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Strong US dollar sends Danish exports soaring

Christian Wenande
May 12th, 2015


This article is more than 9 years old.

US overtakes Norway as Denmark’s third most important export market

Denmark’s economy looks to be heading for better times, if the nation’s trillion-kroner export figures are anything to go by.

After several years of stagnancy, Danish exports shot up by 6.4 percent in the first three months of 2015. A stronger US dollar and a weaker Danish kroner and euro has something to do with it.

“Danish pharmaceutical companies sold for 6.79 billion kroner in the US alone during this year’s first quarter, which is almost half of the total exports to the US,” Jørgen Clausen, the head economist at pharmaceutical industry advocate organisation Lægemiddelindustriforeningen, told Berlingske newspaper.

“The growth in sales is at 48 percent and covers a larger amount and value due to the rise of the dollar.”

READ MORE: Denmark has doubled its water tech exports to China

US passes Norway
The US dollar has increased in value by 23 percent over the past year – a development that has catalysed an unprecedented rise in the sale of Danish goods to the US. The US has now surpassed Norway as Denmark’s third most important export market after Germany and Sweden.

In total, Danish exports to the US rose by 3.6 billion kroner during the first quarter of 2015. Some 2.2 billion kroner of that, about 61 percent, can be attributed to pharmaceutical companies such as Novo Nordisk, LEO Pharma and Lundbeck.

The trade and development minister, Mogens Jensen, called the news “very positive for Denmark’s economy and employment”.


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A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”