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; tight labor market addressed by migrant workers and higher average retirement age
. Key agricultural products in this country include: milk, wheat, barley, potatoes, sugar beets, pork, rapeseed, rye, oats, chicken (2022).More about the economy of Denmark
| Labor force | 3.18 million (2023 est.) |
|---|---|
| Industrial production growth rate | 7.92% (2023 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 | 30.56% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Danish kroner (DKK) per US dollar - |
| 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.) |
| Exchange rates 2019 | 6.669 (2019 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $109.371 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $96.073 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $82.236 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $44.195 billion (2023 est.) |
| Current account balance 2022 | $53.067 billion (2022 est.) |
| Current account balance 2021 | $36.94 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 35.3% of GDP (2017 est.) |
| Budget | |
| Revenues | $145.764 billion (2022 est.) |
| Expenditures | $130.785 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.35% of GDP (2023 est.) |
| Remittances 2022 | 0.31% of GDP (2022 est.) |
| Remittances 2021 | 0.35% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.7% (2021 est.) |
| Highest 10% | 23.8% (2021 est.) |
| Average household expenditures | |
| On food | 11.7% of household expenditures (2022 est.) |
| On alcohol and tobacco | 4% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $240.269 billion (2023 est.) |
| Imports 2022 | $235.68 billion (2022 est.) |
| Imports 2021 | $210.716 billion (2021 est.) |
| Imports (partners) | Germany 20%, Sweden 12%, China 9%, Netherlands 8%, Norway 5% (2022) |
| Comodities Imports force | garments, cars, refined petroleum, electricity, packaged medicine (2022) |
| Exports | |
| Imports 2023 | $240.269 billion (2023 est.) |
| Imports 2022 | $235.68 billion (2022 est.) |
| Imports 2021 | $210.716 billion (2021 est.) |
| Exports (partners) | Germany 15%, US 11%, Sweden 10%, Netherlands 6%, Norway 5% (2022) |
| Comodities Exports force | packaged medicine, garments, fish, electricity, refined petroleum (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $428.385 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $420.44 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $409.262 billion (2021 est.) |
| GDP (official exchange rate) | $404.199 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $72,000 (2023 est.) |
| Real GDP per capita 2022 | $71,200 (2022 est.) |
| Real GDP per capita 2021 | $69,900 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 1% (2023 est.) |
| Industry | 21.5% (2023 est.) |
| Services | 66.1% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 45.8% (2023 est.) |
| Government consumption | 22.6% (2023 est.) |
| Investment in fixed capital | 21.8% (2023 est.) |
| Investment in inventories | 0.2% (2023 est.) |
| Exports of goods and services | 69% (2023 est.) |
| Imports of goods and services | -59.4% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 5.14% (2023 est.) |
| Unemployment rate 2022 | 4.43% (2022 est.) |
| Unemployment rate 2021 | 5.04% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 11.7% (2023 est.) |
| Male | 12% (2023 est.) |
| Female | 11.3% (2023 est.) |
All Important Facts about Denmark
Want to know more about Denmark? Check all different factbooks for Denmark below.
