Economy Of Denmark - Denmark Information

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Economy Of Denmark
Denmark Information - Country Guides

Economy overview	This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, and high dependence on foreign trade. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Government objectives include streamlining the bureaucracy and further privatization of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic and Monetary Union (EMU), but Denmark has decided not to join 12 other EU members in the euro; even so, the Danish Krone remains pegged to the euro. Given the sluggish state of the European economy, growth in 2003 was a mere 0.3%.
GDP	purchasing power parity - $167.2 billion (2004 est.)
GDP - real growth rate	0% (2004 est.)
GDP - per capita	purchasing power parity - $31,100 (2004 est.)
GDP - composition by sector	agriculture: 2% industry: 22.1% services: 75.9% (2004 est.)
Investment gross fixed	19.9% of GDP (2004 est.)
Population below poverty line	NA
Household income or consumption by percentage share	lowest 10%: 2% highest 10%: 24% (2000 est.)
Distribution of family income - Gini index	24.7 (1992)
Inflation rate consumer prices	2.1% (2004 est.)
Labor force	2.863 million (2004 est.)
Labor force by occupation	agriculture 4%, industry 17%, services 79% (2002 est.)
Unemployment rate	6.1% (2004 est.)
Budget	revenues: $118.5 billion expenditures: $116 billion, including capital expenditures of $500 million (2004 est.)
Public debt	45% of GDP (2004 est.)
Agriculture products	barley, wheat, potatoes, sugar beets; pork, dairy products; fish
Industries	food processing, machinery and equipment, textiles and clothing, chemical products, electronics, construction, furniture and other wood products, shipbuilding, windmills
Industrial production growth rate	0.3% (2004 est.)
Electricity production	35.47 billion kWh (2001)
Electricity production by source	fossil fuel: 82.7% hydro: 0.1% other: 17.3% (2001) nuclear: 0%
Electricity consumption	32.41 billion kWh (2001)
Electricity exports	8.775 billion kWh (2001)
Electricity imports	8.199 billion kWh (2001)
Oil production	346,200 bbl/day (2001 est.)
Oil consumption	218,000 bbl/day (2001 est.)
Oil exports	332,100 bbl/day (2001)
Oil imports	195,000 bbl/day (2001)
Oil proved reserves	1.23 billion bbl (1 January 2002)
Natural gas production	8.38 billion cu m (2001 est.)
Natural gas consumption	5.28 billion cu m (2001 est.)
Natural gas exports	3.1 billion cu m (2001 est.)
Natural gas imports	0 cu m (2001 est.)
Natural gas proved reserves	81.98 billion cu m (1 January 2002)
Current account balance	$6.397 billion (2004 est.)
Exports	$64.16 billion f.o.b. (2004 est.)
Exports commodities	machinery and instruments, meat and meat products, dairy products, fish, chemicals, furniture, ships, windmills
Exports partners	Germany 18.7%, Sweden 12.6%, UK 8.5%, US 6.2%, Norway 5.7%, France 5.1%, Netherlands 4.7% (2003)
Imports	$54.47 billion f.o.b. (2003 est.)
Imports commodities	machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods
Imports partners	Germany 23.1%, Sweden 13%, UK 7%, Netherlands 6.9%, France 4.9%, Norway 4.5%, Italy 4.1% (2003)
Reserves of foreign exchange gold	$37.98 billion (2003)
Debt external	$21.7 billion (2000)
Economic aid recipient
Currency	Danish krone (DKK)
Currency code	DKK
Exchange rates	Danish kroner per US dollar - 6.5877 (2003), 7.8947 (2002), 8.3228 (2001), 8.0831 (2000), 6.9762 (1999)
Fiscal year	calendar year

Danish Flag Map Of Denmark

Economy Of DenmarkDenmark Information - Country Guides

Economy Of Denmark
Denmark Information - Country Guides