GDP reading disappoints markets: Australia’s GDP increased 0.3% in seasonally adjusted quarter-on-quarter terms in Q1, following a 0.9% expansion in...
Economic Growth in Denmark
Denmark's economy recorded an average growth rate of 2.0% in the decade to 2024, compared to the 1.7% average for Nordic Economies. In 2024, real GDP growth was 3.5%. For more GDP information, visit our dedicated page.
Denmark GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Denmark from 2014 to 2025.
Source: Macrobond.
Denmark GDP Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Economic Growth (Real GDP, ann. var. %) | 6.5 | 0.4 | 0.6 | 3.5 | 2.9 |
| GDP (USD bn) | 406 | 400 | 405 | 424 | 463 |
| GDP (EUR bn) | 343 | 381 | 374 | 392 | 410 |
| GDP (DKK bn) | 2,553 | 2,831 | 2,788 | 2,927 | 3,063 |
| Economic Growth (Nominal GDP, ann. var. %) | 9.7 | 10.9 | -1.5 | 5.0 | 4.6 |
Economic growth rises in the first quarter of 2026
GDP reading: Denmark's GDP increased 1.9% on a seasonally adjusted quarter-on-quarter basis in Q1, following a 0.5% expansion in the previous quarter. The economy’s performance was flattered by the pharma sector; excluding pharma, the remaining part of the economy grew by only 0.2% in quarter-on-quarter terms. In annual terms, the economy increased 5.9% in Q1, following a 3.1% expansion in the prior quarter.
Drivers: Compared with the prior period's data, readings in Q1 improved for private consumption (+1.2% on a seasonally adjusted quarter-on-quarter basis vs +0.6% in Q4), exports of goods and services (+3.8% vs -0.3% in Q4) and imports of goods and services (+0.3% vs -0.7% in Q4). In contrast, readings worsened for government consumption (-3.8% vs +5.1% in Q4) and fixed investment (-3.5% vs +1.2% in Q4).
Panelist insight: On their GDP growth outlook, EIU analysts said: “The main risks to our growth outlook stem from a weaker external trade environment, greater international trade uncertainty and higher global commodity prices as the conflict in the Middle East remains elevated. The spike in global oil prices is likely to affect Denmark through higher inflation, lower growth and a narrower budget surplus than our previous forecasts for both 2026 and 2027.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Danish GDP projections for the next ten years from a panel of 18 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Danish GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Danish GDP projections.
Want to get access to the full dataset of Danish GDP forecasts? Send an email to info@focus-economics.com.
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