| Economy | Denmark |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Unemployment is low and capacity constraints limit growth potential. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but so far Denmark has decided not to join 15 other EU members in the euro. Nonetheless, the Danish krone remains pegged to the euro. Denmark's fiscal position is among the strongest in the EU. Economic growth gained momentum in 2004 and the upturn continued through 2006. After a long consumption-driven upswing, Denmark's economy began slowing in early 2007 with the end of a housing boom. This cyclical slowdown has been exacerbated by the global financial crisis through increased borrowing costs and lower export demand, consumer confidence, and investment. The slowing global economy cut growth to 0.3% in 2008. Because of high GDP per capita, welfare benefits, a low Gini index, and political stability, the Danish living standards are among the highest in the world. A major long-term issue will be the sharp decline in the ratio of workers to retirees. |
GDP (purchasing power parity):
|
$204.9 billion (2008 est.)
$206.2 billion (2007)
$202.9 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$37,400 (2008 est.)
$37,700 (2007 est.)
$37,200 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$369.6 billion (2008 est.) |
GDP - real growth rate:
|
-0.6% (2008 est.)
1.6% (2007 est.)
3.3% (2006 est.) |
GDP - composition by sector:
|
agriculture: 1.4%
industry: 25.9%
services: 72.7% (2008 est.) |
Investment (gross fixed):
|
22.4% of GDP (2008 est.) |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: 2%
highest 10%: 24% (2000 est.) |
Distribution of family income - Gini index:
|
24 (2005) |
Inflation rate (consumer prices):
|
3.5% (2008 est.) |
Central bank discount rate:
|
4% (31 December 2007) |
Commercial bank prime lending rate:
|
NA |
Stock of money:
|
$148.7 billion (31 December 2007) |
Stock of money - per capita:
|
27,034 USD per capita |
Stock of quasi money:
|
$81.64 billion (31 December 2007) |
Stock of quasi money - per capita:
|
14,843 USD per capita |
Stock of domestic credit:
|
$684.7 billion (31 December 2007) |
Stock of domestic credit - per capita:
|
124,480 USD per capita |
Labor force:
|
2.86 million (2008 est.) |
Labor force participation rate:
|
52.00 % of population |
Labor force - by occupation:
|
agriculture: 2.9%
industry: 23.8%
services: 72.7% (2005 est.) |
Unemployment rate:
|
2% (2008 est.) |
Budget:
|
revenues: $192 billion
expenditures: $177.6 billion (2008 est.) |
Budget revenues per capita:
|
34,906 USD per capita |
Public debt:
|
21.8% of GDP (2008 est.) |
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:
|
0.4% (2008 est.) |
Electricity - production:
|
36.99 billion kWh (2007 est.) |
Electricity - production per capita:
|
6,725 kWh per capita |
Electricity - consumption:
|
34.68 billion kWh (2006 est.) |
Electricity - consumption - per capita:
|
6,305 kWh per capita |
Electricity - exports:
|
11.38 billion kWh (2007 est.) |
Electricity - imports:
|
10.43 billion kWh (2007 est.) |
Oil - production:
|
313,800 bbl/day (2007 est.) |
Oil - production per capita:
|
57,050 bbl/day per capita |
Oil - consumption:
|
190,600 bbl/day (2007 est.) |
Oil - consumption - per capita:
|
12.65 bbl/year per capita |
Oil - exports:
|
320,000 bbl/day (2006) |
Oil - imports:
|
164,000 bbl/day (2006 est.) |
Oil - proved reserves:
|
1.188 billion bbl (1 January 2008 est.) |
Natural gas - production:
|
9.223 billion cu m (2007 est.) |
Natural gas - production per capita:
|
1,677 cu m per capita |
Natural gas - consumption:
|
4.555 billion cu m (2007 est.) |
Natural gas - consumption - per capita:
|
829 cu m per capita |
Natural gas - exports:
|
4.517 billion cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
70.51 billion cu m (1 January 2008 est.) |
Agriculture - products:
|
barley, wheat, potatoes, sugar beets; pork, dairy products; fish |
Current account balance:
|
$4.333 billion (2008 est.) |
Current account balance - per capita:
|
788 USD per capita |
Exports:
|
$119.5 billion f.o.b. (2008 est.) |
Exports per capita:
|
21,726 USD per capita |
Exports - commodities:
|
machinery and instruments, meat and meat products, dairy products, fish, pharmaceuticals, furniture, windmills |
Exports - partners:
|
Germany 17.4%, Sweden 14.5%, UK 8%, US 6.1%, Norway 5.7%, France 4.8%, Netherlands 4.8% (2007) |
Imports:
|
$120.7 billion f.o.b. (2008 est.) |
Imports per capita:
|
21,944 USD per capita |
Imports - commodities:
|
machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods |
Imports - partners:
|
Germany 21.6%, Sweden 14.4%, Netherlands 7.1%, Norway 6%, China 5.4%, UK 5.3%, Italy 4.1%, France 4% (2007) |
Reserves of foreign exchange and gold:
|
$34.32 billion (2006 est.) |
Reserves of foreign exchange and gold - per capita:
|
6,240 USD per capita |
Debt - external:
|
$492.6 billion (30 June 2007) |
Debt - external - per capita:
|
89,556 USD per capita |
Stock of direct foreign investment - at home:
|
$133.6 billion (2008 est.) |
Stock of direct foreign investment - at home - per capita:
|
24,289 USD per capita |
Stock of direct foreign investment - abroad:
|
$163.2 billion (2008 est.) |
Stock of direct foreign investment - abroad - per capita:
|
29,670 USD per capita |
Market value of publicly traded shares:
|
$277.7 billion (31 December 2007) |
Market value of publicly traded shares - per capita:
|
50,487 USD per capita |
Economic aid - donor:
|
ODA, $2.236 billion (2006) |
Economic aid - recipient:
|
void |
Economic aid - recipient per capita:
|
void |
Currency (code):
|
Danish krone (DKK) |
Exchange rates:
|
Danish kroner (DKK) per US dollar - 5.0236 (2008 est.), 5.4797 (2007), 5.9468 (2006), 5.9969 (2005), 5.9911 (2004) |
Fiscal year:
|
calendar year |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
