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Economy of Denmark

Economy of Denmark
National Bank (central bank) of Denmark.
CountryDenmark
Width150
CaptionNational Bank (central bank) of Denmark.
CurrencyDanish krone (DKK, kr)
Yearcalendar year
OrgansEU, OSCE, WTO, OECD and others
Rank46
Gdp$313.825 billion (2010 forecast) 
Growth-4.9% (2009)
Per Capita$56,790 (2010 forecast) (nominal; 5th) $36,336 (2010 forecast) (PPP; 17th)
Sectorsagriculture: 4.6%; industry: 30.7%; services: 64.7% (2009 est.)
Inflation1.3% (2009)
PovertyN/A
Edbr6th
Gini24.7 (List of countries)
Labor2.92 million (2009)
Occupationsagriculture: 2.5%; industry: 20.2%; services: 77.3% (2005 est.)
Unemployment4.1% (February 2011)
Average Gross Salary4,047 - / 5,464 $, monthly (2006)
Average Net Salary2,390 - / 3,226 $, monthly (2006)
Industriespetroleum and gas, iron, steel, nonferrous metals, chemicals, food processing, machinery and transportation equipment, textiles and clothing, electronics, construction, furniture and other wood products, shipbuilding and refurbishment, windmills, pharmaceuticals, medical equipment
Exports$91.49 billion (2009 est.) 33rd
Export-goodsmachinery and instruments, meat and meat products, dairy products, fish, pharmaceuticals, fashion apparel, furniture, windmills, Christmas trees, potted plants, mink and fox skin, salt, various specialty niche products
Export-partnersGermany 17.8%, Sweden 14.5%, United Kingdom 8.1%, Norway 5.7%, United States 5.4%, Netherlands 4.8%, France 4.7% (2008)
Imports$84.74 billion (2009 est.)
Import-goodsmachinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods
Import-partnersGermany 21.6%, Sweden 14.4%, Netherlands 7.1%, Norway 6.0%, China 5.4%, United Kingdom 5.3%, France 4.8%, Italy 4.1% (European Union total: 72.6%) (2008 est.)
Debt11% of GDP (2008)
Gross External Debt$607.4 billion (30 June 2009)
Revenue$175.4 billion (2009 est.)
Expenses$175.6 billion (2009 est.)
ReservesUS$86.560 billion (March 2011)
CreditAAA (Domestic)
AAA (Foreign)
AAA (T&C Assessment)
(Standard & Poor's)
AidODA, $2.13 billion (2005)
Cianameda

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With very few natural resources, the neoliberal economy of Denmark relies almost entirely on human resources. The service sector makes up the vast amount of the employment and economy. Its industrialised market economy depends on imported raw materials and foreign trade. Within the European Union, Denmark advocates a liberal trade policy. Its standard of living is average among the Western European countries - and for many years the most equally distributed as shown by the Gini coefficient - in the world, and the Danes devote 0.8% of Gross National Income (GNI) to foreign aid. It is a society based on consensus (dialogue and compromise) with the Danish Confederation of Trade Unions and the Confederation of Danish Employers in 1899 in Septemberforliget (The September Settlement) recognising each others right to organise, thus, negotiate. The employer's right to hire and fire their employees whenever they find it necessary is recognised.

Denmark produces oil, natural gas, wind- and bio-energy. Its principal exports are machinery, instruments and food products. The US is Denmark's largest non-European trading partner, accounting for around 5% of total Danish merchandise trade. Aircraft, computers, machinery, and instruments are among the major US exports to Denmark. There are several hundred US-owned companies in Denmark, some of them just registered for tax purposes, which is beneficial for holding companies. Among major Danish exports to the U.S. are industrial machinery, chemical products, furniture, pharmaceuticals, lego and canned ham and pork.

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Climate change's impacts 'limited' - The Copenhagen Post Tweet this news
The Copenhagen Post--Apparently, -Denmark's- capacity to adjust to climate changes makes it less vulnerable, whereas Bangladesh, with an -economy- highly dependent on agriculture, ... - Date : Tue, 26 Oct 2010 12:02:12 GMT+00:00
Iran, Denmark mull expansion of ties - Press TV Tweet this news
Press TV--"-Denmark- is one of Iran's longtime trade partners and we are keen to expand our cooperation and ties with the state, particularly in the -economy- sector," ... - Date : Tue, 26 Oct 2010 06:30:22 GMT+00:00
Prosperity Index Shows That Democracy Still Works Best - Forbes (blog) Tweet this news
Forbes (blog)--Most countries possess powerful niches that drive their -economies- and promote exports to developing countries. These include green technology (-Denmark-), ... - Date : Tue, 26 Oct 2010 13:58:33 GMT+00:00
Wisemen Raises Denmark's 2010 Growth Outlook - RTT News Tweet this news
RTT News--(RTTNews) - -Denmark's- Economic Council, headed by four independent economists or wisemen, has raised the -economy's- growth forecast for this year to 2.2% ... - Date : Tue, 26 Oct 2010 14:20:46 GMT+00:00
Online sales to lift European retail growth this Christmas - expressandstar.com Tweet this news
expressandstar.com--Although the -economies- in -Denmark- and Norway are generally considered to be doing relatively well at the moment, both are predicted to experience a drop in ... - Date : Tue, 26 Oct 2010 15:31:56 GMT+00:00
More 'Green Jobs' Success for Obama Models - American Spectator (blog) Tweet this news
American Spectator (blog)---...- on his claim that Spain was a model of success for centrally planning the 'green' -economy-, on his stump speech he simply swapped out Spain for -Denmark-. ... - Date : Tue, 26 Oct 2010 15:48:38 GMT+00:00

Employment :
Year GDP
in billions of USD PPP
% GDP Growth
2002 166.876 0.5
2003 170.798 0.7
2004 178.477 2.4
2005 187.721 3.1
2006 195.581 3.2
2007 212.404 1.8

Member states of the European Union

Austria * Belgium * Bulgaria * Cyprus * Czech Republic * Denmark * Estonia * Finland * France * Germany * Greece * Hungary * Ireland * Italy * Latvia * Lithuania * Luxembourg * Malta * Netherlands * Poland * Portugal * Romania * Slovakia * Slovenia * Spain * Sweden * United Kingdom |

Organisation for Economic Co-operation and Development (OECD)

Australia * Austria * Belgium * Canada * Chile * Czech Republic * Denmark * Finland * France * Germany * Greece * Hungary * Iceland * Ireland * Italy * Japan * Luxembourg * Mexico * Netherlands * New Zealand * Norway * Poland * Portugal * Slovakia * South Korea * Spain * Sweden * Switzerland * Turkey * United Kingdom * United States

Lists of countries by financial rankings

TradeAccount balance (% of GDP) * Exports (per capita) * Imports
InvestmentFDI received * FDI abroad * GFI
FundsForex reserves * Gold reserves * Sovereign wealth funds * Pension funds
Budget and debtGovernment budget * External debt * Public debt
Income and taxesPersonal income * Tax rates * Tax revenue * Wage (Average * Minimum)
BankingCentral bank interest rate * Commercial bank prime lending rate
CurrencyInflation rate * Exchange rates to US$

Lists of countries by GDP rankings

NominalPer capita * Past * Future (per capita) * Sector composition
Purchasing power parity (PPP)Per capita * Per hour * Per person employed * Past * Future (per capita)
GrowthReal * Per capita * 1990-2007 growth * Industrial growth
GNINominal * PPP
Countries by regionAfrica (nominal * PPP) * Latin America & Caribbean (nominal * PPP) * North America (nominal * PPP) * South America (nominal * PPP) * Arab League * Asia * Asia & Pacific (nominal * nominal per capita * PPP) * CIS * Europe (nominal * nominal per capita * PPP * PPP per capita) * Oceania
Subnational divisionsArgentine provinces * Australian states & territories * Brazilian states * Canadian provinces and territories * Chilean regions (per capita) * Chinese administrative divisions (per capita) * Indian states * Mexican states * Russian federal subjects * South Korean regions per capita * U.S. states (per capita)

Economies of the dependencies of European Union states

DenmarkFaroe Islands * Greenland
FranceFrench Polynesia * Mayotte * New Caledonia * Saint Barthélemy * Saint Martin * Saint Pierre and Miquelon * Wallis and Futuna *
NetherlandsAruba * Netherlands Antilles (Bonaire, Curaçao, Saba, Sint Eustatius, Sint Maarten)
United KingdomCrown dependencies: Guernsey * Isle of Man * Jersey



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