Export grows to new EU countries
Eastern Europe's healthy appetite for Danish goods is driving a growing export market to new EU member countries
In the first four months of 2006, Denmark's exports to new EU countries rose by 40 percent, an almost threefold growth compared to the country's other export markets, according to Statistics Denmark.
New eastern EU countries have become regular growth markets where the tempo of exports eclipses advancements in traditional export markets.
'Denmark's exports accelerated after 1 May 2004 and it is a clearly because of the new EU countries,' said Lars Christensen, a senior analyst at Danske Bank, to financial journal Børsen.
Denmark's combined exports to Eastern Europe, including non-EU countries, rose 36 percent compared to the same period last year. Meanwhile, exports to non-EU countries rose 29 percent.
The Danish Trade Council has high expectations for the Eastern European markets for the coming years and notes Poland as a particularly interesting market.
'There are large expansion capabilities in the new EU countries,' said Sven Roed Nielsen, who is responsible for foreign trade for the trade council. 'We expect high growth of exports driven by growing sales potential and economies.'
In all, exports to Eastern Europe were worth DKK 12.5 billion in the first four months of this year.
Chemicals, rubber, telecommunications and sound equipment have been some of the largest export products thus far. Transportation products, hides, leather goods and meat are also seeing a market rise.
