Economy - overview This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Denmark is a net exporter of food and energy and has a comfortable balance of payments surplus. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Monetary Union (EMU), but Denmark, in a September 2000 referendum, reconfirmed its decision not to join the 11 other EU members in the euro. Even so, the Danish currency remains pegged to the euro.

GDP purchasing power parity - $149.8 billion (2001 est.)

GDP - real growth rate 1.1% (2001 est.)

GDP - per capita purchasing power parity - $28,000 (2001 est.)

GDP - composition by sector
agriculture: 3%
industry: 22%
services: 75% (2001 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 24.7 (1992)

Inflation rate (consumer prices) 2.4% (2001 est.)

Labor force 2.856 million (2000 est.)

Labor force - by occupation services 79%, industry 17%, agriculture 4% (2000 est.)

Unemployment rate 5.3% (2000)

Budget
revenues: $52.9 billion
expenditures: $51.3 billion, including capital expenditures of $500 million (2001 est.)

Industries food processing, machinery and equipment, textiles and clothing, chemical products, electronics, construction, furniture, and other wood products, shipbuilding, windmills

Industrial production growth rate 1% (2001 est.)

Electricity - production 35.792 billion kWh (2000)

Electricity - production by source
fossil fuel: 83.86%
hydro: 0.08%
other: 16.06% (2000)
nuclear: 0%

Electricity - consumption 33.925 billion kWh (2000)

Electricity - exports 7.679 billion kWh (2000)

Electricity - imports 8.318 billion kWh (2000)

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

Exports $52.4 billion (f.o.b., 2001)

Exports - commodities machinery and instruments, meat and meat products, dairy products, fish, chemicals, furniture, ships, windmills

Exports - partners EU 65.9% (Germany 19.1%, Sweden 12.9%, UK 9.8%, France 5.0%, Netherlands 5.0%), US 5.9%, Norway 5.5% (2000)

Imports $44.1 billion (f.o.b., 2001)

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

Imports - partners EU 69.7% (Germany 21.1%, Sweden 12.3%, UK 8.6%, Netherlands 7.5%, France 5.2%, Italy 4.4%), US 4.1% (2000)

Debt - external $21.7 billion (2000)

Economic aid - donor ODA, $1.63 billion (1999)

Currency Danish krone (DKK)

Currency code DKK

Exchange rates Danish kroner per US dollar - 8.418 (January 2002), 8.323 (2001), 8.083 (2000), 6.976 (1999), 6.701 (1998), 6.604 (1997); note - the Danes rejected the euro in a 28 September 2000 referendum

Fiscal year calendar year

NOTE: The information regarding Denmark on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Denmark Economy 2002 information contained here. All suggestions for corrections of any errors about Denmark Economy 2002 should be addressed to the CIA.