Denmark Trade Surplus Grows In May

(RTTNews) - Denmark's foreign trade surplus increased in May, as exports grew much faster than imports, figures from Statistics Denmark showed on Monday.

The total trade surplus rose to DKK 21.2 billion in May from DKK 15.1 billion in April.

Exports were 4.9 percent higher in May compared to April, while imports increased by only 0.9 percent.

The goods trade balance turned to a surplus of DKK 2.1 billion in May from a deficit of DKK 2.1 billion in April. Goods exports grew 5.9 percent and imports rose 0.4 percent.

The surplus in the services trade advanced to DKK 19.0 billion in May from DKK 17.2 billion in the previous month. Both exports and imports climbed by 3.9 percent and 1.7 percent, respectively.

Data also showed that the current account surplus rose to DKK 26.7 billion in May from DKK 20.6 billion in the previous month.

The service trade logged the largest contribution to the surplus on the balance on payments in May. The growth in service trade surplus was largely driven by more exports of maritime transport.