69%
Exports share of GDP
In 2023, Danish exports accounted for 69 per cent of Denmark’s GDP.
Opgjort pr. 24.05.2024
A strong economy
Being a small country in Northern Europe, Denmark's prosperity has historically depended on maintaining an open economy with significant exports to both Europe and the rest of the world. However, our current economic strength is also founded on decades of prudent financial management, along with a series of successful economic and labour market reforms.
På denne side:
Facts about Danish economy
10.5%
Debt to GDP ratio
By 2023, the Danish government debt corresponded to 10.5 per cent of GDP, well below the European Union's 60 per cent debt threshold.
Opgjort pr. 24.05.2024
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Germany
- 2
Sweden
- 3
The Netherlands
- 4
Norway
- 5
United States
- 6
Great Britain
Diverse and thriving export economy
Denmark is an open economy and has a thriving export sector with a focus on high-value-added goods and services. Key export industries include pharmaceuticals, machinery, renewable energy technologies and food products. In fact, Danish exports are among the most diversified in the world. Nearly half of Denmark’s exports go to our neighbouring countries and the United States – see the list of rankings.
Fostering innovation
Denmark is known for our advanced technology sector and a strong immanent culture of innovation. Danish companies invest heavily in research and development, particularly in areas such as renewable energy, pharma, biotechnology, and information technology.
monetarypolicy
Prudent fiscal and monetary policy
Sound fiscal management
The Danish Government maintains a prudent approach to fiscal policy, characterised by responsible budgeting and low levels of public debt. The Government's fiscal discipline helps ensure stability and resilience in the face of economic shocks, allowing for sustained investments in public services and infrastructure.
Compared to most other developed countries, Denmark has a low level of public debt. At end-2023, the debt-to-GDP ratio was only 10.5 per cent, well below the European Union's 60 per cent debt threshold. This ensures that Denmark has a good credit rating.
Minimal exchange rate risk
The Danish central bank, Danmarks Nationalbank, has ensured a fixed exchange rate towards the euro for more than 40 years. That minimises the exchange rate risk and provides predictability in international trade and investment.
A wealthy nation
Denmark is among the highest-ranking countries in terms of standard of living and education. Both currently and historically, the employment rate has been high due to Denmark’s pioneering role in bringing women to the workforce. The Danish society is characterised by a high degree of social trust, cooperation and very low inequality. This ensures strong social cohesion and contributes to a stable and supportive environment for businesses and employees, fostering innovation and stable economic growth.
