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Trade between Denmark and Canada in 2008.
The Wind is in the Back of Exports from Denmark to Canada.
In In 2008, the two-way trade between Denmark and Canada amounted to more than 1.8 billion Canadian dollars - an increase of 15% to an all time high. The balance of trade is very much in Denmark’s favour.
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The Danish krone strengthened 5.5% towards the Canadian dollar in 2008, a trend that has continued as it has so far this year gained another 5% towards the dollar and is valued at approx. 4.54 DKR to a Canadian dollar by March, 2009.
The average exchange rate used for the below trade figures for 2008 is 4.78 DKR to 1 Can. $ compared to 5.05 DKR to 1 Can. $ in 2007.
The total annual Danish import from Canada in 2008 amounted to 2,785 mill. DKR, corresponding to 583 million dollars, a drop of about 4% compared to 2007. The biggest items on the trade statistics are now again fish and seafood (mainly shrimps), followed by import of aircraft, equipment and parts. These two sectors alone amount to half of the total Canadian export to Denmark.
A large increase has taken place in the imports of raw mineral oil, products thereof and oil from plants and fruits from Canada, as can be seen from the below statistics. The import of machinery and parts increased by 13% to 44 million dollars. Import of cork, wood and paper products at a value of 9 million dollars - a decrease of 57% - now no longer is amongst the top five.
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The five biggest sectors covering 70% of all imports from Canada in 2008 were: |
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2007 |
2008 |
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mill. $ |
mill.
$ |
change |
| Total |
606 |
583 |
- 3.8% |
| Fish and seafood |
189 |
168 |
-
11.2% |
| Aircraft and equipment/parts |
195 |
123 |
-
37.0% |
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Machinery and parts |
39 |
44 |
+
12.8% |
|
Raw Mineral Oil and products thereof |
14 |
43 |
+ 307.0% |
| Oil from plants and fruits |
18 |
29 |
+
61.0% |
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Source:
Denmark's Statistic |
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The Danish export to Canada in 2008 amounted to 6,025.8 mill. DKR, corresponding to 1,261 mill. dollars, an increase of 26.5% compared to 2007. The all dominant items in the 2008-trade were machinery and parts (windmills), which amounted to 46% of total Danish exports to Canada. The export of North Sea oil dropped by no less than 76.5% to a value of 92 million dollars from 391 million dollars in 2007. The export of pharmaceuticals and medical products increased by 40% to 181 million dollars. Exports of metal goods reached 62 million dollars from a 2007 export-figure of 20 million dollars.
Sales of Danish agri-food products to Canada increased by 26.5% to 43 million dollars from 34 million dollars in 2007 due to the fact that the export of Danish meat and meat products to Canada nearly doubled to 16.5 million dollars. The export of cheese from Denmark to Canada, however, fell a bit as many of the Danish cheeses are now produced in Canada. In 2008, the previously very strong export of furniture, fashion and articles of apparel from Denmark into Canada nearly completely disappeared from the trade statistics.
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The five biggest sectors covering 76% of total exports from Denmark to Canada
in 2008 were: |
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2007 |
2008 |
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mill. $ |
mill.
$ |
change |
| Total |
997 |
1,261 |
+
26.5% |
| Machinery
and Parts |
178 |
582 |
+ 327.0% |
| Pharmaceuticals
and medical products |
129 |
181 |
+ 40.3% |
| Oil |
391 |
92 |
- 76.5% |
| Agri-food,
agricultural products |
34 |
43 |
+ 26.5% |
| Metal Goods |
20 |
62 |
+
310.0% |
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Source:
Denmark's Statistic |
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Due to the close proximity, there is a developing trade between Greenland and Canada. Canadian companies being involved in mining development, etc. on Greenland and many consumer items being purchased from Canada. |
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Knud Westergaard |
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