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Indicators of economy in Denmark

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,232 USD per capita. GDP in Denmark, on the other hand, reached USD 68,008 per capita, or 398.30 billion USD for the whole country. Denmark is therefore currently ranked 35 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Denmark ranks 14th in the list of the richest countries.

Inflation in Denmark in 2021 was around 1.85%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

The index for perceived corruption in the public sector is 90, which is above average by global standards.


Back to overview: Denmark

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Denmark in 2020 increased from 346.50 billion US dollars to 355.22 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 2.5 percent increase has been rather unusual this year. While most countries have suffered significant losses, Denmark has certainly held its own. The unemployment rate rose from 5.0 to 5.6 percent. The country's gross debt increased by 29.1 percent. The inflation rate fell from 0.8 percent previously to 0.4 percent by the end of 2020.

Income and purchasing power

The average monthly income in Denmark is 5,692 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. Compared with the United States, however, prices for daily consumer goods are around 19.9 percent higher. If you compare income and price levels, the result is a more expensive life in Denmark than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 19.7 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Denmark
Total
Denmark
per capita
EU
Total
EU
per capita
GDP398.30 bn USD68,007.76 USD17.177 tn USD33,384.92 USD
Gross national product400.04 bn USD68,303.77 USD16.895 tn USD32,835.37 USD


In the Global Innovation Index, Denmark ranked 10th in 2022 with 55.9 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points. Out of the 2,000 largest listed companies in the world, 11 originate from Denmark. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country in 2022 were:

Rank 161: Møller-Maersk (Copenhagen)
Rank 285: Novo Nordisk (Bagsværd)
Rank 371: Danske Bank (Copenhagen)
Rank 479: DSV Panalpina (Hedehusene)
Rank 521: Orsted (Fredericia)
Rank 933: Vestas Wind Systems (Aarhus)
Rank 936: Carlsberg (Copenhagen)
Rank 1395: Coloplast (Humlebaek)
Rank 1669: Jyske Bank (Silkeborg)
Rank 1844: Chr. Hansen Holding (Hørsholm)

Development of gross domestic product in billions of USD 1970 - 2021


Household debt and deficits 2021


 Denmark
Total
Denmark
per capita
EU
Total
EU
per capita
Gross debt145.89 bn USD24,909.24 USD15.068 tn USD29,285.70 USD
Budget deficit-9.33 bn USD-1,593.09 USD799.24 bn USD1,553.35 USD

Please note: A negative budget deficit equivalents to a surplus


Imports and Exports 2021

 Denmark
Total
Denmark
per capita
EU
Total
EU
per capita
Imports207.12 bn USD35,365.15 USD8.916 tn USD17,329.02 USD
Exports233.80 bn USD39,920.25 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1975 - 2021

Exports
Imports



Denmark: AirportsLargest airports and airlines in DenmarkThe 10 biggest airports and 4 airlines in Denmark with further information and data with further information on airlines and destinations
Denmark: Public HolidaysPublic holidays in Denmark 2023-2027Statutory and inofficial holidays in Denmark for 2023 to 2027
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.