Denmark experienced a marginal decline in its foreign trade surplus for August, as reported by Statistics Denmark on Wednesday. This reduction was attributed to a sharper decrease in exports compared to imports. The overall trade surplus diminished to DKK 28.3 billion in August, down from DKK 28.6 billion in July.
In detail, exports witnessed a 0.4 percent decline month-on-month in August, while imports decreased by 0.3 percent. Nevertheless, the surplus in goods trade showed an increase, rising to DKK 27.9 billion in August from DKK 26.8 billion in the previous month. This uptick was fueled by a 1.2 percent increase in exports, whereas imports edged up by a mere 0.1 percent.
Conversely, the surplus in services trade contracted significantly, dropping to DKK 0.5 billion in August from DKK 1.8 billion in July, primarily due to weaker export performance in this sector.
Additionally, data indicated a slight increase in the current account surplus, which grew to DKK 33.6 billion in August from DKK 33.1 billion in July.
