Børsens News Service in English
Caution Urged Over Export Growth
06-08-2010
12:07
Recent positive export figures in exports must be taken in the right context, a Danske Bank analyst has warned.
According to figures issued by government analysis bureau Danmarks Statistik earlier this week, exports have risen by 22.6 percent in the past year and 5.8 percent in the second quarter of 2010. In addition, the balance of payments surplus from May 2009 to May 2010 was, at DKK 76.7 billion, historically high.
However, Danske Bank Senior economist Christian Hiligsøe Heine warned that this figure masks a loss of exports of roughly DKK 70 billion and a fall in imports of DKK 125 billion.
"The balance of payments figures should not be used to claim that things are going well here at home” he said. “While the figures look positive for Denmark now, it is because the general price trend has benefited Danish exports and the figures reflect this”.
According to figures issued by government analysis bureau Danmarks Statistik earlier this week, exports have risen by 22.6 percent in the past year and 5.8 percent in the second quarter of 2010. In addition, the balance of payments surplus from May 2009 to May 2010 was, at DKK 76.7 billion, historically high.
However, Danske Bank Senior economist Christian Hiligsøe Heine warned that this figure masks a loss of exports of roughly DKK 70 billion and a fall in imports of DKK 125 billion.
"The balance of payments figures should not be used to claim that things are going well here at home” he said. “While the figures look positive for Denmark now, it is because the general price trend has benefited Danish exports and the figures reflect this”.
*****||*****Caution Urged Over Export Growth *****||*****Recent positive export figures in exports must be taken in the right context, a Danske Bank analyst has warned.*****||*****
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