The National Bank of Denmark published updated direct investment statistics showing that the stock of Danish direct investments abroad reached a record DKK 1,910 billion at end-2024, continuing a two-decade upward trend. Foreign direct investments in Denmark stood at DKK 1,081 billion, broadly unchanged from the prior two years, leaving Denmark’s outward position DKK 829 billion larger than inward investments. By country, the United States was the largest destination for Danish outward direct investment at DKK 440 billion, after a DKK 131 billion increase in 2024, described as the largest annual percentage rise in the past twenty years and partly linked to Novo Nordisk’s acquisition of Catalent (total purchase value DKK 119 billion via Novo Holdings). EU countries collectively remained the largest region for outward investment at DKK 758 billion (40% of the total) and were broadly stable over the year, while DSV’s acquisition of Germany’s DB Schenker is not reflected as final approval occurred in 2025. Outward positions were concentrated, with Novo Nordisk, A. P. Møller – Mærsk, Ørsted, DSV and Carlsberg together accounting for nearly 30% of the total. On inward investment, the release highlights the role of transit countries (including Luxembourg, the Netherlands and Ireland) and reports that, on an ultimate investor basis, the United States was the largest investor in Denmark at DKK 193 billion (18%).
National Bank of Denmark 2025-10-07
National Bank of Denmark reports record DKK 1,910bn stock of Danish direct investment abroad at end-2024
The National Bank of Denmark reported Danish direct investments abroad hit a record DKK 1,910 billion at the end of 2024, with the United States as the largest destination. Foreign direct investments in Denmark remained stable at DKK 1,081 billion, with the U.S. also the largest ultimate investor at DKK 193 billion. Key contributors to outward investments included Novo Nordisk, A. P. Møller – Mærsk, Ørsted, DSV, and Carlsberg, accounting for nearly 30% of the total.