Denmark is a Nordic country with a population of 5.7 million inhabitants and covering a total area of 43,094 square kilometers. The capital of Denmark is Copenhagen, and the currency is Danish kroner.
The economy of Denmark is a modern market economy featuring a high-tech agricultural sector, advanced industry with world-leading firms in pharmaceuticals, maritime shipping, and in 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.
Denmark has one of the world’s highest levels of education. Combined with virtually non-existent corruption, this provides the recipe for a really good investment climate.
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.
Danish nominal GDP was in 2016 at USD 302 billion growing 1.3% compared to 2015. The expansion is expected to continue at similar rates in 2017 and 2018.
The labor market has strengthened since 2013, and unemployment stood at 4.2% in early 2017, based on the national measure. By early 2017, some sectors were experiencing difficulties attracting qualified labor. Productivity growth was significantly below the OECD average from the mid-1990s until 2011, but has increased in recent years. Improvement in productivity is needed to ensure continued growth.
Every year millions of tourists visit Denmark. Some come to see attractions such as Tivoli, the Little Mermaid or Legoland. Others come to enjoy Danish food culture and the New Nordic Cuisine which today dominates the world of gastronomy. And some come to enjoy the Danish countryside with its many thousands of kilometers of coastline. But regardless of why many tourists visit Denmark, studies show that the friendly Danish population is always one of the greatest attractions.
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