Russia (RUS) and Denmark (DNK) Trade

2023

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Exports $347MRnk 57 / 137

2023

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About

Russia-Denmark Trade: In 2023, Russia exported $347M to Denmark. The main products that Russia exported to Denmark were Semi-Finished Iron ($286M), Non-fillet Frozen Fish ($20.8M), and Other Vegetable Residues ($12.1M). Over the past 5 years the exports of Russia to Denmark have decreased at an annualized rate of 30.9%, from $2.21B in 2018 to $347M in 2023.

In 2020, Russia exported services to Denmark worth $221M, with Other business services ($134M), Transportation ($63.5M), and Computer and information services ($15.5M) being the largest in terms of value.

Denmark-Russia Trade: In 2023, Denmark exported $86.7M to Russia. The main products that Denmark exported to Russia were Leather Footwear ($10.7M), Medical Instruments ($5.82M), and Malt Extract ($5.71M). Over the past 5 years the exports of Denmark to Russia have decreased at an annualized rate of 42.6%, from $1.39B in 2018 to $86.7M in 2023.

In 2020, Denmark exported services to Russia worth $734M, with Transportation ($577M), Other business services ($53.7M), and Construction services ($42.5M) being the largest in terms of value.

Comparison: In 2023, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B). That same year, Denmark ranked 22 in the Economic Complexity Index (ECI 1.13), and 37 in total exports ($118B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $342M and imported $79.3M from Denmark, resulting in a positive trade balance of $262M. Between January 2021 and January 2022 the exports of Russia have increased by $189M (124%) from $152M to $342M, while imports increased by $23.5M (42.2%) from $55.8M to $79.3M.

Trade In January 2022, the top exports of Russia to Denmark were Refined Petroleum ($67.8M), Commodities not elsewhere specified ($30.5M), Crude Petroleum ($15.8M), Soybean Meal ($9.86M), and Fuel Wood ($9.3M). In January 2022 the top imports of Russia from Denmark were Malt Extract ($3.86M), Electrical Control Boards ($2.83M), Rubberworking Machinery ($2.4M), Valves ($2.37M), and Enzymes ($2.26M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($219M), LIPETSK REGION ($26.5M), YAMAL-NENETS AUTONOMOUS AREA ($23M), IRKUTSK REGION ($20.4M), and VOLOGDA REGION ($10.7M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($32.9M), REPUBLIC OF KARELIA ($9.89M), NIZHNY NOVGOROD REGION ($9.35M), MOSCOW REGION ($7.07M), and ST. PETERSBURG ($4.92M).

Growth In January 2022, the increase in Russia's year-by-year exports to Denmark was explained primarily by an increase in product exports in Refined Petroleum ($52.9M or 356%), Soybean Meal ($7.54M or 324%), and Fuel Wood ($2.45M or 35.8%). In January 2022, the increase in Russia's year-by-year imports from Denmark was explained primarily by an increase in product imports in Rubberworking Machinery ($2.38M or 9.72k%), Malt Extract ($2.13M or 123%), and Electrical Control Boards ($1.49M or 112%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$189M(124%)

IMPORT GROWTH (January 2021 - January 2022)$23.5M(42.2%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$219M

This section shows exports and imports data at subnational level for Russia. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Russia over time.

To check Denmark and Russia trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Russia exported $347M to Denmark. The main products exported from Russia to Denmark were Semi-Finished Iron ($286M), Non-fillet Frozen Fish ($20.8M), and Other Vegetable Residues ($12.1M). During the last 5 years the exports of Russia to Denmark have decreased at an annualized rate of 30.9%, from $2.21B in 2018 to $347M in 2023.

In 2018, Denmark exported $86.7M to Russia. The main products exported from Denmark to Russia were Leather Footwear ($10.7M), Medical Instruments ($5.82M), and Malt Extract ($5.71M). During the last 5 years the exports of Denmark to Russia have decreased at an annualized rate of 42.6%, from $1.39B in 2023 to $86.7M in 2018.

Exports from Russia () to Denmark () (2023)

Exports from Denmark () to Russia () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$129B

Denmark
Top DestinationGermany$14.8B

This map shows whether countries import more from Russia or Denmark. Each country is colored based on the difference in imports they receive from Russia and Denmark or the difference in the growth in imports.

In 2023, countries that imported more from Russia than Denmark included China ($129B), India ($66.1B), and Turkey ($31B).

In 2023, countries that imported more from Denmark than Russia included Sweden ($11.2B), Germany ($14.8B), and United States ($12B).

Difference in imports from Denmark () and Russia () (2023)

Comparative Advantage Russia - Denmark

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Russia and Denmark by product, considering products traded by both, Russia and Denmark.

During 2023, Russia had a large net trade with Denmark in the exports of Metals ($292M), Animal Products ($27.1M), and Foodstuffs ($22.1M).

During 2018, Denmark had a large net trade with Russia in the exports of Machines ($18.3M), Footwear and Headwear ($14.2M), and Chemical Products ($13.4M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Denmark+$106MCrude Petroleum

Top Product Potential Denmark Russia+$19.1MVaccines, blood, antisera, toxins and cultures

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Dnk Year

Rus Year

In 2020, Denmark exported services to Russia worth $734M, with Transportation ($577M), Other business services ($53.7M), and Construction services ($42.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Denmark () (2020)

Services Exports from Denmark () to Russia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Russia and Denmark. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Denmark. Similarly, a dot/product with the flag of Denmark indicates it has a comparative advantage over Russia.

Product Space of Russia () and Denmark () (2023)

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