Includes Denmark real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Denmark economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Denmark best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary constitutional monarchy
Capital City: Copenhagen
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
National Bank of Denmark (Danmarks Nationalbank) |
---|---|
Currency |
Danish kroner (DKK) |
International Reserves |
USD 72.82 billion (2020) World Bank, last updated 12/16/2021 |
Gross Domestic Product – GDP |
USD 396.67 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (Purchasing Power Parity) |
USD 370.30 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
Real GDP growth |
2017 2% 2018 2.1% 2019 2.1% 2020* -2.1% 2021* 3.8% *Estimate |
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GDP per capita – current prices |
USD 67,919.59 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP per capita – PPP |
USD 63,404.86 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (PPP) – share of world total |
0.26% (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP – composition by sector |
agriculture: 1.3% industry: 21.2% services: 64.6% (2018 estimate) |
Gross domestic expenditure on R&D; (% of GDP) |
2.9% (2019) OECD, retrieved January 2022 |
Inflation |
2017 1.1% 2018 0.7% 2019 0.7% 2020* 0.3% 2021* 1.4% *Estimate |
Denmark
Inflation & Debt
Inflation |
2017 1.1% 2018 0.7% 2019 0.7% 2020* 0.3% 2021* 1.4% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: AAA Moody’s: Aaa Standard & Poor’s / Moody’s (January 2022) |
Unemployment rate |
2017 5.8% 2018 5.1% 2019 5% 2020* -5.6% 2021* 5.4% *Estimate |
Household saving rates |
5.8% (2020) |
Public debt (General government gross debt as a % of GDP) |
2017 35.9% 2018 34% 2019 33.6% 2020* 42.1% 2021* 38.8% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2017 1.7% 2019 0.4% 2019 3.8% 2020* -0.9% 2021* -2.2% *Estimate |
Market value of publicly traded shares | N/A |
Largest Companies |
Møller-Maersk, Novo Nordisk, Danske Bank, Vestas Wind Systems, Orsted, DSV Panalpina, Carlsberg, Coloplast, Genmab, Jyske Bank, Novozymes, TrygVesta Forbes Global 2000 (2021) |
Import/Export
Exports as percent of GDP (Exports of goods and services) | 5.7 % (2018 estimate) |
---|---|
Shares in world total merchandising export | 0.56% (2018) |
Shares in world total commercial services export |
1.20% (2018) |
Total exports | USD 191.6 billion (2018 estimate) |
Export commodities |
Wind turbines, pharmaceuticals, machinery and instruments, meat and meat products, dairy products, fish, furniture and design |
Total imports |
USD 173.6 billion (2018 estimate) |
Import commodities |
Machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods |
Exports – major partners |
Germany 15.5%, Sweden 11.6%, UK 8.2%, US 7.5%, Norway 6%, China 4.4%, Netherlands 4.4% (2017) |
Imports – major partners |
Germany 21.3%, Sweden 11.9%, Netherlands 7.8%, China 7.1%, Norway 6.3%, Poland 4% (2017) |
Competitiveness & Trade
Current account balance |
USD 20.1 billion (2018 estimate) |
---|---|
Current account balance by percentage of GDP |
6.6% (2017 estimate) |
FDI inflows |
2016 USD 38 million 2017 USD 3,447 million 2018 USD 1,789 million |
FDI Outflows |
2016 USD 9,881 million 2017 USD 8,896 million 2018 USD -3,690 million |
Value of cross-border M&A, by country of purchaser |
2015 USD 1,838 million 2016 USD 1,330 million 2017 USD 5,001 million 2018 USD 2,427 million |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 4 out of 190 countries Subcategories: Starting a Business: 45 out of 190 countries Dealing with Construction Permits: 4 out of 190 countries Getting Electricity: 21 out of 190 countries Registering Property: 11 out of 190 countries Getting Credit: 48 out of 190 countries Protecting Minority Investors: 28 out of 190 countries Paying Taxes: 8 out of 190 countries Trading across Borders: 1 out of 190 countries Enforcing Contracts: 14 out of 190 countries Resolving Insolvency: 6 out of 190 countries |
Global competitiveness ranking |
10 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 14 / Score: 76.7 (Mostly free) (100=totally free 0=totally repressed) |
Population & Geographic Data
Time Zone | UTC +1 |
---|---|
Total Area |
43,094 sq km |
Total Population |
1990 5.14 million 2000 5.33 million 2010 5.54 million 2015 5.66 million 2020 5.84 million *Estimate |
Urban population as % of total population |
1960 73.7% 1980 83.7% 2000 85.1% 2018 87.9% |
Population median age |
41.9 years |
Population growth rate |
0.59% (2018 estimate) |
Life expectancy |
81 years (2018 estimate) |
% of population living on less than $3.10 a day |
0.2% (last available estimate, 2015) |
Inequality of wealth distribution (Gini index) |
28.2 (last available estimate, 2015) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Free Political Rights: 1 Civil Liberties: 1 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 19.7% Mobile: 125.1% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
97.64 % (2018) |
Language & Religon
Languages |
Danish, Faroese, Greenlandic (an Inuit dialect), German (small minority) |
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Literacy | N/A |
Religions |
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, Mormon, Pentecosta |
World Rankings
Population | 5.84 M |
---|---|
Mercer Cost of living index |
Copenhagen: 20th (2019) |
C02 Emissions per capita |
5.94 metric tons per capita (2014) |
Global Finance Rankings & Awards: Denmark
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000