Imports of goods
15. Jan 2025
Fuel imports down DKK 300 million
The graphs below show import values and volumes in the December 2023 - November 2024 period compared with the previous 12-month period.
The drop in imports is driven by lower import values of fuels and ships. Imports of fuels and other oils fell by more than DKK 300 million.
Imports of machinery, engines, ships and vehicles fell by just over DKK 1 billion (31%). This decline mainly applies to ships, but vehicle imports fell by DKK 123 million, almost 20%.
[px-graph-1]
The decrease in import value of fuels stems from a combination of lower prices and a reduced volume of imports.
The table below shows fuel imports, excluding gas oil sold to foreign ships.
Import data suggests a decline in vehicle fuel consumption, with petrol and diesel imports decreasing by 5-6%. Imports of fuel for heating and maritime use have also gone down by just over 11%.
[px-graph-2]
The graph below illustrates a consistent downward trend in imported fuel prices since May 2022, with a minor upward fluctuation observed in September 2023.
[px-graph-3]
The table below shows that considerably less is imported from the EU and the USA, while imports from non-EU Europe have increased. Imports from the EU decreased by DKK 1.3 billion (20%), while imports from non-EU Europe increased by DKK 883 million (44%).
[px-graph-4]
Imports from the EU have now returned to the same level as before 2022, at around DKK 400 million per month. In 2022 and 2023, these imports ranged between DKK 500-600 million per month. Meanwhile, imports from non-EU Europe have been growing in recent years, going from around DKK 100 million per month to DKK 150-200 million per month. Imports from Asia have remained at the same level for many years.
[px-graph-5]