Economy - overview:
This thoroughly modern market economy features advanced industry with world-leading firms in pharmaceuticals, maritime shipping, and renewable energy, and a high-tech agricultural 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 long-term issue.Denmark’s small open economy is highly dependent on foreign trade, and the government strongly supports trade liberalization. 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.Denmark is a member of the EU but not the eurozone. 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.Denmark is experiencing a modest economic expansion. The economy grew by 2.0% in 2016 and an estimated 2.3% in 2017. The expansion is expected to decline slightly in 2018. Unemployment stood at 5.8% in 2017, based on the national measure. The labor market was tight in 2017, with corporations experiencing some difficulty finding appropriately-skilled workers to fill billets. The Danish Government offers extensive programs to train unemployed persons to work in sectors that need qualified workers.Denmark maintained a healthy budget surplus for many years up to 2008, but the global financial crisis swung the budget balance into deficit. The 2017 deficit was 0.6%. The government projects a lower deficit in 2018, and public debt (EMU debt) as a share of GDP is expected to decline. The Danish Government plans to address tax reform and increased defense spending in 2018.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$285.5 billion (2017 est.)
$280.1 billion (2016 est.)
$275.4 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 60
$324.1 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]
1.9% (2017 est.)
1.7% (2016 est.)
1.6% (2015 est.)
country comparison to the world: 159
[see also: GDP - real growth rate country ranks ]
$49,600 (2017 est.)
$49,100 (2016 est.)
$48,700 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 31
27.9% of GDP (2017 est.)
28.2% of GDP (2016 est.)
28.9% of GDP (2015 est.)
country comparison to the world: 38
[see also: Gross national saving country ranks ]
household consumption: 48%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 25.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.2%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 54.5%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -47.5% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 1.1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 23.7%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 75.2% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
barley, wheat, potatoes, sugar beets; pork, dairy products; fish
wind turbines, pharmaceuticals, medical equipment, shipbuilding and refurbishment, iron, steel, nonferrous metals, chemicals, food processing, machinery and transportation equipment, textiles and clothing, electronics, construction, furniture and other wood products
2% (2017 est.)
country comparison to the world: 139
[see also: Industrial production growth rate country ranks ]
2.998 million (2017 est.)
country comparison to the world: 104
[see also: Labor force country ranks ]
agriculture: 2.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 18.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 79.3% (2016 est.)
[see also: Labor force - by occupation - services country ranks ]
5.8% (2017 est.)
6.2% (2016 est.)
country comparison to the world: 80
[see also: Unemployment rate country ranks ]
13.4% (2011 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 1.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28.7% (2007)
28.8 (2015 est.)
25.7 (2005 est.)
country comparison to the world: 132
[see also: Distribution of family income - Gini index country ranks ]
revenues: $173.5 billion
[see also: Budget - revenues country ranks ]
expenditures: $175.5 billion (2017 est.)
[see also: Budget - expenditures country ranks ]
53.5% of GDP (2017 est.)
country comparison to the world: 11
[see also: Taxes and other revenues country ranks ]
-0.6% of GDP (2017 est.)
country comparison to the world: 51
[see also: Budget surplus (+) or deficit (-) country ranks ]
35.1% of GDP (2017 est.)
37.7% of GDP (2016 est.)
note: data cover general government debt, and includes 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 intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
country comparison to the world: 146
[see also: Public debt country ranks ]
calendar year
1% (2017 est.)
0.3% (2016 est.)
country comparison to the world: 43
[see also: Inflation rate (consumer prices) country ranks ]
0.05% (2016)
0.05% (2015)
country comparison to the world: 148
[see also: Central bank discount rate country ranks ]
2.9% (31 December 2017 est.)
3.25% (31 December 2016 est.)
country comparison to the world: 169
[see also: Commercial bank prime lending rate country ranks ]
$191.5 billion (31 December 2017 est.)
$159.3 billion (31 December 2016 est.)
country comparison to the world: 26
[see also: Stock of narrow money country ranks ]
$201.8 billion (31 December 2017 est.)
$173.4 billion (31 December 2016 est.)
country comparison to the world: 39
[see also: Stock of broad money country ranks ]
$739.9 billion (31 December 2017 est.)
$637.3 billion (31 December 2016 est.)
country comparison to the world: 21
[see also: Stock of domestic credit country ranks ]
$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: 32
[see also: Market value of publicly traded shares country ranks ]
$23.61 billion (2017 est.)
$24.09 billion (2016 est.)
country comparison to the world: 14
[see also: Current account balance country ranks ]
$113.2 billion (2017 est.)
$103.6 billion (2016 est.)
country comparison to the world: 35
[see also: Exports country ranks ]
wind turbines, pharmaceuticals, machinery and instruments, meat and meat products, dairy products, fish, furniture and design
Germany 16.3%, Sweden 11.9%, US 8.2%, UK 6.5%, Norway 6.1%, Netherlands 5.1%, China 4.4% (2016)
$94.61 billion (2017 est.)
$86.39 billion (2016 est.)
country comparison to the world: 35
[see also: Imports country ranks ]
machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods
Germany 21.4%, Sweden 12.2%, Netherlands 8%, China 7.3%, Norway 5.5%, UK 4.2% (2016)
$68.8 billion (31 December 2017 est.)
$64.25 billion (31 December 2016 est.)
country comparison to the world: 32
[see also: Reserves of foreign exchange and gold country ranks ]
$484.8 billion (31 March 2016 est.)
$519.8 billion (31 March 2015 est.)
country comparison to the world: 24
[see also: Debt - external country ranks ]
$145.9 billion (31 December 2017 est.)
$147.9 billion (31 December 2016 est.)
country comparison to the world: 37
[see also: Stock of direct foreign investment - at home country ranks ]
$248 billion (31 December 2017 est.)
$235.4 billion (31 December 2016 est.)
country comparison to the world: 24
[see also: Stock of direct foreign investment - abroad country ranks ]
Danish kroner (DKK) per US dollar -
6.586 (2017 est.)
6.7309 (2016 est.)
6.7309 (2015 est.)
6.7236 (2014 est.)
5.6125 (2013 est.)