A Snapshot: UK-Denmark Trade Relations

By Shaan Afzal-Khan

Shaan Afzal-Khan

Expanding on our UK-Arctic Trade and Investment Observatory, we are now building a collage of all the relevant information pertaining to UK-Denmark trade relations – with particular attention on the everyday relationship between the two countries – so all the information is at your fingertips. 

Period: Four quarters to the end of Q2 2021 (unless specified otherwise)

  • Rank as trading partner (goods and services):
    • 24th largest trading partner (accounting for 1% of total UK trade)
    • 23rd largest goods trading partner (accounting for 0.9% of UK goods trade)
    • 22nd largest services trading partner (accounting for 1.1% of UK services trade)
  • Rank as export market:
    • 25th largest export market (accounting for 1% of total UK exports) 
    • 25th largest goods export market (accounting for 0.8% of UK goods exports)
    • 20th largest services export market (accounting for 1.3% of UK services exports)
  • Rank of import market:
    • 21st largest import market (accounting for 1% of total UK imports)
    • 21st largest goods import market (accounting for 1% of UK goods imports)
    • 22nd largest services import market (accounting for 0.9% of UK services imports) 
  • Total trade in goods and services: £11.9 billion (decrease of 9.7% or £1.3 billion from previous year) 
  • Total UK exports to Denmark: £6 billion (decrease of 3.5% or £215 million from previous year) 
  • Total UK imports from Denmark: £6 billion (decrease of 15.2% or £1.1 billion from previous year) 
  • Outward stock of FDI (2019): £6.4 billion (0.4% of the total UK outward FDI stock)
  • Inward stock of FDI (2019): £7.2 billion (0.5% of the total UK inward FDI stock)

For further information, visit DIT’s Trade and Investment Factsheet for Denmark

Latest News about UK-Denmark Trade 

  1. Denmark has lifted many COVID restrictions and allowed the opening of certain venues (17/01/2022): https://www.independent.co.uk/news/helsinki-denmark-covid-visitors-mette-frederiksen-b1994103.html
  2. ICE London 2022 confirms former Danish regulator Birgitte Sand as new Ambassador (12/01/2022): https://www.yogonet.com/international/news/2022/01/12/60921-ice-london-confirms-former-danish-regulator-birgitte-sand-as-new-ambassador
  3. Denmark top Climate Protection Index ranking with the UK in fourth place (11/01/2022): https://www.en-former.com/en/denmark-atop-climate-protection-index-rankings/
  4. British multinational medical equipment manufacturing company ‘Smith+Nephew’ opens new commercial hub in Copenhagen (06/01/2022): https://orthospinenews.com/2022/01/06/smithnephew-opens-new-commercial-hub-in-copenhagen-denmark-to-better-serve-customers-across-the-nordic-region/
  5. London video-game maker ‘Tiny Titans Studio’ is sold to Danish firm ‘Trophy Games Development’ (20/12/2021): https://lfpress.com/business/local-business/london-game-maker-sold-to-danish-firm-as-founder-plans-move-to-bigger-platform
  6. Denmark raises GDP growth outlook to 3.9% for 2021 with prediction that the recent surge in COVID will not fundamentally change this (16/12/2021): https://www.bloomberg.com/news/articles/2021-12-16/denmark-raises-growth-forecast-as-economy-overpowers-virus-surge
  7. Denmark commits €26m to INEOS-led North Sea carbon capture project (10/12/2021): https://www.powerengineeringint.com/oil-and-gas-energy-transition/denmark-commits-e26-m-to-ineos-led-north-sea-carbon-capture-project/
  8. UK’s Global Screen Fund backs a UK-Germany-Denmark co-production about outgoing German Chancellor Merkel (09/12/12): https://deadline.com/2021/12/uks-global-screen-fund-9-international-co-productions-1234887691/
  9. British and Danish defence ministers issue a joint declaration affirming their relationship in response to rising threats (08/12/2021): https://www.gov.uk/government/news/british-and-danish-defence-ministers-issue-joint-declaration
  10. Danish home retailer JYSK announces record profits for UK & Ireland (06/12/2021): https://www.retailtimes.co.uk/danish-home-retailer-jysk-announces-record-profits-for-uk-ireland/
  11. Denmark to reduce fiscal stimulus in budget deal to avoid overheating ‘incredible’ economy (06/12/2021): https://www.bloomberg.com/news/articles/2021-12-06/denmark-to-cut-stimulus-for-incredible-economy-in-budget-deal
  12. Danish restaurant brand Sticks’n’Sushi says UK has overtaken its home market for revenue (02/12.2021): https://www.foodserviceequipmentjournal.com/sticksnsushi-says-uk-has-now-overtaken-its-home-market-for-revenue/
  13. Danish tech-start up Weld raises 4m for its all-in-one data platform and plans to expand into the UK (29/11/2021): https://www.eu-startups.com/2021/11/danish-data-platform-weld-nabs-e4-million-in-its-first-year-and-sets-sights-on-us-and-uk-expansion/
  14. Danish audio start-up Podimo raises $78m from London venture capital (24/11/2021): https://sifted.eu/articles/audio-platform-podimo-raise/
  15. Denmark has accused the UK of breaking the Brexit fishing deal over plans to ban bottom trawling in a North Sea conservation zone (17/11/2021): https://www.theguardian.com/politics/2021/nov/17/denmark-accuses-uk-of-breaking-brexit-fishing-deal-over-trawling-ban
  16. Wales joins COP26 Danish alliance to set an end date for exploring and extracting oil and gas (11/11/2021): https://www.bbc.co.uk/news/uk-wales-59248424
  17. UK opts out of COP26 Danish alliance to set an end date for exploring and extracting oil and gas (11/11/2021): https://www.thetimes.co.uk/article/cop26-uk-opts-out-of-danish-alliance-to-end-oil-and-gas-n6kqq2kl2
  18. North Sea oil and gas trade bodies that represent five countries (including the UK and Denmark) sign pact to cut emissions (10/11/2021): https://www.oedigital.com/news/491977-north-sea-oil-and-gas-trade-bodies-sign-pact-to-cut-emissions
  19. Denmark and the UK join other donors to pledge $12 billion in support to halt and reverse forest loss and protect land rights in developing countries (02/11/2021): https://www.gov.uk/government/news/12-billion-donor-support-to-halt-and-reverse-forest-loss-and-protect-land-rights
  20. Nordic and British pension funds to invest $130 billion by 2030 to fight climate change (02/11/2021): https://finance.yahoo.com/news/climate-investment-coalition-cic-announcement-102500570.html
  21. Danish investor AIP sells 25% stake in Liverpool offshore wind farm for £250 million (02/11/2021): https://www.business-live.co.uk/enterprise/major-stake-liverpool-offshore-wind-22038253
  22. Danish company Green Hydrogen Systems maintains its guidance as orders grow (including an order with a UK customer) (02/11/2021): https://www.marketwatch.com/story/green-hydrogen-systems-backs-guidance-as-3q-orders-grew-271635850769
  23. Danish Pharmaceutical company Novo Nordisk launches recycling for injection pens in the UK (01/11/2021): https://www.pharmacy.biz/novo-nordisk-launches-recycling-for-injection-pens-with-community-pharmacies-playing-key-role/
  24. Loganair adds route from Teesside International airport to Esbjerg in Denmark by extending an existing route from Aberdeen to the Danish port (01/11/2021): https://travelweekly.co.uk/news/air/loganair-adds-teesside-to-denmark-link
  25. Denmark’s DFDS have shown growing interest in their new land and sea shopping facilities connected to Britain-EU ferry routes due to the reintroduction of duty-free pricing at the start of the year (24/10/2021): https://www.forbes.com/sites/kevinrozario/2021/10/24/booming-retail-sales-from-brexit-set-new-course-for-britain-eu-ferry-market/?sh=6c7c27c63b0a
  26. Ørsted signs a memorandum of understanding with Edinburgh Airport to signify a partnership with the aim of helping to decarbonise the airport in line with its 2040 target (21/10/2021): https://renews.biz/73054/orsted-gives-edinburgh-airport-net-zero-ambition-wings/
  27. Ørsted completes foundations installation at Hornsea Two offshore wind farm (21/10/2021): https://www.windpowermonthly.com/article/1731095/orsted-completes-foundations-installation-hornsea-two-offshore-wind-farm
  28. Pandora, a Copenhagen-headquartered Jewellery brand, has announced that it is now paying its UK workers the current living wage (19/10/2021): https://employeebenefits.co.uk/pandora-becomes-living-wage-employer/
  29. Maersk diverts ships away from busy UK ports due to Trucker shortage (12/10/2021): https://www.bloomberg.com/news/articles/2021-10-12/maersk-diverts-ships-from-jammed-u-k-ports-short-on-truckers
  30. Denmark joins fellow EU member states in issuing a joint warning to the UK over reduced fishing rights following Brexit (11/10/2021): https://www.theguardian.com/business/2021/oct/11/eu-member-states-to-issue-joint-warning-to-uk-over-reduced-fishing-rights
  31. The British science museum has announced the opening of a new permanent gallery in 2020 designed by Copenhagen-based JAC Studios (30/09/2021): https://www.designweek.co.uk/issues/27-september-3-october-2021/science-museum-gallery-technicians/
  32. Lorry driver shortages in Denmark are expected to impact imports of Christmas trees into Britain (22/09/2021): https://www.mirror.co.uk/news/uk-news/brits-face-christmas-without-tree-25043485
  33. Danish firm Danfoss invests £25 million on green tech centre in Edinburgh (22/09/2021): https://www.edinburghnews.scotsman.com/business/jobs-boost-as-work-kicks-off-on-green-tech-centre-on-outskirts-of-edinburgh-3391737
  34. Danish renewables giant Orsted plans to directly invest up to £12 billion in Scotland if it is successful with all five of its bids in the ScotWind offshore wind auction (21/09/2021): https://www.pressandjournal.co.uk/fp/business/scotland-business/3483059/exclusive-renewables-giant-orsted-reveals-multibillion-pound-plans-for-scotland/

Shaan Afzal-Khan is a Global Leadership Fellow at Polar Research and Policy Initiative. He is part of the PRPI team behind the UK-Arctic Trade and Investment Observatory, and serves as the lead for the Kingdom of Denmark and Russia.