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In a time when economic weariness is the menu of the day in most of Denmark's traditional export markets, a new hope is appearing on the horizon. For while the global economy as a whole is experiencing growing woes, the new growth engines of Brazil, Russia, India and China – the so-called BRIC countries – continue to hold their respective heads high.
But while the BRIC collective's immediate economic future remain very optimistic – Russia has even had its growth predictions revised upwards in the past six months – Denmark needs to seriously restructure its current export strategy. Only 13% of Danish overall export is currently going to non-OECD countries, not impressive compared to the EU-15 average of 19%, fellow Nordic country Finland's 30% and EU fellow member Greece's hefty 42%.
Most economic exports agree that the BRIC markets hold a huge potential for Danish companies, and a way out of the worst effects of the global recession feared to be steadily approaching. But Denmark needs to look to countries like Finland and Greece for advice on how to increase market shares in enormous third-world nations like China. Both the Finnish and the Greek national economies are comparable to the Danish, insofar as both are small in scale and open in nature. The trick now is for Danish companies to watch and learn, and do it as quickly as possible.
Full story in Danish
News category: Denmark
Published on this site: Sep. 6, 2008
Source:di.dk/opinion
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