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Main article: Denmark
Financial system
Sovereign Wealth Fund
GDP
2023: Recession as GDP declines in Q2 and Q3
According to the results of the third quarter of 2023, the Danish economy plunged into recession amid the fall of the pharmaceutical industry and attempts to put pressure on Russia.
2022
Industry's share of GDP is less than 12.5%
GDP size - $0.39 trillion
2021
GDP size - $0.4 trillion
Agriculture's share of GDP is less than 2%
Inflation
2022
Inflation in November - 10.1%
Inflation in July - 8.7%
Inflation hit 6.7% in April - the highest level since 1984 due to rising energy prices
Denmark's April 2022 inflation rate rose to its highest level since 1984 as electricity and heating prices jumped.
Inflation in March - 5.4% - a record since 1985.
March inflation in 2022 accelerated to 5.4%, the highest level since 1985.
After a decade in which price increases were less than 2% a year, consumers have to deal with significant growth and will have to get used to the worst. Inflation in the country has yet to peak, buoyed by strong demand for the country's goods and services abroad and continued wage growth, said Bjorn Tangaa Sillemann, senior analyst at Danske Bank A/S.
January consumer price rise of 4.3%
Consumer prices in January 2022 in Denmark increased by 4.3% compared to a year earlier. Commodity prices jumped 6.6%, the biggest year-on-year increase in any month since 1985.
National Bank of Denmark
Main article: National Bank of Denmark
Non-financial debt
2022: Aggregate non-financial debt
National debt
The ratio of public debt to the country's GDP
2023: State debt - 30% of GDP
2017: State debt - 35% of GDP
Public debt per capita
Salaries
2020: Companies are compensated for up to 90% of salaries and rent
In early April 2020, it became known that the Danish government will compensate rent to affected companies, as well as from 75 to 90% of workers' wages over the next three months, provided that companies do not massively lay off people.
All political parties merged with trade unions and employer associations. The $2 trillion package expanded the standard unemployment insurance system and created a cash pool that should help affected companies.
Salary retention and rental assistance are collectively estimated at 42.6 billion Danish kronor (about $6.27 billion) minus the unemployment insurance system. The goal of such an approach is to prevent painful mass unemployment, since in such conditions enterprises will be able to keep their workers, and not try to lay them off, in order to then hire again after the crisis. As soon as the situation normalizes, companies will be able to quickly resume their activities, restoring economic growth.
One of the reasons the Danes were able to quickly raise huge sums for social support is the already developed social safety net. In 2018, taxes collected by the Danish government accounted for 49% of the country's annual output. For comparison, in the Netherlands this figure was 39%, in the UK - 34%, and in the USA only 24%. People accept an extremely high tax burden in exchange for benefits such as national health care, free public education, protection for people who lose their jobs.
 | It soon became clear that we were in an exceptional situation when it was necessary to propose exceptional initiatives very quickly, "said Carl-Johan Dalgaard, an economist at the University of Copenhagen and chairman of the Danish Economic Council, which advises politicians. - If you support companies and thereby reduce the risk of bankruptcies and layoffs, this will accelerate the return to normal life.[1] |  |
2017
Labour market
2022: Proportion of workers aged 65 or over - above 10%
Unemployment
2023: Youth unemployment - 9.3%
2022: Unemployment rate - 4.5%
2020: Unemployment rate - 6.2%
Power
2024: Denmark launches world's first molten salt energy storage
At the end of April 2024, the Danish company Hyme Energy launched the world's first clean energy storage platform using molten salts. The project was named Molten Salt Storage, or MOSS. Read more here.
2022
Share of solar and wind power - 51.9%
Rise in electricity prices due to pressure on Russia
from
2021: Renewable energy is the main source of energy in the country
2020: Energy consumption per capita
and
Agriculture
2019: Low use of pesticides in agriculture
4 in the world for potato production per capita
1. Belarus - 631.3 kg per 1 person
2. Ukraine - 487.4 kg
3. Netherlands - 384.8 kg
4. Denmark - 343.3 kg
5. Belgium - 299.2 kg
6. Latvia - 251.3 kg
7. Kyrgyzstan - 230 kg
8. Poland - 229.8 kg
9. Russia - 216.8 kg
10. Kazakhstan - 208.5 kg
Consumption
Cars
2022: Minimum age to drive - 17
2018: Number of cars per 1000 people
Meat
2023: Fish consumption is higher than meat consumption
2019: Pork is the most consumed type of meat
Beer
2019: Beer consumption in litres per year per person
Tea
2018: Per capita tea consumption per kg per year
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Milk
2018: Milk consumption in litres per year per person
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Alcohol market
2018: Minimum age to purchase alcoholic beverages
Trade
2022
Germany is the largest export destination
Trade deficit with China
2019: Computer Device Exports
Tourism
2019: More than 30% of the population went on tourist trips. Spain is the most popular country
2018: Tourism revenue
Transport
- Danske Statsbaner (DSB) - Railway Company
- Banedanmark (Danish Railways)
Bankruptcies
2023: The rise of bankruptcies due to the failure of pressure on Russia
R&D
2020: R&D spending - $7.9 billion
Food industry
2021: Cheese production - 78kg per capita
Notes
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