This report was created by the Royal Danish Consulate in Houston and the DACCSW. The aim of the study was to determine the level of trade between Texas and Denmark, and be the stepping stone for a more comprehensive report covering all of the American states. The purpose was to show investors the immense opportunities and current interest in Texas, thereby, hopefully inspiring further trade.
This research study has taken place over several months in 2012 and 2013 where various Danish, Texas and US official trade departments have been contacted. Furthermore, all of the Danish companies in Texas have been approached and asked to participate.
The results of this study show that there are 28 Danish majority-owned U.S. subsidiaries in Texas, and about 2,000 jobs have been created due to these businesses as well as exports to Denmark. The biggest import merchandise is electric machinery and the biggest export merchandise is chemicals. Denmark is the 30th largest Texas import market and Denmark is the 79th most important export destination for Texas companies.
Taking the Danish business activity in the US as a whole, this report found that Texas amounts to between 2% - 5% of the total in areas such as job creation, import and export, and Danish foreign direct investment.
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Jobs created by exports to Denmark and Danish companies in Texas and the US
Percentage of jobs in the US created by Danish interests in Texas
*Does not include jobs created by service exports (data not available)
Danish Foreign Direct Investment in Texas: Assets, 2012*: $332 Million
Danish FDI compared to the top 5 investors in Texas
Danish Foreign Direct Investment in Texas: Projects from 2003—2012:$235.2 Million
Percentage of total Danish FDI in the US invested in Texas
Danish Foreign Direct Investment in the US, 2011: $7.854 Billion
*Fixed Tangible Assets from 31% of Danish companies in Texas
Total Imports from Denmark to Texas, 2011: $757.35 Million
Top 5 most Imported Goods from Denmark to Texas in millions
Total Imports from Denmark to the US, 2010: $14.044 Billion
Percentage of Total Imports from Denmark to the US sold in Texas
Total Exports to Denmark from Texas, 2011: $162.98 Million
Top 5 most Exported Goods from Texas to Denmark in millions
Exports to Denmark from the US 2010: $8.173 Billion
Percentage of Total Exports from the US to Denmark originating in Texas