Indicators of economy in 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

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