!!!Denmark: Economy
This thoroughly modern market economy features a high-tech agricultural sector, advanced industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a net exporter of food, oil, and gas and enjoys a comfortable balance of payments surplus, but depends on imports of raw materials for the manufacturing sector. Danes enjoy a high standard of living and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. An aging population will be a major long-term issue. \\  \\ Denmark is a member of the EU; Danish legislation and regulations conform to EU standards on almost all issues. Despite previously meeting the criteria to join the European Economic and Monetary Union, Denmark has negotiated an opt-out with the EU and is not required to adopt the euro. Within the EU, Denmark is among the strongest supporters of trade liberalization. \\  \\ After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 but, with significant regional differences, have since recovered. Household indebtedness is still relatively high at more than 305% of net disposable income in 2014, while household net worth - from private pension schemes and other assets - amounted to 546% of net disposable income. \\  \\ The global financial crisis exacerbated this cyclical slowdown by increasing domestic borrowing costs and lowering foreign demand for Danish exports. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009. The structural budget deficit has remained below 1% and is estimated at -0.4% in 2016. Denmark is experiencing a lackluster economic recovery, having still not regained the GDP level of 2008. GDP contracted in 2012 and 2013, followed by real growth of 1.3% in 2014, and 1.2% in 2015. The government projects 1.9% growth in 2016, while private sector estimates are about 1% growth. A historically low level of unemployment rose with the economic downturn but the labor market has strengthened since 2013, and unemployment stood at about 4.5% in early 2016, based on the national measure. Productivity growth was significantly below the OECD average in 2012–2014.
!!Economic Facts
||GDP (purchasing power parity)|$264.8 billion (2016 est.) \\ $262.2 billion (2015 est.) \\ $259.6 billion (2014 est.) \\ ''__note__'': data are in 2016 dollars \\ 
||GDP (official exchange rate)|$302.6 billion (2015 est.)
||GDP - real growth rate|1% (2016 est.) \\ 1% (2015 est.) \\ 1.3% (2014 est.)
||GDP - per capita (PPP)|$46,600 (2016 est.) \\ $46,300 (2015 est.) \\ $46,100 (2014 est.) \\ ''__note__'': data are in 2016 dollars \\ 
||Gross national saving|26.3% of GDP (2016 est.) \\ 26.6% of GDP (2015 est.) \\ 27.6% of GDP (2014 est.)
||GDP - composition, by end use|''household consumption'': 47.5% \\ ''government consumption'': 25.6% \\ ''investment in fixed capital'': 18.9% \\ ''investment in inventories'': 0.3% \\ ''exports of goods and services'': 50.8% \\ ''imports of goods and services'': -43.1% (2016 est.) \\ 
||GDP - composition, by sector of origin|''agriculture'': 1.1% \\ ''industry'': 23.4% \\ ''services'': 75.5% (2016 est.) \\ 
||Agriculture - products|barley, wheat, potatoes, sugar beets; pork, dairy products; fish
||Industries|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 eq
||Industrial production growth rate|0.8% (2016 est.)
||Labor force|2.825 million (2016 est.)
||Labor force - by occupation|''agriculture'': 2.6% \\ ''industry'': 20.3% \\ ''services'': 77.1% (2011 est.) \\ 
||Unemployment rate|4.2% (2016 est.) \\ 4.6% (2015 est.)
||Population below poverty line|13.4% (2011 est.)
||Household income or consumption by percentage share|''lowest 10%'': 1.9% \\ ''highest 10%'': 28.7% (2007) \\ 
||Distribution of family income - Gini index|24.8 (2011 est.) \\ 24.7 (1992)
||Budget|''revenues'': $156.9 billion \\ ''expenditures'': $164.5 billion (2016 est.) \\ 
||Taxes and other revenues|51.8% of GDP (2016 est.)
||Budget surplus (+) or deficit (-)|-2.5% of GDP (2016 est.)
||Public debt|39.6% of GDP (2016 est.) \\ 40.2% of GDP (2015 est.) \\ ''__note__'': data cover general government debt and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as int \\ 
||Fiscal year|calendar year
||Inflation rate (consumer prices)|0.4% (2016 est.) \\ 0.5% (2015 est.)
||Central bank discount rate|0.75% (31 December 2011) \\ 0.75% (31 December 2010)
||Commercial bank prime lending rate|3.7% (31 December 2016 est.) \\ 3.42% (31 December 2015 est.)
||Stock of narrow money|$148.1 billion (31 December 2016 est.) \\ $151.9 billion (31 December 2015 est.)
||Stock of broad money|$181.1 billion (31 December 2014 est.) \\ $189.2 billion (31 December 2013 est.)
||Stock of domestic credit|$619.8 billion (31 December 2016 est.) \\ $632.9 billion (31 December 2015 est.)
||Market value of publicly traded shares|$224.9 billion (31 December 2012 est.) \\ $179.5 billion (31 December 2011 est.) \\ $231.7 billion (31 December 2010 est.)
||Current account balance|$20.34 billion (2016 est.) \\ $20.75 billion (2015 est.)
||Exports|$93.6 billion (2016 est.) \\ $95.97 billion (2015 est.)
||Exports - commodities|machinery and instruments, meat and meat products, dairy products, fish, pharmaceuticals, furniture, windmills
||Exports - partners|Germany 17.8%, Sweden 11.6%, US 8.4%, Norway 6.3%, UK 6.3%, Netherlands 4.4%, China 4.2% (2015)
||Imports|$82.29 billion (2016 est.) \\ $85.02 billion (2015 est.)
||Imports - commodities|machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods
||Imports - partners|Germany 20.4%, Sweden 12.3%, Netherlands 8.1%, China 7.3%, Norway 6.1%, UK 4.4% (2015)
||Reserves of foreign exchange and gold|$61.8 billion (31 December 2016 est.) \\ $65.19 billion (31 December 2015 est.)
||Debt - external|$484.8 billion (31 March 2016 est.) \\ $519.8 billion (31 March 2015 est.)
||Stock of direct foreign investment - at home|$135.1 billion (31 December 2016 est.) \\ $133.3 billion (31 December 2015 est.)
||Stock of direct foreign investment - abroad|$242.7 billion (31 December 2016 est.) \\ $239.2 billion (31 December 2015 est.)
||Exchange rates|Danish kroner (DKK) per US dollar - \\ 6.865 (2016 est.) \\ 6.7236 (2015 est.) \\ 6.7236 (2014 est.) \\ 5.6125 (2013 est.) \\ 5.79 (2012 est.)