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Denmark Economy 2011
https://theodora.com/wfb2011/denmark/denmark_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 12, 2011

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):
$204.1 billion (2010 est.)
country comparison to the world: 52

$200.5 billion (2009 est.)
$210.4 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$304.6 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.8% (2010 est.)
country comparison to the world: 155

-4.7% (2009 est.)
-0.9% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$37,000 (2010 est.)
country comparison to the world: 31

$36,400 (2009 est.)
$38,400 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
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 ]

Labor force:
2.82 million (2009 est.)
country comparison to the world: 105
[see also: Labor force country ranks ]

Labor force - by occupation:
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 ]

Unemployment rate:
4.2% (2010 est.)
country comparison to the world: 38

4.3% (2009 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
12.1% (2007)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
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 ]

Distribution of family income - Gini index:
29 (2007)
country comparison to the world: 118

24.7 (1992)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
17.5% of GDP (2009 est.)
country comparison to the world: 114
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $160.3 billion
[see also: Budget - revenues country ranks ]
expenditures: $175.9 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
46.6% of GDP (2010 est.)
country comparison to the world: 56

41.5% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
2.2% (2010 est.)
country comparison to the world: 63

1.3% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1% (31 December 2009)
country comparison to the world: 110

3.5% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
NA% (31 December 2009 est.)

NA% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$148.1 billion (31 December 2010 est)

$153.1 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$209 billion (31 December 2010 est.)

$226.8 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$636.5 billion (31 December 2010 est.)
country comparison to the world: 22

$671.7 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$186.9 billion (31 December 2009)
country comparison to the world: 31

$131.5 billion (31 December 2008)
$277.7 billion (31 December 2007)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
barley, wheat, potatoes, sugar beets; pork, dairy products; fish

Industries:
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

Industrial production growth rate:
4% (2009 est.)
country comparison to the world: 83
[see also: Industrial production growth rate country ranks ]

Electricity - production:
36.4 billion kWh (2008 est.)
country comparison to the world: 59
[see also: Electricity - production country ranks ]

Electricity - consumption:
34.3 billion kWh (2008 est.)
country comparison to the world: 56
[see also: Electricity - consumption country ranks ]

Electricity - exports:
11.36 billion kWh (2008)
[see also: Electricity - exports country ranks ]

Electricity - imports:
12.82 billion kWh (2008)
[see also: Electricity - imports country ranks ]

Oil - production:
262,100 bbl/day (2009 est.)
country comparison to the world: 40
[see also: Oil - production country ranks ]

Oil - consumption:
166,500 bbl/day (2009 est.)
country comparison to the world: 61
[see also: Oil - consumption country ranks ]

Oil - exports:
268,500 bbl/day (2008 est.)
country comparison to the world: 45
[see also: Oil - exports country ranks ]

Oil - imports:
173,100 bbl/day (2008 est.)
country comparison to the world: 51
[see also: Oil - imports country ranks ]

Oil - proved reserves:
1.06 billion bbl (1 January 2010 est.)
country comparison to the world: 41
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
8.398 billion cu m (2009)
country comparison to the world: 43
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
4.41 billion cu m (2009)
country comparison to the world: 61
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
3.98 billion cu m (2009)
country comparison to the world: 29
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008)
country comparison to the world: 91
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
61.3 billion cu m (1 January 2010 est.)
country comparison to the world: 62
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$14.35 billion (2010 est.)
country comparison to the world: 21

$12.43 billion (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$99.37 billion (2010 est.)
country comparison to the world: 35

$91.51 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery and instruments, meat and meat products, dairy products, fish, pharmaceuticals, furniture, windmills

Exports - partners:
Germany 17.53%, Sweden 12.68%, UK 8.49%, US 6.05%, Norway 6.01%, Netherlands 4.84%, France 4.57% (2009)

Imports:
$90.83 billion (2010 est.)
country comparison to the world: 33

$84.46 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods

Imports - partners:
Germany 21.07%, Sweden 13.18%, Norway 7%, Netherlands 6.97%, China 6.22%, UK 5.53% (2009)

Reserves of foreign exchange and gold:
$NA (31 December 2010 est.)

$76.65 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$559.5 billion (30 June 2010)
country comparison to the world: 18

$588.8 billion (31 December 2008)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$149.6 billion (31 December 2010 est.)
country comparison to the world: 25

$144.6 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$199.8 billion (31 December 2010 est.)
country comparison to the world: 19

$186.6 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Danish kroner (DKK) per US dollar - 5.774 (2010), 5.3609 (2009), 5.0236 (2008), 5.4797 (2007), 5.9468 (2006)


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.



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