Imports of goods
17. Jan 2023
Imports are peaking
Imports in the January-November 2022 period amounted to DKK 11.3 billion. This is a 33% increase on the same period in 2021. Excluding imports of ships and aircraft, this increase stands at 23%. Imports appear to have peaked as the recent growth in imports is now starting to slow down.
Oil prices remain high, which is reflected in the import figures. Fuel imports totalled DKK 2.1 billion in the first 11 months of 2022, a 75% increase on the same period in 2021.
Imports of industrial materials increased by 16-35% in the first 11 months of this year, while imports of goods for household consumption only increased by about 1%.
The effect of inflation on import volume varies across the commodity groups. For instance, it appears that the import volume of construction materials, transport equipment and consumer goods has gone down, while the volume of materials for aqua and agriculture remains steady, despite the price hikes seen in the past year.
Imports from Russia amounted to DKK 223,000 in November 2022. These imports predominantly consisted of construction materials.