»The surplus for goods and wage and investment income rose by DKK 3.7 billion and DKK 2.6 billion respectively, while the surplus one the balance of services declined by DKK 0.6 billion. The deficit in current transfers increased by DKK 0.9 billion in December compared to the same month the previous year,« Statistics Denmark wrote.

The import decline has affected all commodity groups.
»But especially the import of manufactured goods, mainly semi-manufactured goods, has fallen drastically with one third – from DKK 92 billion in 2008 to DKK 62 billion in 2009,« Statistics Denmark wrote.
Also the import of machinery has fallen considerably. The changes are particularly important in the trade with Denmark’s largest trading partners, Germany and Sweden.
The import from Germany has declined by DKK 25 billion corresponding to over 21 per cent, and the import from Sweden has fallen DKK 19 billion or about one fourth.