Denmark Economy: from the All Country Info reference guide to country facts

Denmark Economy

Denmark Economy: A summary of information about Denmark Economy, from government research data as well as independent research and other sources.

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Denmark: Economy

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,
and high dependence on foreign trade. Denmark is a net exporter of
food. The center-left coalition government is concentrating on
reducing the unemployment rate and the budget deficit as well as
following the previous government's policies of maintaining low
inflation and a current account surplus. The coalition also vows to
maintain a stable currency. The coalition has lowered marginal income
tax rates while maintaining overall tax revenues; boosted industrial
competitiveness through labor market and tax reforms; increased
research and development funds; and improved welfare services for the
neediest while cutting paperwork and delays. Denmark chose not to join
the 11 other EU members who launched the euro on 1 January 1999.
GDP
purchasing power parity - $127.7 billion (1999 est.)
GDP - real growth rate
1.3% (1999 est.)
GDP - per capita
purchasing power parity - $23,800 (1999 est.)
GDP - composition by sector
agriculture: 4%
industry: 27%
services: 69% (1997)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: 3.6%
highest 10%: 20.5% (1992)
Inflation rate (consumer prices)
2.5% (1999 est.)
Labor force
2.896 million
Labor force - by occupation
services 71%, industry 25%, agriculture
4% (1997 est.)
Unemployment rate
5.7% (1999 est.)
Budget
revenues: $59.7 billion
expenditures: $57.6 billion, including capital expenditures of $NA
(1997 est.)
Industries
food processing, machinery and equipment, textiles and
clothing, chemical products, electronics, construction, furniture, and
other wood products, shipbuilding
Industrial production growth rate
1.5% (1999 est.)
Electricity - production
40.277 billion kWh (1998)
Electricity - production by source
fossil fuel: 90.8%
hydro: 0.07%
nuclear: 0%
other: 9.13% (1998)
Electricity - consumption
33.037 billion kWh (1998)
Electricity - exports
7.1 billion kWh (1998)
Electricity - imports
2.68 billion kWh (1998)
Agriculture - products
grain, potatoes, rape, sugar beets; beef,
dairy products; fish
Exports
$49.5 billion (f.o.b., 1999)
Exports - commodities
machinery and instruments, meat and meat
products, fuels, dairy products, ships, fish, chemicals
Exports - partners
EU 66.6% (Germany 21.4%, Sweden 11.2%, UK 9.2%,
France 5.3%, Netherlands 4.5%), Norway 6.0%, US 4.7% (1998)
Imports
$43.9 billion (f.o.b., 1999)
Imports - commodities
machinery and equipment, petroleum, chemicals,
grain and foodstuffs, textiles, paper
Imports - partners
EU 72.5% (Germany 22.5%, Sweden 12.9%, UK 7.9%,
France 5.9%), Norway 4.6%, US 4.1% (1998)
Debt - external
$44 billion (1996 est.)
Economic aid - donor
ODA, $1.6 billion (1997)
Currency
1 Danish krone (DKr) = 100 oere
Exchange rates
Danish kroner (DKr) per US$1 - 7.336 (January 2000),
6.976 (1999), 6.701 (1998), 6.604 (1997), 5.799 (1996), 5.602 (1995)
Fiscal year
calendar year
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