Denmark - Current Account Balance





Denmark: Current Account Balance

Mnemonic TAB.IDNK
Unit Mil. DKK, NSA
Adjustments Not Seasonally Adjusted
Monthly 31.25 %
Data May 2022 30,344
Apr 2022 23,118

Series Information

Source Statistics Denmark
Release Balance of Payments
Frequency Monthly
Start Date 1/31/2005
End Date 5/31/2022

Denmark: Trade

Reference Last Previous Units Frequency
Balance of Goods May 2022 -1,537 -3,165 Mil. DKK, SA Monthly
Current Account Balance May 2022 30,344 23,118 Mil. DKK, NSA Monthly
Exports of Goods May 2022 75,814 72,619 Mil. DKK, SA Monthly
Imports of Goods May 2022 77,351 75,785 Mil. DKK, SA Monthly
Exports of Goods and Services 2022 Q1 422.53 415.26 Bil. DKK, SA Quarterly
Imports of Goods and Services 2022 Q1 366.4 365.98 Bil. DKK, SA Quarterly
Real Exports of Goods and Services 2022 Q1 322.77 332.89 Bil. Ch. 2010 DKK, SA Quarterly
Real Imports of Goods and Services 2022 Q1 294.24 302.2 Bil. Ch. 2010 DKK, SA Quarterly

Release Information

The balance of payments describes the economic movements between Denmark and the rest of the world. The balance of payments for Denmark has been compiled since 1934. The BOP  is compiled in cooperation between Danmarks Nationalbank and Statistics Denmark. Statistics Denmark is responsible for publishing the consolidated statistics.

The balance of payments statistics is used in the compilation of the national accounts. It records the value of the economic transactions which are made within a given period between the Danish balance of payments area and the rest of the world. Until September 2000 the account also covered the Faroe Islands and Greenland, but since then it has only covered Denmark.

Active:

  • Framework: IMF BPM6
  • Measurement: Millions of Danish kroner (Mil. DKK)
  • Adjustments:
    • Seasonally adjusted (SA)
    • Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start dates:
    • 2005m1 for NSA
    • 2010m1 for SA

Predecessor(s):

  • BPM5 - 2004m10 to 2014m7 ("_B5")
  • BPM5 using settlement method - 1997m1 to 2004m12 ("04")

 

The BOP can be divided into three main accounts: the current account showing income and expenditure, the capital account and the financial account showing how a deficit/surplus on current account is financed/spent or transactions within these two accounts. The following main items are entered under current account: goods, services, income, and current transfers.

The most frequently used statistical measure is the current account balance also just sometimes referred to as the balance of payments surplus or deficit.

Timeliness

The BOP statistics data are published quarterly, 70 days after the end of the reference period. The main balances are published monthly, approximately 40 days after the end of the particular month.

Changes in method

Actual balance of payments statements have been prepared since 1934. From 1949 the statements have been adapted to the form used by the IMF with the limitations imposed by the primary statistical material. Up to 1997 there are very long series for the main items without any noticeable breaks.

In 1998, the compilation was adapted to the IMF balance of payments manual from 1993 (the fifth manual). Back data to 1988 for the most important items are available.

In 2014, the compilation was adapted to the IMF balance of payments manual from 2009 (the sixth manual). Back data to 2005 are available.

Sources

According to Statistics Denmark, the statistics are prepared on a basis of the foreign trade statistics, cf. External trade in goods and International trade in services, and furthermore financial statistics of Danmarks Nationalbank (the Danish central bank) and information from public authorities, cf. General Government Finances. Supplementary information from other statistics is used. Some of the sources are used as they stand while others are used as indicators of development.

The settlements statistics of Danmarks Nationalbank have for many years been an all-important source for the balance of payments statistics. The collection of informations for the settlements statistics ceased by new year 2004/05.

Publications

The balance of payments current acount is published in News from Statistics Denmark, National Accounts and Balance of Payments (Statistical News) ("Nationalregnskab og betalingsbalance"). The balance of payments financial account is published in Financial Statistics ("Finansiel Statistik, Tabeltillæg") from Danmarks Nationalbank.

At www.statistikbanken.dk the current account is published in BB1 (monthly figures, net), in BB2 (quarterly figures), and in BB3 (annual figures). The financial account is published in DNBOPF and in other tables (monthly figures, gross and net). The international investment position is published in DNKAP and in other tables. All tables are to be found under the heading National accounts and balance of payments.

Statistical Yearbook (annual)

Statistical 10-year Review (annual)

Data revision - policy

Statistics Denmark revises published figures in accordance with the Revision Policy for Statistics Denmark. The common procedures and principles of the Revision Policy are for some statistics supplemented by a specific revision practice.

Data revision practice

After the first publication of the balance of payments, it is continuously adjusted, as supplementary or adjusted statistical material appears.

Property income from direct investment is projected on the basis of an aggregated estimate for the profit of the enterprise, as well as current information on distributed dividend. Data are not reported until up to 22 months after the end of the reference period. Data are published in October the year after the end of the reference period. Until then monthly data are based on estimated figures and therefore subject to more uncertainty than reported figures.

According to practice the data of the months of the previous year are locked by late September. Simultaneously the data of the preceding year are revised and locked again. The data of the latter year are revised again internally around January for being included in the final National Account compilations. These data are thus declared final the following September.

Further reading

At the source:

At IMF (SDDS Plus):