Denmark

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Denmark - In Short.

Overview of Denmark

Once the seat of Viking raiders and later a major north European power, Denmark has evolved into a modern, prosperous nation that is participating in the general political and economic integration of Europe. It joined NATO in 1949 and the EEC (now the EU) in 1973. However, the country has opted out of certain elements of the EU’s Maastricht Treaty, including the European Economic and Monetary Union, European defense cooperation, and issues concerning certain justice and home affairs.
Value
Country Full Name
Denmark
Country Code
DNK
Region
Europe & Central Asia
Income Group
High income
Currency Unit
GDP
3.56E+11
Population
5831404
Land Area
40000
Net National Income Per Capita
52682.05682
GDP per Capita (PPP)
60229.91477

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Denmark - Economic

Economy of Denmark

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 2.1% in 2017. The expansion is expected to decline slightly in 2018. Unemployment stood at 5.5% in 2017, based on the national labor survey. 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. Since 2014 the balance has shifted between surplus and deficit. In 2017 there was a surplus of 1.0%. The government projects a lower deficit in 2018 and 2019 of 0.7%, and public debt (EMU debt) as a share of GDP is expected to decline to 35.6% in 2018 and 34.8% in 2019. The Danish Government plans to address increasing municipal, public housing and integration spending in 2018.

Unemployment Rate

Inflation Rate

Denmark - GDP Composition

GDP Composiiton & Value Added of Denmark

Last Updated: Jan, 2021, Updated For 2020.

Denmark - GDP, Value Added

Demographics of Denmark

with excellent access to the North Sea, Skagerrak, Kattegat, and the Baltic Sea, population centers tend to be along coastal areas, particularly in Copenhagen and the eastern side of the country’s mainland
Geographic Location

Northern Europe, bordering the Baltic Sea and the North Sea, on a peninsula north of Germany (Jutland); also includes several major islands (Sjaelland, Fyn, and Bornholm)

Races

Danish (includes Greenlandic (who are predominantly Inuit) and Faroese) 86.3%, Turkish 1.1%, other 12.6% (largest groups are Polish, Syrian, German, Iraqi, and Romanian) (2018 est.)note: data represent population by ancestry

Languages

Danish, Faroese, Greenlandic (an Inuit dialect), German (small minority); note - English is the predominant second languagemajor-language

Religion

Evangelical Lutheran (official) 74.7%, Muslim 5.5%, other/none/unspecified (denominations of less than 1% each in descending order of size include Roman Catholic, Jehovah's Witness, Serbian Orthodox Christian, Jewish, Baptist, Buddhist, Church of Jesus Christ, Pentecostal, and nondenominational Christian) 19.8% (2019 est.)

Dependency & Expectancy of Denmark

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

Politics & Policies of Denmark

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ADB (nonregional member), AfDB (nonregional member), Arctic Council, Australia Group, BIS, CBSS, CD, CE, CERN, EAPC, EBRD, ECB, EIB, EITI (implementing country), ESA, EU, FAO, FATF, G-9, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IGAD (partners), IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINUSMA, NATO, NC, NEA, NIB, NSG, OAS (observer), OECD, OPCW, OSCE, Paris Club, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNMIL, UNMISS, UNRWA, UNTSO, UPU, WCO, WHO, WIPO, WMO, WTO, ZC

Import of Denmark

Export of Denmark

Import Destination

Export Destination