The import climate is open and receptive to U.S. products and investments. U.S. firms report no significant trade barriers. Danish imports are diversified, and many market opportunities are available.
The most promising sectors for market growth for U.S. non-agricultural companies in the coming year include digital technologies and services, healthcare and life-science products and services, tourism services, renewable energy, and security and defense-related systems and products. The most promising agricultural export prospects are wine, forest products, feed (including pet food), fresh vegetables, and processed foods.
U.S. companies are expected to maintain and expand their market share in Denmark in the coming years. In high-technology areas, such as information technology and medical equipment, U.S. companies are already market leaders and are expected to increase their lead.
Denmark is an industrialized “value-added” country dependent on foreign supplies of most raw materials and semi-manufactured goods. Denmark is an oil and gas producer but since 2018 has been a net importer of oil and gas.
The Danish government has set a target of becoming carbon neutral by 2050 and has made ambitious plans to invest in renewable energy sources, such as wind power and solar power, to help achieve this goal. The country is a leading exporter of wind turbines, and it is also a major producer of biomass energy. Denmark is well-positioned to be a leader in the transition to a clean energy future.
Services are playing an increasingly important role in bilateral trade. Communication and information technologies play a steadily growing role in the Danish/U.S. services trade. Other important service sectors include management consulting and financial services. Tourism is a growing market, as more than 330,000 Danes visit the United States each year. These numbers reflected the general trend before the start of the COVID-19 pandemic.