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Economy and Banking Sector of Denmark

National Currency

Danish Krone (DKK)

Exchange Rate

1 EUR = 7.467 DKK (2019-09-16)

During the last 11 years EURDKK exchange rate was within the range 7.4319 - 7.4697, reaching its maximum in Mar 2015 and falling to its minimum in May 2012.

Euro to Danish krone (EURDKK).

Chart 1. Euro to Danish krone (EURDKK). Source: ECB.

GDP

Nominal GDP (2018)
297.6 bln EUR  (+0.03%)
Nominal GDP per Capita (2018)
51,400 EUR  (+0.03%)
Real GDP Growth (2018)
1.4 %  (2017: 2.1 %)

According to Eurostat, nominal GDP of Denmark in 2018 was 297.6 bln EUR.

Denmark underperforms the European Union in terms of real GDP growth with the average annual differential coming to -0.2% over the past 10 years (2008 - 2018). In 2018 real GDP growth was 1.4% which was below the Euro Area average (1.9%) and below the European Union average (2.0%). Real GDP growth in 2019 - 2024 are IMF's estimates.

Real GDP Growth in Denmark.

Chart 2. Real GDP Growth in Denmark. Source: Eurostat, International Monetary Fund.

In 2018, nominal GDP per capita in Denmark was 51,400 EUR.

Denmark has an above-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, exceeded that of the European Union by 19.1% over the past 10 years (2007 - 2017). GDP per capita at PPP in 2018 - 2024 are IMF's estimates.

GDP Per Capita at Purchasing Power Parity in  Denmark; European Union = 100.

Chart 3. GDP Per Capita at Purchasing Power Parity in Denmark; European Union = 100.

Inflation Rate

CPI, MoM (Mar 2019)
0.1 %  (Feb 2019: 0.5 %)
CPI, YoY (Mar 2019)
1.2 %  (Feb 2019: 1.1 %)
CPI, Year Average (2018)
0.7 %  (2017: 1.1 %)

According to Eurostat, inflation rate in Denmark in 2018 expressed as annual percentages of average consumer prices was 0.7% which was below the Euro Area average (1.8%) and below the European Union average (1.9%). Inflation rates in 2019 - 2024 are IMF's estimates.

Inflation Rate in Denmark.

Chart 4. Inflation Rate in Denmark. Source: Eurostat, International Monetary Fund.

Unemployment Rate

Unemployment Rate (2018)
5.0 %  (2017: 5.7 %)

According to Eurostat, unemployment rate in Denmark in 2018 was 5.0% which was below the Euro Area average (8.2%) and below the European Union average (6.8%). Unemployment rates in 2019 - 2024 are IMF's estimates.

Unemployment Rate in Denmark.

Chart 5. Unemployment Rate in Denmark. Source: Eurostat, International Monetary Fund.

Government Bond Yield

Government Bond Yield (Mar 2019)
0.16 %  (Feb 2019: 0.05 %)

According to Eurostat, government bond yield in Denmark in March 2019 was 0.16%, compared to 0.05% in February 2019.

Government bond yield of Denmark.

Chart 6. Government bond yield of Denmark. Source: Eurostat.

Credit Ratings (as of May 2018)

Fitch
AAA (highest credit quality), outlook stable
Moody's
Aaa (prime), outlook stable

Denmark has sovereign credit ratings assigned by Fitch and Moody's: the rating set by Fitch is AAA (highest credit quality), outlook stable; the rating set by Moody's is Aaa (prime), outlook stable.