Denmark

Denmark’s market economy features efficient markets, above average European living standards, and high amount of free trade. Denmark rank 16th in the world in terms of GDP (PPP) per capita and rank 5th in nominal GDP per capita. According to World Bank Group, Denmark has the most flexible labor market in Europe; the policy is called flexicurity. It is easy to hire, fire, and find a job. Denmark has a labor force of about 2.9 million. Denmark has the fourth highest ratio of tertiary degree holders in the world. GDP per hour worked was the 10th highest in 2007. Denmark has the world’s lowest level of income inequality, according to the UN, and the world’s highest minimum wage, according to the IMF. As of June 2009 the unemployment rate is at 6.3 percent, 2.6 percentage points under the EU average at 8.9 percent.

Demographic Data

Economic Data

Cultural & Other Data

GDP (PPP, $bn)

204.9

Capital

Copenhagen

Area (sq. km.)

43,094

GDP Real

Growth (%)

-0.6

Other Large Cities

Arhus, Odense, Aalborg

Population (million)

5.5

PerCap GDP ($)

37,400

Primary Language

Danish

Population

Growth %

0.28

Central Bank

Discount Rate (%)

4

Urban

Population %

87

% Population

Under 15yrs

18.1

Inflation Rate%

3.5

Urban Growth %

0.5

Population below

poverty line (%)

NA

Unemployment%

2

Literacy

(% of population)

99

Agricultural Workers

(% of population)

1

Foreign Direct

Investment($bn)

133.6

Education spending

as % of GDP

8.3

Industrial Workers

(% of population)

26

Debt-External

($bn)

492.6

CPI Score

(1-10)*

9.3

Service Workers

(% of population)

73

Exports ($bn)

119.5

Corporate Income Tax %

25

Labor Force (mil)

2.86

Imports ($bn)

120.7

Ease of Doing

Business Ranking **

5

 

CURRENCY EXCHANGE RATE

05/28/09 $1 = 5.37 DKK

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