Denmark’s balance of payments for 2009 was 64.2 billion kroner in the black – the highest in five years, according to Statistics Denmark.

Exports fell by 16 percent last year but imports dropped even further, by a full 21 percent. The strong balance of payments helped keep the Danish krone – which is pegged to the euro - strong on currency markets, with the most recent exchange rates showing the kroner worth 0.118 GB pounds and 0.184 US dollars.

Helge J. Pedersen, chief economist at Nordea Bank, said the numbers reflect a general cutback in consumer purchasing.