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Denmark Economy 2010
https://workmall.com/wfb2010/denmark/denmark_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Denmark Economy 2010
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 15, 2010

Economy - overview:
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 alternative energy, and a high dependence on foreign trade. The Danish economy is also characterized by extensive government welfare measures, an equitable distribution of income, and comfortable living standards. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. After a long consumption-driven upswing, Denmark's economy began slowing in early 2007 with the end of a housing boom. 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 1.2% in 2008 and 3.6% in 2009. Historically low levels of unemployment have risen sharply with the recession. 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. Nonetheless, Denmark's fiscel position remains among the strongest in the EU. Despite 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.

GDP (purchasing power parity):
$199.1 billion (2009 est.)

$206.5 billion (2008 est.)
$209 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$308.3 billion (2009 est.)

GDP - real growth rate:
-3.6% (2009 est.)

-1.2% (2008 est.)
1.6% (2007 est.)

GDP - per capita (PPP):
$36,200 (2009 est.)

$37,700 (2008 est.)
$38,200 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 1.2%
industry: 25.7%
services: 73.1% (2009 est.)

Labor force:
2.85 million (2009 est.)

Labor force - by occupation:
agriculture: 2.9%
industry: 23.8%
services: 72.7% (2005 est.)

Unemployment rate:
3.6% (2009 est.)

1.842% (2008 est.)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%: 24% (2000 est.)

Distribution of family income - Gini index:
24 (2005)

24.7 (1992)

Investment (gross fixed):
19.2% of GDP (2009 est.)

Budget:
revenues: $162.1 billion
expenditures: $170.7 billion (2009 est.)

Public debt:
38.1% of GDP (2009 est.)

33.5% of GDP (2008 est.)

Inflation rate (consumer prices):
1.3% (2009 est.)

3.4% (2008 est.)

Central bank discount rate:
3.5% (31 December 2008)

4% (31 December 2007)

Commercial bank prime lending rate:
NA% (31 December 2008)

Stock of money:
$143 billion (31 December 2008)

$148.7 billion (31 December 2007)

Stock of quasi money:
$95.82 billion (31 December 2008)

$81.64 billion (31 December 2007)

Stock of domestic credit:
$695.8 billion (31 December 2008)

$684.7 billion (31 December 2007)

Market value of publicly traded shares:
$NA (31 December 2008)

$277.7 billion (31 December 2007)
$231 billion (31 December 2006)

Agriculture - products:
barley, wheat, potatoes, sugar beets; pork, dairy products; fish

Industries:
iron, steel, nonferrous metals, chemicals, food processing, machinery and transportation equipment, textiles and clothing, electronics, construction, furniture and other wood products, shipbuilding and refurbishment, windmills, pharmaceuticals, medical equipment

Industrial production growth rate:
-7.5% (2009 est.)

Electricity - production:
36.92 billion kWh (2007 est.)

Electricity - consumption:
35.79 billion kWh (2007 est.)

Electricity - exports:
11.36 billion kWh (2008 est.)

Electricity - imports:
12.82 billion kWh (2008 est.)

Oil - production:
288,800 bbl/day (2008 est.)

Oil - consumption:
181,100 bbl/day (2008 est.)

Oil - exports:
287,100 bbl/day (2008 est.)

Oil - imports:
153,800 bbl/day (2008 est.)

Oil - proved reserves:
1.06 billion bbl (1 January 2009 est.)

Natural gas - production:
10.09 billion cu m (2008 est.)

Natural gas - consumption:
4.59 billion cu m (2008 est.)

Natural gas - exports:
5.516 billion cu m (2008 est.)

Natural gas - imports:
0 cu m (2008 est.)

Natural gas - proved reserves:
61.3 billion cu m (1 January 2009 est.)

Current account balance:
$10.41 billion (2009 est.)

$6.938 billion (2008 est.)

Exports:
$88.87 billion (2009 est.)

$114.9 billion (2008 est.)

Exports - commodities:
machinery and instruments, meat and meat products, dairy products, fish, pharmaceuticals, furniture, windmills

Exports - partners:
Germany 18%, Sweden 14.5%, UK 8.2%, Norway 5.7%, US 5.3%, France 4.8%, Netherlands 4.6% (2008)

Imports:
$83.37 billion (2009 est.)

$116.4 billion (2008 est.)

Imports - commodities:
machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods

Imports - partners:
Germany 20.9%, Sweden 14%, Netherlands 6.7%, Norway 6.3%, China 5.7%, UK 5.1% (2008)

Reserves of foreign exchange and gold:
$NA (31 December 2009 est.)

$42.32 billion (31 December 2008 est.)

Debt - external:
$607.4 billion (30 June 2009 est.)

$588.8 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$160.4 billion (31 December 2009 est.)

$142.7 billion (31 December 2008 est.)

Stock of direct foreign investment - abroad:
$204.5 billion (31 December 2009 est.)

$181.9 billion (31 December 2008 est.)

Exchange rates:
Danish kroner (DKK) per US dollar - 5.4742 (2009), 5.0236 (2008), 5.4797 (2007), 5.9468 (2006), 5.9969 (2005)
note: the Danish krone is pegged to the euro


NOTE: The information regarding Denmark on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Denmark Economy 2010 information contained here. All suggestions for corrections of any errors about Denmark Economy 2010 should be addressed to the CIA.






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