Economy overview: The quite modern market economy of Denmark combines high-tech agriculture with modern small and corporate industry, a large-scale public welfare system for the population, a high standard of living and a strong dependence on foreign trade. Denmark is a net exporter of food and energy and has a positive trade balance. The center-left coalition government focused on reducing unemployment and achieving a budget surplus, as well as continuing the previous government’s policy of keeping inflation low and the currency stable. The coalition reduced the tax rate on marginal income and increased taxes on environmental protection, thereby leaving the overall level of taxation unchanged. The short-term problems of the economy and the problems of longer-term demographic changes leading to a shrinking workforce are addressed through labor market reforms. The government managed to meet the criteria for participation in the third stage of the creation of the European Monetary Union (the introduction of a single currency), but Denmark, in accordance with the results of a referendum in September 2000, did not join the 11 other EU countries that created the euro area. Even so, the Danish currency remains pegged to the euro. did not join the 11 other EU countries that created the euro area. Even so, the Danish currency remains pegged to the euro. did not join the 11 other EU countries that created the euro area. Even so, the Danish currency remains pegged to the euro. See businesscarriers.com to know more about Denmark Economics and Business.
GDP: at purchasing power parity – $136.2 billion (2000 est.).
Real GDP growth rate: 2.8% (2000 est.).
GDP per capita: at purchasing power parity – $25,500 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 3%; industry: 25%; service sector: 72% (2000).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: per 10% of the poorest families: 2%; by the top 10% of families: 24% (2000 est.).
Inflation rate at consumer prices: 2.9% (2000 OTs.).
Labor force: 2.856 million people (2000 est.).
Employment structure: services 79%, industry 17%, agriculture 4% (2000 est.).
Unemployment rate: 5.3% (2000 est.).
Budget: revenues: $52.9 billion; expenditures: $51.3 billion, including capital expenditures of $500 million (2000 est.).
Spheres of economy: food industry, production of machinery and equipment, fabrics and clothing, chemical products, electronics, construction, furniture and other wood products, shipbuilding, wind turbines.
Growth in industrial production: 3% (2000 est.).
Electricity generation: 37.885 billion kWh (1999)
Sources of electricity generation: fossil fuels: 88.4%; hydropower: 0.07%; nuclear fuel: 0%; others: 11.53% (1999).
Electricity consumption: 32.916 billion kWh (1999)
Export of electricity: 7.28 billion kWh (1999).
Electricity import: 4.963 billion kWh (1999)
Agricultural products: grain, potatoes, rapeseed, sugar beets; beef, dairy products; fish.
Export: $50.8 billion (free on board, 2000)
Exports: machinery and tools, meat and meat products, fuel, dairy products, fish, chemicals, ships, wind turbines.
Export partners: EU 66.6% (Germany 20.1%, Sweden 11.7%, UK 9.6%, France 5.3%, Netherlands 4.7%), Norway 5.8%, USA 5, 4% (1999).
Imports: $43.6 billion (free on board, 2000)
Import articles: machinery and equipment, raw materials and semi-finished products for industry, chemicals, grains and foodstuffs, consumer goods.
Import partners: EU 72.1% (Germany 21.6%, Sweden 12.4%, UK 8%, Netherlands 8%, France 5.8%), Norway 4.2%, US 4.5% (1999 ).
External debt: $21.7 billion (2000)
Donor of economic aid: official development support – $1.63 billion (1999).
Currency: Danish krone.
Currency code: DKK.
Exchange rate: DKK/USD – 7.951 (January 2001), 8.083 (2000), 6.976 (1999), 6.701 (1998), 6.604 (1997), 5.799 (1996).
Fiscal year: calendar year.
Telecommunications Telephone lines: 4.785 million (1997).
Mobile cell phones: 1.444 million (1999)
Telephone system: excellent telephone and telegraph service; internal: underground and underwater cables and microwave radio relay communication form a trunk network, 4 cellular communication systems; international: 18 submarine fiber optic cables link Denmark with Norway, Sweden, Russia, Poland, Germany, the Netherlands, Great Britain, the Faroe Islands, Iceland, Canada; ground satellite stations: 6 Intelsat, 10 Eutelsat, 1 Orion, 1 Inmar-sat (Blaavand-Atlantic-East); note – Scandinavian countries (Denmark, Finland, Iceland, Norway and Sweden) share the Danish ground station and Eyck station (Norway) for worldwide access to Inmarsat (1997).
Broadcast stations: AM -2, FM -355, shortwave – 0 (1998).
Radio receivers: 6.02 million (1997)
Television broadcast stations: 26 (and 51 repeaters) (1998).
Televisions: 3.121 million (1997)
Internet Country Code: dk
Internet Service Providers: 13 (2000).
Number of users: 2.3 million (2000).
Transport Railways: total: 2,859 km (508 km privately owned and operated); standard gauge: 2,859 km (1.435 m gauge) (600 km electrified; 760 km dual gauge) (1998).
Roads: total: 71,474 km; paved: 71,474 km (including 880 km of expressways); unpaved: 0 km (1999).
Waterways: 417 km.
Pipelines: for crude oil – 110 km; for oil products – 578 km; for natural gas – 700 km.
Ports and harbours: Obenro, Kolling, Rönne (Bornholm), Vejle, Copenhagen, Odense, Aalborg, Aarhus, Fredericia, Esbjerg.
Merchant navy: total: 342 vessels (displacement 1,000 tons or more) with a total displacement of 6,073,489 gross register tons / 8,027,002 long tons gross tonnage; ships of various types: bulk carriers – 10, cargo ships – 128, chemical tankers – 27, container ships – 76, liquefied gas tankers – 26, livestock ships – 6, oil tankers – 22, railway wagon ships – 1, refrigerated ships -13, ferries -23, coastal passenger ships – 7, specialized tankers – 3; note: some foreign vessels are registered here for ‘flag of convenience’ reasons: Finland 1 (2000 est.).
Airports: 119 (2000 est.).
Airports with paved runways: total: 28; over 3,047 m: 2; from 2438 to 3047 m: 7; from 1,524 to 2,437 m: 4; from 914 to 1523 m:12; less than 914 m: 3 (2000 est.).
Airports with unpaved runways: total: 91; from 1,524 to 2,437 m: 1; from 914 to 1523 m:7; less than 914 m: 83 (2000 est.).
Branches of the Armed Forces: Royal Danish Army, Royal Danish Navy, Royal Danish Air Force, militia.
Enlistment age: 20 years old.
Total Military Manpower: Male 15 to 49: 1,292,619 (2001 est.).
Eligible for military service: men aged 15 to 49: 1,106,094 (2001 est.).
Number of persons reaching military age each year: male: 29,212 (2001 est.).
Military spending in dollar terms: $2.47 billion (1999)
Military spending as part of GDP: 1.4% (1999).
International issues International disputes: Rockall continental shelf dispute with Iceland, Ireland and the UK (Ireland and the UK have an agreement on the boundaries in the Rockall area); a dispute with Iceland over a fishery middle line between Iceland and the Faroe Islands; dispute with Iceland, Great Britain and Ireland over the continental shelf of the Faroe Islands outside the two hundred mile zone.