In this economic guide to Denmark we’ll give you an overview of the Danish economy, including the country’s primary imports and exports of goods and services.
Contents
Economy of Denmark
Denmark currently ranks as the 36th largest export economy in the world with annual exports of $101 billion.
It has a negative trade balance of $1.93 billion after deducting imports of $103 billion from its export total.
The GDP of Denmark is $356 billion, which equates to a GDP per capita of $61,350.
Denmark’s Top 5 Commodity Exports
| Commodity | Amount (Annually) |
|---|---|
| Refined Petroleum | $2.75 billion |
| Pig Meat | $2.64 billion |
| Iron Structures | $1.29 billion |
| Crude Petroleum | $1.04 billion |
| Pigs | $1 billion |
Denmark’s Other Notable Exports
- Electric Generating Sets – $2 billion
- Packaged Medicaments – $9.92 billion
- Cheese – $1.73 billion
- Blood, antisera, vaccines, toxins and cultures – $1.59 billion
Top export destinations of Denmark are Germany ($15.5 billion), Sweden ($15.5 billion), the United States ($8.57 billion), United Kingdom ($7.78billion), and Norway ($5.74 billion).
Denmark’s Top Commodity Imports
| Commodity | Amount (Annually) |
|---|---|
| Refined Petroleum | $4.52 billion |
| Crude Petroleum | $2.57 billion |
| Soybean Meal | $688 million |
| Iron Structures | $615 million |
| Sawn Wood | $437 million |
Denmark’s Other Notable Imports
- Cars – $5 billion
- Passenger and Cargo Ships – $3.53 billion
- Packaged Medicaments – $3.32 billion
- Broadcasting Equipment – $1.99 billion
- Computers – $1.62 billion
More Details About Denmark’s Imports/Exports
Let’s get into more details on Denmark’s imports and exports.
Pig Meat
Pig meat accounts for 2.6% of Denmark’s total annual exports and the country is the fourth largest exporter of this commodity, behind the United States (15.8%), Germany (15.5%), and Spain (14.3%).
About 55% of Denmark’s pig meat exports are destined for European destinations with Germany (15.3%) being the biggest importer, followed by Japan, the UK, Poland, and Italy.
Refined Petroleum
Refined petroleum exports account for 2.7% of Denmark’s yearly export totals, and the country has a 0.36% share of a global export market that is worth $753 billion annually.
Sweden imports 41.5% of Denmark’s refined petroleum exports with the rest of its exports being predominantly shipped to European destinations.
Crude Petroleum
Denmark’s crude petroleum exports account for 2.5% of its total annual shipments and it is a minor player with a 0.43% share of a global export market that is worth $1.08 trillion.
Sweden is also the leading importer of Denmark’s crude petroleum shipments and takes 46.5% of the yearly export total.
Pigs
Exports of pigs are worth 1.1% of Denmark’s annual total. With shipments being valued at $1 billion, this makes Denmark the largest exporter with a 25.9% share of a global market that’s worth $3.87 billion.
Interesting Facts About Denmark
- Denmark is an archipelago comprising of over 100 islands, some of them uninhabited.
- The Danish monarchy is the oldest one in the world and has been ruling for more than 1,000 years.
- Denmark has double the number of cars to bikes, with 4.2 million bikes in circulation compared to 1.8 million cars.
All figures based on OEC/IMF 2018 calculations and projections unless otherwise stated.
Regulated Brokers: Where Can I Trade Commodities?
Start your research with reviews of these regulated brokers available in .
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Further Reading
- Commodity.com Guide to Commodity Brokers
- Commodity.com Guide to CFD Brokers
- Guide to Trading Soft Agricultural Commodities
- Crude Oil Trading Guide
