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.
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
|Refined Petroleum||$2.75 billion|
|Pig Meat||$2.64 billion|
|Iron Structures||$1.29 billion|
|Crude Petroleum||$1.04 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
Denmark’s Top Commodity Imports
|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.
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 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.
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.
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.
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