Denmark

Denmark

Pratik Durge
Pratik Durge

Country Expert
   

Denmark Statistics

The Economy of Denmark is a modern mixed economy with comfortable living standards, a high level of government services and transfers, and a high dependence on foreign trade. Denmark has the 39th largest national economy in the world measured by nominal gross domestic product (GDP) and 60th largest in the world measured by purchasing power parity (PPP).
On the other hand, Sweden and Norway share its north eastern and northern borders across the North Sea. Regardless of its small size and population, Denmark holds an important role in the European history dating back to the Iron Age.
$ 1 Crores
GDP in USD trillion
1 Lakhs
Population (2019)
1
Area ( km. sq. )
Import Of Denmark

In 2018 Denmark imported a total of $103B, making it the number 35th trade destination in the world..
Main Import Countries

Export Of Denmark

In 2018 Denmark exported a total of $101B, making it the number 37th exporter in the world.
Main Export Countries

Major Sectors

Agriculture Tourism Energy Transportation Manufacturing

More than 60 percent of the total area of Denmark is used for agricultural purposes. This allows it to produce two times more food than its total national food requirements. Denmark produces a variety of food products for both domestic use and exports including vegetables, seeds, grass, milk, meat and organic products. The significance of this industry can be understood with the fact that it accounts for more than twenty percent of total commodity exports for Denmark.
The Danish agricultural industry is historically characterized by freehold and family ownership. Regarding vegetable production, Denmark is a leading producer of grass-, clover- and horticultural seeds. Within animal husbandry, it includes dairy and beef cattle, pigs, poultry and fur animals (primarily mink) – all sectors that produce mainly for export.

The Tourism Industry of Denmark contributes around 125 billion dollars of revenue in the country's economy. Rich history, natural beauty, sandy beaches and countless tourist attractions attract millions of visitors to Denmark every year. The country not only receives visitors from Germany, Netherlands, Sweden, and Norway but also welcomes global tourists as one of the top travel destinations in the world.

Denmark’s diverse energy sector plays an important role in the country’s economy. It is believed that coal power fulfils 21.6% of the country’s total energy requirements. Also, Denmark ranks 32nd amongst the countries that export crude oil, and statistics suggest that crude oil contributes a 33.4% share to cover Denmark’s energy demands. At the same time, 18% of energy supply comes from natural gas. Remaining 27% energy demand is supplied by renewable sources. This includes biomass, solar, wind power, nuclear and geothermal energy projects. Effective energy policies also helped Denmark to significantly reduce the country’s energy consumption. These policies and strategies made an overall 6% decrease in total energy consumption in Denmark.
Vestforbrænding in Glostrup Municipality operates Denmark's largest incinerator, a cogeneration plant which supplies electricity to 80,000 households and heating equivalent to the consumption in 63,000 households (2016). Amager Bakke is an example of a new incinerator being built.

Denmark has made major investments in the transportation sector. It has developed a modern transport network of motorways and railways. It has three major airports, namely Copenhagen Airport, Billund Airport and Aalborg Airport that serve more than 33 million passengers per year. On the other hand, five other airports provide better connectivity throughout the country. Other than the land and air routes, the country has also developed a number of ports that not only serve around fifty million passengers per year but also handle more than 100 million tons of cargo shipments each year.

In 2017 total output (gross value added) in manufacturing industries amounted to 14.4% of total output in Denmark. 325,000 people or a little less than 12% of all employed persons worked in manufacturing (including utilities, mining and quarrying) in 2016. Main sub-industries are manufacture of pharmaceuticals, machinery, and food products.
90% of the vehicles manufactured in Spain are shipped abroad to 130 Countries. The Spanish Auto-Parts Industry is another key factor to the success of the automotive sector. A thousand of companies belonging to 720 entrepreneurial groups are located in Spain, providing a fast and customized service to manufacturing plants. This industry turns over more than 27.500 million Euros, 60% belonging to exports.

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Latest News

Trade Fair Exhibition

Part of the
Copenhagen Fashion Week (CFW)

Date : 07-08 Aug 2020.
Place : Copenhagen, Denmark.

Image_21
Tex-Style

Date : 10-08 Aug 2020.
Place : Vejle, Denmark.

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