Economic overview Denmark, in 36 editions.

This modern economy features high-tech agriculture, up-to-date small-scale
small-scale and corporate industry, extensive government welfare
measures, comfortable
living standards, and high dependence on foreign
trade. Denmark's new
center-left coalition government will concentrate
on reducing the persistent
high unemployment rate and the budget
deficit as well as following the
previous government's policies of
maintaining low inflation and a current
account surplus. In the face
of recent international market pressure on the
Danish krone, the
coalition has also vowed to maintain a stable currency.
The coalition
hopes to lower marginal income taxes while maintaining overall
tax
revenues; boost industrial competitiveness through labor market and tax
tax reforms and increased research and development funds; and improve welfare
welfare services for the neediest while cutting paperwork and delays.
Prime Minister
RASMUSSEN's reforms will focus on adapting Denmark to EC's economic and
monetary union (EMU) the criteria for European integration by 1999, 1999; although Copenhagen has
won from the EC
European Union (EU) the right to opt out of the EMU European
Monetary Union (EMU) if a national referendum rejects it. Denmark
is,
in fact, one of the few EC EU countries likely to fit into the EMU on time.
time. Denmark is weathering the current worldwide slump better than
many West
European countries. As the EC's EU's single market (formally
established on 1
January 1993) gets underway, Danish economic growth
is expected to pickup to
around 2% in 1993. Expected 1994. Danish approval of the
Maastricht treaty on EC
EU political and economic union in May 1993 would almost certainly reverse the has
reversed the drop in investment, further boosting growth. The current
account surplus
remains strong as limitations on wage increases and
low inflation - expected
to be around 1% 2% in 1993 1994 - improve export
competitiveness. Although
unemployment is high, it remains stable
compared to most European countries.

This thoroughly modern economy features high-tech
agriculture, up-to-date
small-scale and corporate industry, extensive
government welfare
measures, comfortable living standards, and high
dependence on foreign
trade. Denmark's Denmark is self-sufficient in food
production. The new center-left coalition government will concentrate
on reducing the persistent high unemployment rate and the budget
deficit as well as following the previous government's policies of
maintaining low inflation and a current account surplus. In the face
of recent international market pressure on the Danish krone, the
coalition has also vowed to maintain a stable currency. The coalition
hopes to lower marginal income taxes while maintaining overall tax
revenues; boost industrial competitiveness through labor market and
tax reforms and increased research and development funds; and improve
welfare services for the neediest while cutting paperwork and delays.
Prime Minister RASMUSSEN's reforms will focus on adapting Denmark to
the criteria for European integration by 1999; although Copenhagen has
won from the European Union (EU) the right to opt out of the European
Monetary Union (EMU) if a national referendum rejects it. Denmark is,
in fact, one of the few EU countries likely to fit into the EMU on
time. Denmark is weathering the current worldwide slump better than
many West European countries. As the EU's single market (formally
established on 1 January 1993) gets underway, Danish economic After posting 4.5% real GDP growth in
1994, Copenhagen is expected to pickup to around 2% predicting a continued strong showing in 1994. Danish approval of the 1995,
Maastricht treaty on EU political and economic union with real GDP up by 3.2%. The government expects an upswing in May 1993 has
reversed the drop business investment in investment, further boosting growth. The current
account surplus remains strong as limitations on wage increases and
low inflation - expected 1995 to be around 2% in 1994 - improve export
competitiveness. drive economic growth. Although
unemployment is high, it remains stable
compared to most European
countries.

This thoroughly modern economy features high-tech
high-tech agriculture, up-to-date small-scale and corporate
industry, extensive
government welfare measures, comfortable living
standards, and high
dependence on foreign trade. Denmark is
self-sufficient in food
production. The new center-left coalition
government will concentrate
on reducing the persistent persistently high
unemployment rate and the budget
deficit as well as following the
previous government's policies of
maintaining low inflation and a
current account surplus. In the face
of recent international market
pressure on the Danish krone, the
coalition has also vowed to
maintain a stable currency. The coalition
hopes to lower marginal
income taxes while maintaining overall tax
revenues; boost
industrial competitiveness through labor market and
tax reforms and
increased research and development funds; and improve
welfare
services for the neediest while cutting paperwork and delays.
Prime
Minister RASMUSSEN's reforms will focus on adapting Denmark to
the
criteria for European integration by 1999; although Copenhagen has
won from
the European Union (EU) the right to opt out of the European
Monetary Union (EMU) if a national referendum rejects it. Denmark is,
is, in fact, one of the few EU countries likely to fit into the EMU on
on time. Denmark is weathering the current worldwide slump better than
than many West European countries. After posting 4.5% real GDP growth in
1994, Copenhagen is predicting a continued strong showing in 1995,
with real GDP up by 3.2%. The government expects an upswing in
business investment in 1995 to drive economic growth. Although
unemployment is high, it
remains stable compared to most European
countries.

This thoroughly modern market economy features
high-tech agriculture, up-to-date small-scale and corporate
industry,
extensive government welfare measures, comfortable living
standards,
and high dependence on foreign trade. Denmark is a net exporter of
self-sufficient in food production. food. The new center-left coalition
government will concentrate on
reducing the persistently high
unemployment rate and the budget
deficit as well as following the
previous government's policies of
maintaining low inflation and a
current account surplus. In the face of recent international market
pressure on the Danish krone, the The coalition has
also vowed vows to
maintain a stable currency. The coalition hopes to lower marginal has lowered
marginal income taxes while maintaining overall tax revenues; boost boosted
industrial competitiveness through labor market and tax reforms and
increased research and development funds; and improve improved welfare
services for the neediest while cutting paperwork and delays. Prime
Minister RASMUSSEN's reforms will focus on adapting Denmark to the
criteria
for European integration by 1999; Copenhagen has won from
the European
Union (EU) the right to opt out of the European
Monetary Union (EMU) if a national referendum rejects it. Denmark (EMU).
Denmark is, in fact, one of the few EU countries likely to fit into
the EMU
on time. Denmark is weathering the current worldwide slump better
than many West European countries. Although unemployment is high, it
remains stable compared to most European countries.

This thoroughly modern market economy features
high-tech agriculture, up-to-date small-scale and corporate industry,
extensive government welfare measures, comfortable living standards,
and high dependence on foreign trade. Denmark is a net exporter of
food. The center-left coalition government will concentrate on
reducing the persistently high unemployment rate and the budget
deficit as well as following the previous government's policies of
maintaining low inflation and a current account surplus. The coalition
also vows to maintain a stable currency. The coalition has lowered
marginal income taxes while maintaining overall tax revenues; boosted
industrial competitiveness through labor market and tax reforms and
increased research and development funds; and improved welfare
services for the neediest while cutting paperwork and delays. Prime
Minister RASMUSSEN's reforms focus on adapting Denmark to the criteria
for European integration by 1999; Copenhagen has won from the European
Union (EU) the right to opt out of the European Monetary Union (EMU).
Denmark is, in fact, one of the few EU countries likely to fit into
the EMU on time. Growth may fall off slightly to 2.8% in 1998, and
inflation may rise to 2.5%.

This thoroughly modern market economy features
high-tech agriculture, up-to-date small-scale and corporate industry,
industry, extensive government welfare measures, comfortable living standards,
standards, and high dependence on foreign trade. Denmark is a net
exporter of
food. The center-left coalition government will
concentrate on
reducing the persistently high unemployment rate and
the budget
deficit as well as following the previous government's
policies of
maintaining low inflation and a current account surplus.
The coalition
also vows to maintain a stable currency. The coalition
has lowered
marginal income taxes while maintaining overall tax
revenues; boosted
industrial competitiveness through labor market
and tax reforms and
increased research and development funds; and
improved welfare
services for the neediest while cutting paperwork
and delays. Prime
Minister RASMUSSEN's reforms focus on adapting Denmark chose not to the criteria
for European integration by 1999; Copenhagen has won from join the European 11 other EU members who
Union (EU) the right to opt out of launched the European Monetary Union (EMU).
Denmark is, in fact, one euro on 1 January 1999. Because of the few EU countries likely to fit into global slowdown,
the EMU on time. Growth GDP growth may fall off slightly to 2.8% 1% in 1998, and
inflation may rise to 2.5%. 1999.

This thoroughly modern market economy features
high-tech agriculture, up-to-date small-scale and corporate
industry, extensive government welfare measures, comfortable living
standards, and high dependence on foreign trade. Denmark is a net
exporter of food. The center-left coalition government will
concentrate is concentrating on reducing the persistently high unemployment rate and
the budget deficit as well as following the previous government's
policies of maintaining low inflation and a current account surplus.
The coalition also vows to maintain a stable currency. The coalition
has lowered marginal income taxes tax rates while maintaining overall tax
revenues; boosted industrial competitiveness through labor market
and tax reforms and reforms; increased research and development funds; and
improved welfare services for the neediest while cutting paperwork
and delays. Denmark chose not to join the 11 other EU members who
launched the euro on 1 January 1999. Because of the global slowdown,
GDP growth may fall to 1% in 1999.

This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, and high dependence on foreign trade. Denmark is a net exporter of food. food and energy and has a comfortable balance of payments surplus. The center-left coalition government is concentrating on reducing has reduced the formerly high unemployment rate and the attained a budget deficit surplus as well as following followed the previous government's policies of maintaining low inflation and a current account surplus. The coalition also vows to maintain a stable currency. The coalition has lowered marginal income tax rates while and raised environmental taxes thus maintaining overall tax revenues; boosted industrial competitiveness revenues. Problems of bottlenecks, and longer term demographic changes reducing the labor force, are being addressed through labor market and tax reforms; increased research and development funds; reforms. The government has been successful in meeting, and improved welfare services even exceeding, the economic convergence criteria for participating in the neediest while cutting paperwork and delays. Denmark chose third phase (a common European currency) of the European Monetary Union (EMU), but Denmark, in a September 2000 referendum, reconfirmed its decision not to join the 11 other EU members who launched in the euro on 1 January 1999. euro. Even so, the Danish currency remains pegged to the euro.

This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Denmark is a net exporter of food and energy and has a comfortable balance of payments surplus. The center-left coalition government has reduced the formerly high unemployment rate and attained a budget surplus as well as followed Government objectives include streamlining the previous government's policies of maintaining low inflation and a stable currency. The coalition has lowered marginal income tax rates bureaucracy and raised environmental taxes thus maintaining overall tax revenues. Problems further privatization of bottlenecks, and longer term demographic changes reducing the labor force, are being addressed through labor market reforms. state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Monetary Union (EMU), but Denmark, in a September 2000 referendum, reconfirmed its decision Denmark has decided not to join the 11 12 other EU members in the euro. Even euro; even so, the Danish currency Krone remains pegged to the euro. Given the sluggish state of the world economy, growth in 2003 likely will be only moderately higher than in 2002.

This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Denmark is a net exporter of food and energy and has enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatization of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but Denmark has decided not to join the 12 other EU members in the euro; even so, the Danish Krone remains pegged to the euro. Given the sluggish state of the world European economy, growth in 2003 likely will be only moderately higher than in 2002. was a mere 1.1%.

This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatization of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but Denmark has decided not to join the 12 other EU members in the euro; even so, the Danish Krone remains pegged to the euro. Given the sluggish state of the European economy, growth in 2003 was a mere 1.1%. 0.3%.

This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatization of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but Denmark has decided not to join 12 other EU members in the euro; even so, the Danish Krone krone remains pegged to the euro. Given Growth in 2004 was sluggish, yet above the sluggish state scanty 0.3% of 2003. Because of high GDP per capita, welfare benefits, a low Gini index, and political stability, the European economy, growth Danish people enjoy living standards topped by no other nation. A major long-term issue will be the sharp decline in 2003 was a mere 0.3%. the ratio of workers to retirees.

This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatization of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but Denmark has decided not to join 12 other EU members in the euro; even so, euro. Nonetheless, the Danish krone remains pegged to the euro. Growth Economic growth gained momentum in 2004 was sluggish, yet above and the scanty 0.3% of 2003. upturn accelerated through 2005. Because of high GDP per capita, welfare benefits, a low Gini index, and political stability, the Danish people enjoy living standards topped by no other nation. A major long-term issue will be the sharp decline in the ratio of workers to retirees.

The Danish economy has in recent years undergone strong expansion fueled primarily by private consumption growth, but also supported by exports and investments. This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Unemployment is low and capacity constraints are limiting growth potential. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatization of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but Denmark has decided not to join 12 other EU members in the euro. Nonetheless, the Danish krone remains pegged to the euro. Economic growth gained momentum in 2004 and the upturn accelerated continued through 2005. 2006. The controversy over caricatures of the Prophet Muhammad printed in a Danish newspaper in September 2005 led to boycotts of some Danish exports to the Muslim world, especially exports of dairy products, but the boycotts did not have a significant impact on the overall Danish economy. Because of high GDP per capita, welfare benefits, a low Gini index, and political stability, the Danish people enjoy living standards topped by no other nation. are among the highest in the world. A major long-term issue will be the sharp decline in the ratio of workers to retirees.

The Danish economy has in recent years undergone strong expansion fueled primarily by private consumption growth, but also supported by exports and investments. This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Unemployment is low and capacity constraints are limiting growth potential. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatization of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but so far Denmark has decided not to join 12 15 other EU members in the euro. Nonetheless, the Danish krone remains pegged to the euro. Economic growth gained momentum in 2004 and the upturn continued through 2006. 2007. The controversy over caricatures of the Prophet Muhammad printed in a Danish newspaper in September 2005 led to boycotts of some Danish exports to the Muslim world, especially exports of dairy products, but the boycotts did not have a significant impact on the overall Danish economy. Because of high GDP per capita, welfare benefits, a low Gini index, and political stability, the Danish living standards are among the highest in the world. A major long-term issue will be the sharp decline in the ratio of workers to retirees.

The Danish economy has in recent years undergone strong expansion fueled primarily by private consumption growth, but also supported by exports and investments. This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, an equitable distribution of income, comfortable living standards, a stable currency, a stable political system, and high dependence on foreign trade. Unemployment is low and capacity constraints are limiting limit growth potential. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatization of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but so far Denmark has decided not to join 15 16 other EU members in the euro. Nonetheless, the Danish krone remains pegged to the euro. Denmark's fiscal position is among the strongest in the EU. Economic growth gained momentum in 2004 and the upturn continued through 2007. The controversy over caricatures of the Prophet Muhammad printed in 2006. After a Danish newspaper long consumption-driven upswing, Denmark's economy began slowing in September 2005 led to boycotts of some Danish exports to early 2007 with the Muslim world, especially exports end of dairy products, but the boycotts did not have a significant impact on housing boom. This cyclical slowdown has been exacerbated by the overall Danish economy. Because of high GDP per capita, welfare benefits, a low Gini index, global financial crisis through increased borrowing costs and political stability, the Danish living standards are among the highest lower export demand, consumer confidence, and investment. The slowing global economy cut GDP by 1.2% in the world. 2008. A major long-term issue will be the sharp decline in the ratio of workers to retirees.

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. The Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy among the highest standards of living in the world and the Danish economy is also characterized by extensive government welfare measures, measures and an equitable distribution of income, and comfortable living standards. income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. surplus, but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises cut Danish GDP by 0.9% in 2008 and 4.7% 5.2% in 2009. Historically low levels of unemployment rose sharply with the recession but remain below 5%, based on the national measure, about half the level of the EU. EU; harmonized to OECD standards the unemployment rate was about 8% at the end of 2010. Denmark made a modest recovery in 2010 in part because of increased government spending. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit during 2009-10. Nonetheless, Denmark's fiscal position remains among the strongest in the EU. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro.

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy among the highest standards a high standard of living in the world and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus, surplus but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09. 2008-09 and, following a short respite in 2010, has since continued to decline. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises cut Danish real GDP by 0.9% in 2008 and 5.2% 2008-09. Denmark made a modest recovery in 2009. 2010 with real GDP growth of 1.3%, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession but remain below 5%, and have remained at about 6% in 2010-12, based on the national measure, about half the level of the EU; harmonized to OECD standards the unemployment rate was about 8% at the end of 2010. Denmark made a modest recovery in 2010 in part because of increased government spending. two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit during 2009-10. in 2009. In spite of the deficits, the new coalition government delivered a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU. EU with public debt at about 45% of GDP in 2012. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro. Denmark held the EU presidency during the first half of 2012; priorities included promoting a responsible, dynamic, green, and safe Europe, while working to steer Europe out of its euro zone economic crisis.

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy a high standard of living and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, has since continued to decline. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises crisis cut Danish real GDP in 2008-09. Denmark made a modest recovery in 2010 with real GDP growth of 1.3%, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-12, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009. In spite of the deficits, the new coalition government delivered a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU with public debt at about 45% of GDP in 2012. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro. Denmark held the EU presidency during the first half of 2012; priorities included promoting a responsible, dynamic, green, and safe Europe, while working to steer Europe out of its euro zone economic crisis.

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy a high standard of living and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus surplus, but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, has have since continued to decline. Household indebtedness is still relatively high at more than 275% of gross disposable income in the first half of 2013. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crisis cut Danish real GDP in 2008-09. Denmark made a modest recovery in 2010 with real GDP growth of 1.3%, 2010, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-12, 2010-13, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009. 2009, where it remains. In spite of the deficits, the new coalition government delivered a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU with public debt at about 45% 46% of GDP in 2012. 2013. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro.

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy a high standard of living and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus, but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, have since continued to decline. Household indebtedness is still relatively high at more than 275% of gross disposable income in the first half of 2013. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. Denmark made a modest recovery in 2010, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. 2011 and has been slow to emerge from it in 2012-14 . Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-13, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009, where it remains. In spite of the deficits, the new coalition government delivered a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU with public debt at about 46% of GDP in 2013. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although negotiated an opt-out with the Danish krone remains pegged EU and is not required to adopt the euro.

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art advanced industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member net exporter of the European Union (EU); Danish legislation food, oil, and regulations conform to EU standards gas and enjoys a comfortable balance of payments surplus, but depends on almost all issues. imports of raw materials for the manufacturing 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 major long-term issue.
Denmark is a net exporter member of food and energy the EU; Danish legislation and enjoys a comfortable balance of payments surplus, but depends regulations conform to EU standards on imports of raw materials for almost all issues. Despite previously meeting the manufacturing sector. 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. Within the EU, Denmark is among the strongest supporters of trade liberalization.
After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, but, with significant regional differences, have since continued to decline. recovered. Household indebtedness is still relatively high at more than 275% 305% of gross net disposable income in the first half 2014, while household net worth - from private pension schemes and other assets - amounted to 546% of 2013. net disposable income.
The global financial crisis has exacerbated this cyclical slowdown through increased by increasing domestic borrowing costs and lower export demand, consumer confidence, and investment. Denmark made a modest recovery in 2010, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011 and has been slow to emerge from it in 2012-14 . Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-13, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. lowering foreign demand for Danish exports. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009, where it remains. In spite of the deficits, the new coalition government delivered 2009. The structural budget deficit has remained below 1% and is estimated at -0.4% in 2016. Denmark is experiencing a modest stimulus to lackluster economic recovery, having still not regained the economy GDP level of 2008. GDP contracted in 2012. Despite previously meeting the criteria to join the European Economic 2012 and Monetary Union (EMU), Denmark has negotiated an opt-out 2013, followed by real growth of 1.3% in 2014, and 1.2% in 2015. The government projects 1.9% growth in 2016, while private sector estimates are about 1% growth. A historically low level of unemployment rose with the EU economic downturn but the labor market has strengthened since 2013, and is not required to adopt unemployment stood at about 4.5% in early 2016, based on the euro. national measure. Productivity growth was significantly below the OECD average in 2012–2014.

This thoroughly modern market economy features a high-tech agricultural sector, advanced industry with world-leading firms in pharmaceuticals, maritime shipping shipping, and in renewable energy, and a high dependence on foreign trade. 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. Danes enjoy a high standard of living living, and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. An aging population will be a major long-term issue.
Denmark is a member of the EU; Danish legislation and regulations conform to EU standards on almost all issues. 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. Within the EU, Denmark is among the strongest supporters of trade liberalization.
After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 but, with significant regional differences, have since recovered. Household indebtedness Denmark is still relatively high at more than 305% of net disposable income in 2014, while household net worth - from private pension schemes and other assets - amounted to 546% of net disposable income.
experiencing a modest economic expansion. The global financial crisis exacerbated this cyclical slowdown economy grew by increasing domestic borrowing costs and lowering foreign demand for Danish exports. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit 1.6% in 2009. The structural budget deficit has remained below 1% 2015 and is an estimated at -0.4% 1.3% in 2016. Denmark The expansion is experiencing a lackluster economic recovery, having still not regained the GDP level of 2008. GDP contracted in 2012 and 2013, followed by real growth of 1.3% expected to continue at similar rates in 2014, 2017 and 1.2% in 2015. 2018. The government projects 1.9% growth in 2016, while private sector estimates are about 1% growth. A historically low level of unemployment rose with the economic downturn but the labor market has strengthened since 2013, and unemployment stood at about 4.5% 4.2% in early 2016, 2017, based on the national measure. By early 2017, some sectors were experiencing difficulties attracting qualified labor. Productivity growth was significantly below the OECD average from the mid-1990s until 2011, but has increased in 2012–2014. recent years. Improvement in productivity is needed to ensure continued growth.
Denmark maintained a healthy budget surplus for many years up to 2008, but the global financial crisis swung the budget balance into deficit. The 2016 deficit was 1.4%. The government projects lower deficits in 2017 and 2018, and public debt (EMU debt) as a share of GDP is expected to decline. In 2015, household indebtedness remained relatively high at more than 292% of net disposable income, while household net worth - from private pension schemes and other assets - amounted to 497% of net disposable income.

This thoroughly modern market economy features a high-tech agricultural sector, advanced industry with world-leading firms in pharmaceuticals, maritime shipping, and in renewable energy, and a high dependence on foreign trade. 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 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; Danish legislation and regulations conform to EU standards on almost all issues. 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. Within the EU, Denmark is among the strongest supporters of trade liberalization.
Denmark is experiencing a modest economic expansion. The economy grew by 1.6% 2.0% in 2015 2016 and an estimated 1.3% 2.1% in 2016. 2017. The expansion is expected to continue at similar rates decline slightly in 2017 and 2018. The labor market has strengthened since 2013, and unemployment Unemployment stood at 4.2% 5.5% in early 2017, based on the national measure. By early 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 were experiencing difficulties attracting that need qualified labor. Productivity growth was significantly below the OECD average from the mid-1990s until 2011, but has increased in recent years. Improvement in productivity is needed to ensure continued growth.
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 2016 deficit Since 2014 the balance has shifted between surplus and deficit. In 2017 there was 1.4%. a surplus of 1.0%. The government projects a lower deficits deficit in 2017 2018 and 2018, 2019 of 0.7%, and public debt (EMU debt) as a share of GDP is expected to decline. In 2015, household indebtedness remained relatively high at more than 292% of net disposable income, while household net worth - from private pension schemes decline to 35.6% in 2018 and other assets - amounted 34.8% in 2019. The Danish Government plans to 497% of net disposable income. address increasing municipal, public housing and integration spending in 2018.

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.

high-income, EU member, EU-member, trade-oriented Nordic economy; growth driven by pharmaceuticals, energy energy, and services; large share of employment in public sector; fixed exchange rate pegged to euro; strong fiscal position; position and declining public debt; tight labor market addressed mitigated by migrant workers and higher average retirement age