Economy - overview:
This thoroughly modern market economy features a high-tech agricultural sector, advanced industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a net exporter of food, oil, and gas and enjoys a comfortable balance of payments surplus, but depends on imports of raw materials for the manufacturing sector. Danes enjoy a high standard of living and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. An aging population will be a major long-term issue.Denmark is a member of the EU; Danish legislation and regulations conform to EU standards on almost all issues. Despite previously meeting the criteria to join the European Economic and Monetary Union, Denmark has negotiated an opt-out with the EU and is not required to adopt the euro. Within the EU, Denmark is among the strongest supporters of trade liberalization.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 but, with significant regional differences, have since recovered. Household indebtedness is still relatively high at more than 305% of net disposable income in 2014, while household net worth - from private pension schemes and other assets - amounted to 546% of net disposable income.The global financial crisis exacerbated this cyclical slowdown by increasing domestic borrowing costs and lowering foreign demand for Danish exports. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009. The structural budget deficit has remained below 1% and is estimated at -0.4% in 2016. Denmark is experiencing a lackluster economic recovery, having still not regained the GDP level of 2008. GDP contracted in 2012 and 2013, followed by real growth of 1.3% in 2014, and 1.2% in 2015. The government projects 1.9% growth in 2016, while private sector estimates are about 1% growth. A historically low level of unemployment rose with the economic downturn but the labor market has strengthened since 2013, and unemployment stood at about 4.5% in early 2016, based on the national measure. Productivity growth was significantly below the OECD average in 2012–2014.

GDP (purchasing power parity):
$264.8 billion (2016 est.) $262.2 billion (2015 est.) $259.6 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 61
[see also: GDP country ranks ]

GDP (official exchange rate):
$302.6 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1% (2016 est.) 1% (2015 est.) 1.3% (2014 est.)
country comparison to the world: 172
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$46,600 (2016 est.) $46,300 (2015 est.) $46,100 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 31
[see also: GDP - per capita country ranks ]

Gross national saving:
26.3% of GDP (2016 est.) 26.6% of GDP (2015 est.) 27.6% of GDP (2014 est.)
country comparison to the world: 42
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 47.5%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 25.6%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 18.9%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.3%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 50.8%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -43.1% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 23.4%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 75.5% (2016 est.)
[see also: GDP - composition, by sector of origin - services 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 eq

Industrial production growth rate:
0.8% (2016 est.)
country comparison to the world: 156
[see also: Industrial production growth rate country ranks ]

Labor force:
2.825 million (2016 est.)
country comparison to the world: 105
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2.6%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 77.1% (2011 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
4.2% (2016 est.) 4.6% (2015 est.)
country comparison to the world: 41
[see also: Unemployment rate country ranks ]

Population below poverty line:
13.4% (2011 est.)
[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:
24.8 (2011 est.) 24.7 (1992)
country comparison to the world: 143
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $156.9 billion
[see also: Budget revenues country ranks ]
expenditures: $164.5 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
51.8% of GDP (2016 est.)
country comparison to the world: 11
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.5% of GDP (2016 est.)
country comparison to the world: 82
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
39.6% of GDP (2016 est.) 40.2% of GDP (2015 est.)
note: data cover general government debt and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as int
country comparison to the world: 119
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.4% (2016 est.) 0.5% (2015 est.)
country comparison to the world: 47
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.75% (31 December 2011) 0.75% (31 December 2010)
country comparison to the world: 126
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
3.7% (31 December 2016 est.) 3.42% (31 December 2015 est.)
country comparison to the world: 158
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$148.1 billion (31 December 2016 est.) $151.9 billion (31 December 2015 est.)
country comparison to the world: 27
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$181.1 billion (31 December 2014 est.) $189.2 billion (31 December 2013 est.)
country comparison to the world: 43
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$619.8 billion (31 December 2016 est.) $632.9 billion (31 December 2015 est.)
country comparison to the world: 21
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$224.9 billion (31 December 2012 est.) $179.5 billion (31 December 2011 est.) $231.7 billion (31 December 2010 est.)
country comparison to the world: 31
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$20.34 billion (2016 est.) $20.75 billion (2015 est.)
country comparison to the world: 17
[see also: Current account balance country ranks ]

Exports:
$93.6 billion (2016 est.) $95.97 billion (2015 est.)
country comparison to the world: 35
[see also: Exports country ranks ]

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

Exports - partners:
Germany 17.8%, Sweden 11.6%, US 8.4%, Norway 6.3%, UK 6.3%, Netherlands 4.4%, China 4.2% (2015)

Imports:
$82.29 billion (2016 est.) $85.02 billion (2015 est.)
country comparison to the world: 37
[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 20.4%, Sweden 12.3%, Netherlands 8.1%, China 7.3%, Norway 6.1%, UK 4.4% (2015)

Reserves of foreign exchange and gold:
$61.8 billion (31 December 2016 est.) $65.19 billion (31 December 2015 est.)
country comparison to the world: 31
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$484.8 billion (31 March 2016 est.) $519.8 billion (31 March 2015 est.)
country comparison to the world: 25
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$135.1 billion (31 December 2016 est.) $133.3 billion (31 December 2015 est.)
country comparison to the world: 41
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$242.7 billion (31 December 2016 est.) $239.2 billion (31 December 2015 est.)
country comparison to the world: 24
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Danish kroner (DKK) per US dollar - 6.865 (2016 est.) 6.7236 (2015 est.) 6.7236 (2014 est.) 5.6125 (2013 est.) 5.79 (2012 est.)