Texas and Denmark Trade Level

Executive Summary

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

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Total Imports from Denmark to the US, 2010: $14.044 Billion

Percentage of Total Imports from Denmark to the US sold in Texas

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

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Exports to Denmark from the US 2010: $8.173 Billion

Percentage of Total Exports from the US to Denmark originating in Texas

Danish companies in Texas

ALK-Abello
Blue Water Shipping
BoConcept
Clipper Group
Combi Lift
Damco
Dan Bunkering
DSV Air and Sea
Falck
Genan
Grundfos
Haldor Topsoe
Hempel
ISS Facility Services
Lego Systems
LM Wind Power
MacArtney
Maersk Line
Maersk Oil
Martin Bencher
Nordana Line
PANDORA
Safemarine
Scandic Food
Semco Maritime
Uni-Chartering
Welltec
Wrist

Texas companies in Denmark*

AT&T
Citco
Dell
National Instruments
Profiles International

*Out of 99 American companies in Denmark

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Methodology

Foreign Direct Investment:

Fixed tangible assets were used as a proxy for FDI. Fixed tangible assets include gross property, plants, and equipment. A Danish majority-owned US subsidiary is a US company in which a Danish company owns more than 50 percent of the shares.

Jobs generated:

The total employment generated in the U.S. by exports to Denmark has been calculated as follows: the export value of merchandise and service exports of the year 2011 is divided by the amount of dollars needed to create an additional merchandise ($160,200) or service job ($210,400). In July 2011, this estimation was published by the US Department of Commerce’s International Trade Ad- ministration in a report called “Projected Jobs Supported by Exports, 2009 and 2010.”