COPENHAGEN: In August, the export value of goods reached its highest level since November of last year. Goods exports benefited from the substantial exports of plant-based products for 91.7 mil. euro, including cereal exports to Algeria, Saudi Arabia, the Netherlands, Spain, Germany and France for a total of 58.2 mil. euro and rapeseed exports to Germany, Denmark, Finland, Lithuania, Norway and Sweden for a total of 16.7 mil. euro.
The substantial increase in cereal exports was fostered by a rise in cereal demand in the EU market and the record and the stocks of last year’s record harvest in Latvia. In August, a greater or smaller month-on-month increase was observed in most groups of goods. Year-on-year, growth was positive for plant-based products, base metal products, transport vehicles, chemicals, animal-derived products, wood, foodstuffs and textiles.
Owing to the good export indicators in August, the drop in goods exports in the first eight months of 2016 diminished year-on-year and was 1.5%. The year-on-year growth in goods exports is still unfavourably impacted by the drop in the exports of mineral products, mechanisms and electrical equipment, textiles and base metal products. A positive contribution to the growth of goods exports was provided by plant-based products (primarily, cereals, rapeseed and vegetables), transport vehicles (primarily, the one-off transaction with the yacht in July), pharmaceuticals, wood products, animal-derived products (primarily, fish), foodstuffs and construction materials. In a breakdown by country, the greatest decreases in goods exports were observed to Lithuania, Russia and Poland, whereas the greatest increases were to Denmark, Sweden, Germany, Uzbekistan, Kenya, Estonia, France and Saudi Arabia.
