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Denmark Snapshot - PESTLE, SWOT, Risk and Macroeconomic Analysis report is designed to provide in-depth information about Denmark including it’s PESTLE (political, economic, social, technological, legal and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and country risk analysis backed by macroeconomic data.
Denmark is a sovereign state in Northern Europe, located south-west of Sweden, south of Norway, and bordered to the south by Germany. The Kingdom of Denmark has two autonomous constituent countries in the North Atlantic Ocean, the Faroe Islands and Greenland. The Kingdom of Denmark is a unitary constitutional monarchy with Margrethe II as queen regnant, organized in a parliamentary democracy.
Denmark is estimated to have population of 5.934 million in the year 2023 and expected to reach 6.026 million by 2027, increasing at a CAGR of 0.39%.
Denmark’s real gross domestic product (GDP) was DKK 2079.3 billion in 2020 and while recovering from the COVID-19 impact it increased by 4.63% to be around DKK 2180.3 billion in 2021. It is further expected to increase by 1.75% and reach DKK 2419.241 billion by 2027.
Denmark’s unemployment rate was 5.642% of total labor force in 2020. Despite slowdown in global economic activity due to COVID-19 pandemic, the unemployment in Denmark decreased by 11% and reached 5.083% in 2021. Unemployment is further estimated to decrease by a CAGR of 0.27% and reach 5% of total labor force in Denmark by 2027.
Denmark’s per capita GDP was estimated at USD 65,713.412 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 69,845.087 for the year 2022.
The output gap for Denmark in 2022 was in positive 1.422% of the potential GDP which indicates that Denmark economy was overperforming.
In 2022, Denmark government’s revenue was DKK 1408.839 billion whereas the expenditure was DKK 1376.982 billion. This resulted in Denmark government’s net lending / borrowing positive at DKK 31.857 billion in 2022 indicating that enough financial resources were made available by the Denmark government to boost economic growth.
The current account balance for Denmark was estimated to be positive at USD 31.79 billion for the year 2022 and is expected to further increase at a CAGR of 1.51% and reach positive USD 34.267 billion by 2027. This positive current account balance indicates that Denmark will remain a net lender to the rest of the world till 2027.
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