Denmark is the easiest place in Europe to do business*. Foreign trade increased heavily relative to GDP. The krone and re were introduced in 1875, replacing the former rigsdaler and skilling. They spend about 11 percent of their GDP on health care. [113] Since 1972, the overall energy consumption has dropped by 6%, even though the GDP has doubled in the same period. Retrieved on 28 November 2018", Det danske energiforbrug p rekordlavt niveau, "Dansk Industri til angreb p regeringens grnne afgifter", "EL: Grnne afgifter spnder ben for grn omstilling", Afgifter provenuet af afgifter og moms 20092016, Forbedring af den nationale elprisstatistik for erhverv, "Electricity prices for household consumers (taxes included), first half 2018 (EUR per kWh). [69] Danmarks Nationalbank reacted in various ways, chiefly by lowering its interest rates to record low levels. . How Scandinavian Countries Pay for Their Government Spending [104], In 2017 total output (gross value added) in service industries amounted to 75.2% of total output in Denmark,[6] and 79.9% of all employed people worked here (in 2016). is a net exporter of food, oil, and gas and enjoys a . Peter Bejder and Benjamin Kristensen: Merkantilisme og danske tropekolonier, ca. Among which are the high-performing Danish economy, attractive taxation schemes, flexible labour market, and collaborative work culture. Several reforms of the rights of the unemployed have followed up, partially inspired by the Danish Economic Council. The average for all OECD countries together was 72.1%. There are also income transfers to various groups, such as retired or disabled people, unemployed persons, students, etc. The import of organic products has always been higher than the exports though and reached DK 3.86billion in 2017. Altogether, the amount of revenue from taxes paid in 2017 amounted to 46.1% of the GDP. Denmark - Economy | Britannica The SME portal of the State Secretariat for Economic Affairs, SECO The average marginal tax on personal capital income was 30.7%. Denmark, Norway, and Sweden shouldn't be held up as socialist utopias. Center for Alternativ Samfundsanalyse Centre for Alternative Social Analysis, Economic History Services Encyclopedia: Denmark, Organisation for Economic Co-operation and Development (OECD), Convention on the Organisation for Economic Co-operation and Development, Programme for International Student Assessment, Programme for the International Assessment of Adult Competencies, Trade-Related Aspects of Intellectual Property Rights, Special administrative regions of the People's Republic of China, Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, Patents, trademarks, and industrial design filing activity, Number of broadband Internet subscriptions, https://en.wikipedia.org/w/index.php?title=Economy_of_Denmark&oldid=1152229713, Articles with Danish-language sources (da), Short description is different from Wikidata, Articles containing potentially dated statements from 2015, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0, wind turbines, pharmaceuticals, medical equipment, shipbuilding and refurbishment, iron, steel, nonferrous metals, chemicals, food processing, machinery and transportation equipment, textiles and clothing, electronics, LEGO, construction, furniture and other wood products, wind turbines, pharmaceuticals, machinery and instruments, meat and meat products, dairy products, fish, furniture and design, machinery and equipment, raw materials and semimanufactures for industry, chemicals, grain and foodstuffs, consumer goods, Officially the Republic of China, participates as ", This page was last edited on 28 April 2023, at 23:53.
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