Blue Denmark Continues To Generate High Earnings For The Economy

The latest report on employment and production in Blue Denmark shows that Danish shipping continues to generate high earnings for the Danish economy.

Danish shipping alone contributed exports of DKK 224 billion in 2019 and thus accounts for the majority of the total exports of maritime transport of a total of DKK 240 billion and thus continues to contribute greatly to Denmark’s economy. This is shown by the latest report on production and employment in Blue Denmark.

Blue Denmark (BD) accounts for 26.5 percent of the total Danish exports of goods and services and accounts for 7 percent of the entire Danish economy.

Image Credits: dma.dk

High earnings

The report also shows that each job in Blue Denmark contributes on average more than twice as much to Danish GDP as the average in the Danish economy. BD’s share of Danish employment is 3.4 per cent but 7.3 per cent of value creation.

In 2019, BD employed 97,290 people, when the indirect contribution through demand for goods and services in other Danish industries is recognized. This corresponds to 3.4 percent of the total employment in Denmark. It is the same level as in 2018.

Production in BD was DKK 466 billion in 2019, when the indirect contribution is counted. That equates to 11.4 percent of total production. Value creation is DKK 137 billion or 7.3 percent of the total economy when the indirect contribution is counted.

A versatile industry

BD has a strong position in the global market. Denmark has the world’s fifth largest merchant fleet measured by total cargo capacity and is at the forefront of safety and quality in shipping, not least when it comes to sustainability, innovation and good seamanship.

Reference: dma.dk

Source: Maritime Shipping News