Denmark - Economy
How is the economy of Denmark? Based on the information we have, Denmark has a
high-income, EU-member, trade-oriented Nordic economy; growth driven by pharmaceuticals, energy, and services; large share of employment in public sector; fixed exchange rate pegged to euro; strong fiscal position and declining public debt; tight labor market mitigated by migrant workers and higher retirement age
. Key agricultural products in this country include: milk, wheat, potatoes, barley, sugar beets, pork, rapeseed, rye, oats, chicken (2023).More about the economy of Denmark
| Labor force | 3.21 million (2024 est.) |
|---|---|
| Industrial production growth rate | 12% (2024 est.) |
| Industries | 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 |
| Population below poverty line | 12.4% (2021 est.) |
| Taxes and other revenues | 31.4% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Danish kroner (DKK) per US dollar - |
| Exchange rates 2024 | 6.894 (2024 est.) |
| Exchange rates 2023 | 6.89 (2023 est.) |
| Exchange rates 2022 | 7.076 (2022 est.) |
| Exchange rates 2021 | 6.287 (2021 est.) |
| Exchange rates 2020 | 6.542 (2020 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $108.405 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $109.371 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $96.073 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | $55.901 billion (2024 est.) |
| Current account balance 2023 | $40.061 billion (2023 est.) |
| Current account balance 2022 | $46.488 billion (2022 est.) |
| Public debt | |
| Public debt 2017 | 35.3% of GDP (2017 est.) |
| Budget | |
| Revenues | $149.393 billion (2023 est.) |
| Expenditures | $136.662 billion (2023 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 0.4% of GDP (2024 est.) |
| Remittances 2023 | 0.4% of GDP (2023 est.) |
| Remittances 2022 | 0.3% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 3.6% (2022 est.) |
| Highest 10% | 24.5% (2022 est.) |
| Average household expenditures | |
| On food | 11.9% of household expenditures (2023 est.) |
| On alcohol and tobacco | 3.5% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $252.954 billion (2024 est.) |
| Imports 2023 | $243.478 billion (2023 est.) |
| Imports 2022 | $245.07 billion (2022 est.) |
| Imports (partners) | Germany 18%, Sweden 11%, Norway 10%, Netherlands 9%, China 7% (2023) |
| Comodities Imports force | natural gas, cars, garments, packaged medicine, refined petroleum (2023) |
| Exports | |
| Imports 2024 | $252.954 billion (2024 est.) |
| Imports 2023 | $243.478 billion (2023 est.) |
| Imports 2022 | $245.07 billion (2022 est.) |
| Exports (partners) | Germany 13%, USA 10%, Sweden 9%, Netherlands 7%, China 5% (2023) |
| Comodities Exports force | packaged medicine, fish, vaccines, refined petroleum, pork (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $440.558 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $424.937 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $414.592 billion (2022 est.) |
| GDP (official exchange rate) | $429.457 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $73,700 (2024 est.) |
| Real GDP per capita 2023 | $71,500 (2023 est.) |
| Real GDP per capita 2022 | $70,200 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.7% (2024 est.) |
| Industry | 24% (2024 est.) |
| Services | 64% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 45.5% (2023 est.) |
| Government consumption | 22.5% (2023 est.) |
| Investment in fixed capital | 22.6% (2023 est.) |
| Investment in inventories | 0.2% (2023 est.) |
| Exports of goods and services | 68% (2023 est.) |
| Imports of goods and services | -59.8% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 5.6% (2024 est.) |
| Unemployment rate 2023 | 5.1% (2023 est.) |
| Unemployment rate 2022 | 4.5% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 12.1% (2024 est.) |
| Male | 12.3% (2024 est.) |
| Female | 11.9% (2024 est.) |
All Important Facts about Denmark
Want to know more about Denmark? Check all different factbooks for Denmark below.
