丹麦10月贸易与经常账户盈余双双收窄 商品出口下滑拖累整体表现

Core Viewpoint - Denmark's trade surplus narrowed to 28.1 billion Danish kroner in October, down from a revised 34.1 billion kroner in September, indicating short-term pressure on Denmark's international balance of payments due to external economic conditions [1] Trade Performance - In October, Denmark's total exports decreased by 2.6% month-on-month to 178.3 billion Danish kroner, with goods exports falling significantly by 3.8% and services exports declining by 0.9% [1] - Conversely, imports increased by 0.8% month-on-month to 150.2 billion Danish kroner, driven by a 1.9% rise in goods imports, while services imports slightly decreased by 0.5% [1] Current Account Analysis - The goods account surplus decreased from 31.7 billion Danish kroner in September to 26.0 billion kroner in October, primarily due to the dual impact of declining exports and rising imports [1] - The services account surplus slightly narrowed to 2.1 billion Danish kroner from 2.4 billion kroner [1] - The primary income surplus decreased from 8.2 billion Danish kroner to 8.0 billion kroner, while the secondary income deficit narrowed from 3.4 billion Danish kroner to 3.2 billion kroner [1] Cumulative Performance - Despite the weak monthly data in October, the cumulative performance for the first ten months of 2025 remains resilient, with a trade account surplus of 272.7 billion Danish kroner, higher than 264.9 billion kroner in the same period of 2024 [1] - However, the cumulative current account surplus stands at 305.3 billion Danish kroner, slightly lower than the 307.0 billion kroner recorded in the previous year [1] Economic Influences - The decline in October exports may be influenced by a slowdown in global manufacturing activity and fluctuations in regional demand, while the growth in imports reflects relative stability in domestic consumption and investment [2]