Nice street in Denmark

Dinamarca Economy

Denmark's economy in numbers:

Nominal GDP of USD 400 billion in 2022.

GDP per capita of USD 68,122 compared to the global average of USD 10,589.

Average real GDP growth of 2% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 79% of overall GDP, manufacturing 13%, other industrial activity 7%, and agriculture 1%. Looking at GDP by expenditure, private consumption accounted for 46% of GDP in 2021, government consumption 24%, fixed investment 23%, and net exports 7%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2021, manufactured products made up 72% of total merchandise exports, mineral fuels 4%, food 17%, ores and metals 2% and agricultural raw materials 2%, with other categories accounting for 3% of the total. In the same period, manufactured products made up 74% of total merchandise imports, mineral fuels 8%, food 13%, ores and metals 2% and agricultural raw materials 2%, with other goods accounting for 1% of the total. Total exports were worth USD 131 billion in 2022, while total imports were USD 128 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 2.0% in the decade to 2022. To read more about GDP growth in Denmark, go to our dedicated page.

Fiscal policy:

Denmark's fiscal surplus averaged 0.9% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 6.0% in the decade to 2022. For more information on Denmark's unemployment click here.

Inflation:

Inflation averaged 1.6% in the decade to 2022. Go to our Denmark inflation page for extra insight.

Monetary Policy:

Denmark's monetary policy rate ended 2022 at 1.75%, up from -0.20% a decade earlier. See our Denmark monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the krone weakened by 18.6% vs the U.S. dollar. For more info on the krone, click here.
The economy should have exited a technical recession in Q4, with quarter-on-quarter GDP growth supported by a low base effect. Looking at available data, the unemployment rate was virtually unchanged in the first two months of Q4 from Q3. Moreover, purchasing power recovered further, as wage growth outpaced inflation. The latter averaged its lowest level in three years in Q4, supporting private consumption: Retail sales expanded at a quicker month-on-month pace on average in October–December than in Q3. Similarly, manufacturing output returned to growth on average in the same two-month period from Q3 on a robust pharmaceutical sector. Moving to Q1 2024, in January, business and consumer sentiment hit six-month and 23-month highs, respectively, boding well for employment and spending in Q1.
Projections out to 2033.

41 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 17 expert analysts.

Want to get insight on the economic outlook for Denmark in the coming years? FocusEconomics collects projections out to 2033 on 41 economic indicators for Denmark from a panel of 17 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. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Denmark economy. To download a sample report on the Denmark's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Dinamarca Datos económicos

2018 2019 2020 2021 2022
Población (millones) 5.8 5.8 5.8 5.8 5.9
PIB (en millones de dólares) 356.7 346.5 355.4 398.0 394.4
PIB per cápita (USD) 61,701 59,672 61,031 68,157 67,023
PIB (en millones de euros) 302.3 309.5 311.7 336.7 375.3
PIB per cápita (EUR) 52,295 53,311 53,536 57,657 63,764
PIB (en millones de coronas danesas) 2,253.3 2,311.0 2,323.9 2,504.2 2,791.6
Crecimiento económico (PIB nominal, var. anual) 2.8 2.6 0.6 7.8 11.5
Crecimiento económico (PIB, var. anual) 2.0 1.5 -2.0 4.9 3.6
Demanda interna (% var. anual) 2.7 0.5 -0.1 4.6 1.0
Consumo privado (% var. anual) 3.5 1.6 -1.4 4.1 -2.5
Consumo público (var. anual) 0.0 0.8 -1.4 4.2 -2.8
Inversión fija (% var. anual) 4.2 -1.3 5.1 6.2 8.4
Exportaciones (G&S, % var. anual) 3.4 4.5 -6.3 8.0 7.9
Importaciones (G&S, % var. anual) 5.1 3.0 -3.6 8.0 3.8
Producción industrial (% var. anual) 2.0 2.7 -5.5 8.3 15.1
Ventas al por menor (% var. anual) 1.6 0.6 3.7 3.9 -5.0
Renta disponible (var. anual) 1.6 1.2 -1.0 6.1 4.3
Salarios (% var. anual) 2.2 2.0 1.9 2.3 2.9
Desempleo (% de la población activa, aop) 5.2 5.0 5.6 5.1 4.5
Saldo fiscal (% del PIB) 0.8 4.2 0.2 3.7 -
Deuda pública (% del PIB) 34.0 33.7 42.2 36.6 -
Inflación (IPC, % var. anual, eop) 0.8 0.8 0.5 3.1 8.7
Inflación (IPC, % var. anual, aop) 0.8 0.8 0.4 1.9 7.7
Inflación (subyacente, % var. anual, aop) 0.7 0.8 0.9 1.1 4.7
Inflación (IPP, % var. anual, aop) 4.3 -0.6 -2.7 13.6 28.9
Tipo de los Certificados de Depósito (%, eop) -0.65 -0.75 -0.60 -0.60 1.75
CIBOR a 3 meses (%, eop) -0.28 -0.40 -0.23 -0.28 2.45
Rendimiento de los bonos a 10 años (%, eop) 0.22 -0.17 -0.46 0.05 2.71
Bolsa (var. anual de KAX all-share %) -13.0 27.4 29.0 27.2 -1.5
Tipo de cambio (DKK por USD, eop) 6.53 6.66 6.08 6.54 6.97
Tipo de cambio (DKK por USD, aop) 6.32 6.67 6.54 6.29 7.08
Tipo de cambio (DKK por EUR, eop) 7.46 7.47 7.44 7.44 7.44
Tipo de cambio (DKK por EUR, aop) 7.45 7.47 7.45 7.44 7.44
Balanza por cuenta corriente (en millones de euros) 22.0 27.4 25.4 27.7 -
Balanza por cuenta corriente (% del PIB) 7.3 8.8 8.2 8.2 -
Balanza comercial de mercancías (en millones de euros) 5.8 11.2 8.8 4.7 3.2
Inversión extranjera directa (en millones de euros) 1.5 6.3 2.6 4.9 -

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