Economy - overview:
This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. The Danish economy is also characterized by extensive government welfare measures, an equitable distribution of income, and comfortable living standards. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises cut Danish GDP by 0.9% in 2008 and 4.7% in 2009. Historically low levels of unemployment rose sharply with the recession but remain below 5%, about half the level of the EU. Denmark made a modest recovery in 2010 in part because of increased government spending. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit during 2009-10. Nonetheless, Denmark's fiscal position remains among the strongest in the EU. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Denmark on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Denmark Economy 2011 information contained here. All suggestions for corrections of any errors about Denmark Economy 2011 should be addressed to the CIA.
$204.1 billion (2010 est.)
country comparison to the world: 52
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$304.6 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
1.8% (2010 est.)
country comparison to the world: 155
[see also: GDP - real growth rate country ranks ]
$37,000 (2010 est.)
country comparison to the world: 31
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 1.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
22.8%
[see also: GDP - composition by sector - industry country ranks ]
services:
76.1% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
2.82 million (2009 est.)
country comparison to the world: 105
[see also: Labor force country ranks ]
agriculture: 2.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
20.2%
[see also: Labor force - by occupation - industry country ranks ]
services:
77.3% (2005 est.)
[see also: Labor force - by occupation - services country ranks ]
4.2% (2010 est.)
country comparison to the world: 38
[see also: Unemployment rate country ranks ]
12.1% (2007)
[see also: Population below poverty line country ranks ]
lowest 10%: 1.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
28.7% (2007)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
29 (2007)
country comparison to the world: 118
[see also: Distribution of family income - Gini index country ranks ]
17.5% of GDP (2009 est.)
country comparison to the world: 114
[see also: Investment (gross fixed) country ranks ]
revenues: $160.3 billion
[see also: Budget - revenues country ranks ]
expenditures:
$175.9 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
46.6% of GDP (2010 est.)
country comparison to the world: 56
[see also: Public debt country ranks ]
2.2% (2010 est.)
country comparison to the world: 63
[see also: Inflation rate (consumer prices) country ranks ]
1% (31 December 2009)
country comparison to the world: 110
[see also: Central bank discount rate country ranks ]
NA% (31 December 2009 est.)
[see also: Commercial bank prime lending rate country ranks ]
$148.1 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$209 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$636.5 billion (31 December 2010 est.)
country comparison to the world: 22
[see also: Stock of domestic credit country ranks ]
$186.9 billion (31 December 2009)
country comparison to the world: 31
[see also: Market value of publicly traded shares country ranks ]
barley, wheat, potatoes, sugar beets; pork, dairy products; fish
iron, steel, nonferrous metals, chemicals, food processing, machinery and transportation equipment, textiles and clothing, electronics, construction, furniture and other wood products, shipbuilding and refurbishment, windmills, pharmaceuticals, medical equipment
4% (2009 est.)
country comparison to the world: 83
[see also: Industrial production growth rate country ranks ]
36.4 billion kWh (2008 est.)
country comparison to the world: 59
[see also: Electricity - production country ranks ]
34.3 billion kWh (2008 est.)
country comparison to the world: 56
[see also: Electricity - consumption country ranks ]
11.36 billion kWh (2008)
[see also: Electricity - exports country ranks ]
12.82 billion kWh (2008)
[see also: Electricity - imports country ranks ]
262,100 bbl/day (2009 est.)
country comparison to the world: 40
[see also: Oil - production country ranks ]
166,500 bbl/day (2009 est.)
country comparison to the world: 61
[see also: Oil - consumption country ranks ]
268,500 bbl/day (2008 est.)
country comparison to the world: 45
[see also: Oil - exports country ranks ]
173,100 bbl/day (2008 est.)
country comparison to the world: 51
[see also: Oil - imports country ranks ]
1.06 billion bbl (1 January 2010 est.)
country comparison to the world: 41
[see also: Oil - proved reserves country ranks ]
8.398 billion cu m (2009)
country comparison to the world: 43
[see also: Natural gas - production country ranks ]
4.41 billion cu m (2009)
country comparison to the world: 61
[see also: Natural gas - consumption country ranks ]
3.98 billion cu m (2009)
country comparison to the world: 29
[see also: Natural gas - exports country ranks ]
0 cu m (2008)
country comparison to the world: 91
[see also: Natural gas - imports country ranks ]
61.3 billion cu m (1 January 2010 est.)
country comparison to the world: 62
[see also: Natural gas - proved reserves country ranks ]
$14.35 billion (2010 est.)
country comparison to the world: 21
[see also: Current account balance country ranks ]
$99.37 billion (2010 est.)
country comparison to the world: 35
[see also: Exports country ranks ]
machinery and instruments, meat and meat products, dairy products, fish, pharmaceuticals, furniture, windmills
Germany 17.53%, Sweden 12.68%, UK 8.49%, US 6.05%, Norway 6.01%, Netherlands 4.84%, France 4.57% (2009)
$90.83 billion (2010 est.)
country comparison to the world: 33
[see also: Imports country ranks ]
machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods
Germany 21.07%, Sweden 13.18%, Norway 7%, Netherlands 6.97%, China 6.22%, UK 5.53% (2009)
$NA (31 December 2010 est.)
[see also: Reserves of foreign exchange and gold country ranks ]
$559.5 billion (30 June 2010)
country comparison to the world: 18
[see also: Debt - external country ranks ]
$149.6 billion (31 December 2010 est.)
country comparison to the world: 25
[see also: Stock of direct foreign investment - at home country ranks ]
$199.8 billion (31 December 2010 est.)
country comparison to the world: 19
[see also: Stock of direct foreign investment - abroad country ranks ]
Danish kroner (DKK) per US dollar - 5.774 (2010), 5.3609 (2009), 5.0236 (2008), 5.4797 (2007), 5.9468 (2006)
This page was last modified 09-Feb-11