An Overview of the Economy
Denmark is a very modern market with a strong and stable economy
and is very dependent on foreign imports and exports to continue
its growth. The economy initially relied on the country's
agriculture and although this is still the most important industry
within the economy, manufacturing and services have gained higher
value within the growth of the economy. Denmark enjoys a very low
unemployment rate and boasts one of the highest standards of living
in the world.
| statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
203.7 |
| GDP (PPP) (CIA) (US$Billions) |
203.7 |
| GDP Growth (IMF) (%) |
1.8 |
| GDP Growth (CIA) (%) |
1.8 |
| GDP Per Capita (PPP) (IMF) (US$) |
3,739 |
| GDP Per Capita (PPP) (CIA) (US$) |
3,740 |
| GDP by Sector (%) |
Agriculture: 1.5%
Services: 72.4%
Industry: 26% |
| Inflation (%) |
1.7% |
| Population Below the Poverty Line (%) |
- |
| Labour Force (Millions) |
2.86 |
| Labour Force by Occupation (%) |
Agriculture: 3%
Services: 76%
Industry: 21% |
| Unemployment (%) |
2.8% |
| Main industries |
Iron, steel, nonferrous metals, chemicals, food
processing,
machinery and transportation equipment, textiles and
clothing, electronics, construction. |
Source: CIA World Factbook, IMF
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
212.9 |
244.9 |
258.6 |
276.3 |
311.9 |
| GDP Growth (%) |
0.4% |
2.3% |
2.5% |
3.9% |
1.8% |
| GDP Per Capita (US$) |
39,558 |
45,384 |
47,788 |
50,904 |
57,261 |
| GDP Per Capita (PPP) (US$) |
30,303 |
31,764 |
33,593 |
35,896 |
37,392 |
| Inflation (%) |
1.4% |
1.2% |
2.2% |
1.8% |
2.3% |
| Unemployment (%) |
5.7% |
5.8% |
5.1% |
3.9% |
2.8% |
| Mobile Phone Users |
1,444,016 |
4,785,300 |
4,785,300 |
5,469,000 |
5,841,000 |
| Internet Users |
3,370,000 |
2,756,000 |
2,756,000 |
3,762,000 |
- |
Source: IMF, CIA World Factbook
Major Exports & Imports
Denmark has a very stable economy with a high standard of
living, this is mainly due to strong imports and exports which
support the economy. The country is very self sufficient by
producing natural resources such as oil and gas which means less
money is to be spent on extra imports and more money can be made on
exports.
Major Exports 2007
Machinery and instruments, meat and meat products, dairy
products, fish, pharmaceuticals, furniture, windmills.
Major Imports 2007
Machinery and equipment, grain and food stuff, chemicals,
consumer goods, raw materials, semi manufactures for industry.
| export partners 2007 |
% of total |
| Germany |
17.3% |
| Sweden |
14.1% |
| UK |
8.7% |
| US |
6.2% |
| Netherlands |
5.4% |
| Norway |
5.4% |
| France |
4.9% |
| import partners 2007 |
% of total |
| Germany |
21.4% |
| Sweden |
14.2% |
| Norway |
6.5% |
| Netherlands |
6.3% |
| UK |
5.7% |
| China |
5% |
| France |
4.4% |
Source: CIA World Factbook
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