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Population |
5,468,120 (July 2007 est.) |
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GDP (purchasing power parity) |
$202.1 billion (2006 est.) |
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GDP - real growth rate |
3.5% (2006 est.) |
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GDP - per capita (PPP) |
$37,100 (Rank 15 - 2006 est.) |
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Labor force |
2.91 million (2006 est.) |
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Household income or consumption by % share |
lowest 10%: 2%
highest 10%: 24% (2000 est.) |
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source: CIA-WFB |
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Town Hall Square 16
Copenhagen 1550
denmark@econsults.org |
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Economy - overview:
The Danish economy has in recent years undergone strong expansion fueled primarily by private consumption growth, but also supported by exports and investments. 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 are limiting growth potential. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatization of state assets. 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 Denmark has decided not to join 12 other EU members in the euro. Nonetheless, the Danish krone remains pegged to the euro. Economic growth gained momentum in 2004 and the upturn continued through 2006. The controversy over caricatures of the Prophet Muhammad printed in a Danish newspaper in September 2005 led to boycotts of some Danish exports to the Muslim world, especially exports of dairy products, but the boycotts did not have a significant impact on the overall Danish economy. 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.
Leading Commercial Sectors
Telecommunication Services and Equipment
Computer Software and Information Technologies
Drugs and Pharmaceutical
Medical Equipment (including hearing aids)
Financial Services
Electrical Power Systems & Services
Oil and Gas Field Machinery
Travel and Tourism Services
Building Materials
General Consumer Goods
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