New export markets
New global markets offer considerable unexploited export potential. Help businesses to move beyond European borders and enjoy success on new markets in growth countries and cities.
As an export consultant, you are in a position to help Danish businesses based on your expertise within well-known, new, small and large markets. Danish businesses primarily trade with customers in neighbouring countries but, with an export consultant on board with the right network and export acumen, they can take their products overseas.
According to the book ‘How the Explosion of Capitalism Abroad Will Change Business Everywhere’ published by the Harvard Business Review Press, the global economy will see dramatic changes within the next 30 years. Today, western economies account for 75 per cent of global GDP – in 2050 this figure will be just 32 per cent. Thus, there is considerable potential in taking a more global approach to SMEs’ export strategies.
According to the Danish Trade Council, world affluence has also shifted. New markets such as Turkey, Indonesia and Mexico are lands of opportunity for Danish SMEs:
- Growth and market opportunities
- The new markets are the so-called BRICS countries, to which an increasing number of Danish businesses are exporting:
- South Africa
According to the Danish Trade Council, it would also be beneficial for businesses to draw up a strategy in relation to ‘Next 11’, which are countries showing signs of growth. These countries are:
- South Korea
Denmark’s key export markets
Many Danish businesses are cautious in relation to exports. Seventy-five per cent of Danish trade is with other EU countries, by far the majority with our neighbouring countries. The following is a list of Denmark’s top ten export markets:
Metropolises as export markets
Markets can be restricted to a single growth metropolis. According to the Danish Trade Council, there are 440 growth cities worldwide. Most of these are found in China and India, but the following count among the largest growth cities elsewhere: São Paulo, Moscow, Mexico City, Istanbul, Lagos and Dhaka. In Europe, London, Munich and Stockholm are worth mentioning.
A general rule of thumb is that all cities with a population of more than 1 million people represent a good market for Danish businesses.
Up-to-date market information
In the report ‘Winning the $30 Billion Dollar Decathlon – Going for Gold in Emerging Markets’, McKinsey & Company describes 'The Emerging 440' - 440 large cities which will see huge growth in future.
The Trade Council regularly prepares detailed export market analyses. Look for analyses of specific markets and sectors here (analyses only available in Danish)