Overview: The highly diversified economy is heavily dependent on foreign trade (including services), which accounts for 40% of GDP. Over the past 30 years manufacturing has gradually replaced agriculture as the most important sector. In 1987 about 60% of total exports came from manufactured products compared to 30% from agriculture.

GDP: $101.3 billion, per capita $19,780; real growth rate - 1.1% (1987)

Inflation rate (consumer prices): 4.0% (1987)

Unemployment rate: 8.9% (1988)

Budget: revenues $34 billion; expenditures $34 billion, including capital expenditures of $19 billion (1988)

Exports: $25.6 billion (f.o.b., 1987); @m5commodities--meat and meat products, dairy products, transport equipment, fish, chemicals, industrial machinery; @m5partners--US 6.9%, FRG, Norway, Sweden, UK, other EC, Japan

Imports: $25.5 billion (c.i.f., 1987); @m5commodities--petroleum, machinery and equipment, chemicals, grain and foodstuffs, textiles, paper; @m5partners--US 5.3%, FRG, Netherlands, Sweden, UK, other EC

External debt: $19.0 billion (December 1988 est.)

Industrial production: growth rate - 2.4% (1987)

Electricity: 11,123,000 kW capacity; 30,011 million kWh produced, 5,860 kWh per capita (1988)

Industries: food processing, machinery and equipment, textiles and clothing, chemical products, electronics, construction, furniture, and other wood products

Agriculture: highly intensive, specializes in dairying and animal husbandry; main crops--cereals, root crops; food imports--oilseed, grain, animal feedstuffs

Aid: donor--ODA and OOF commitments (1970-86) $4.4 billion

Currency: Danish krone (plural--kroner); 1 Danish krone (DKr) = 100 ore

Exchange rates: Danish kroner (DKr) per US$1--7.085 (January 1989), 6.732 (1988), 6.840 (1987), 8.091 (1986), 10.596 (1985)

Fiscal year: calendar year

NOTE: The information regarding Denmark on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Denmark Economy 1989 information contained here. All suggestions for corrections of any errors about Denmark Economy 1989 should be addressed to the CIA.