Overview: This modern economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, and high dependence on foreign trade. The Danish economy is likely to maintain its slow but steady improvement in 1991. GDP grew by 1.3% in 1990 and probably will grow by about 1.25% in 1991; unemployment is running close to 10%. In 1990 Denmark had the lowest inflation rate in the EC, a record trade surplus, and the first balance-of-payments surplus in 26 years. As the government prepares for the economic integration of Europe during 1992, growth, investment, and competitiveness are expected to improve, reducing unemployment, inflation, and debt.

GDP: $78.0 billion, per capita $15,200; real growth rate 1.3% (1990)

Inflation rate (consumer prices): 2.7% (1990)

Unemployment rate: 9.5% (1990)

Budget: revenues $62.5 billion; expenditures $60 billion, including capital expenditures of $NA billion (1989)

Exports: $34.8 billion (f.o.b., 1990); commodities--meat and meat products, dairy products, transport equipment, fish, chemicals, industrial machinery; partners--EC 52.2% (Germany 19.5%, UK 10.9%, France 6.1%), Sweden 12.5%, Norway 5.8%, US 5.0%, Japan 4.3% (1990)

Imports: $31.6 billion (c.i.f., 1990); commodities--petroleum, machinery and equipment, chemicals, grain and foodstuffs, textiles, paper; partners--EC 57% (Germany 25.6%, UK 8.4%), Sweden 12.7%, US 6.7% (1990)

External debt: $45 billion (1990)

Industrial production: growth rate 2.1% (1989)

Electricity: 11,215,000 kW capacity; 30,910 million kWh produced, 6,030 kWh per capita (1989)

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

Agriculture: accounts for 5% of GNP and employs 6% of labor force (includes fishing and forestry); farm products account for nearly 15% of export revenues; principal products--meat, dairy, grain, potatoes, rape, sugar beets, fish; self-sufficient in food production

Economic aid: donor--ODA and OOF commitments (1970-89) $5.9 billion

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

Exchange rates: Danish kroner (DKr) per US$1--5.817 (January (1991), 6.189 (1990), 7.310 (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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Denmark Economy 1991 information contained here. All suggestions for corrections of any errors about Denmark Economy 1991 should be addressed to the CIA.