Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S. market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade agreements.
  • Denmark is a constitutional monarchy which shares a southern border with Germany and is connected by bridge to southern Sweden.  With a total area of 43,096 km.sq (16,640 mi.sq), it is slightly smaller than Vermont and New Hampshire combined.  The total population in 2017 was 5.7 million people.  The country has been a member of the European Union (EU) since 1973.
  • Denmark is a rich, modern society with state-of-the-art infrastructure and distribution systems, a highly skilled labor force, and a central location that makes it an excellent distribution point for the Scandinavian, Northern European, and Baltic markets.
  • The economy displays a number of strengths.  The “flexicurity” system helps adjust to shocks while limiting the social cost of unemployment and the risk that it could become entrenched.  The social welfare system ensures low poverty and low inequality.
  • Denmark’s fiscal position is relatively sound, recovering well from the global financial crisis.  Denmark entered the crisis in a strong position and the budget deficit remained moderate both compared to Denmark’s past experience and to other OECD countries.  Thus, it has been able to maintain a sizable current account balance and bring the budget surplus up to 1.0% of GDP in 2017.
  • Although GDP per capita has still not entirely caught up with pre-crisis levels, Denmark has achieved and is projected to maintain strong economic growth in 2018 and 2019, aided by rising private consumption and foreign demand.
  • Denmark’s standard of living is among the highest in the world with a GDP per capita of USD 50,564 in 2017.
    • Denmark is a firm advocate of liberal trade and investment policies and actively encourages foreign investment. 
    • There are more than 550 American subsidiaries established in Denmark and a strong American Chamber of Commerce with approximately 282 members. The American Chamber of Commerce in Denmark has recently been merged with Danish American Business Forum, which partly explains the recent growth in members.
    • Political and commercial relations with the United States are excellent.  The United States is Denmark's largest trading partner outside the EU, with almost a 10% share of total Danish export.
    • Denmark’s major imports from the United States are industrial machinery, capital equipment, computers and telecom products, software, aircraft, and scientific instruments.  Other important U.S. exports to Denmark are military equipment, chemicals and pharmaceuticals, tobacco, wine, fresh vegetables, nuts, and forest products.
    • Imports of goods and services in Denmark, % of GDP (46.8%) in 2016 (Source: Statistics Denmark)
      • Goods (% of total): 28.3 %
        • Main Imports (% of total goods import)
          • Machinery (excl. transport equipment): 22.8%
          • Manufactured goods and articles: 32.0%
          • Live animals, food, beverages and tobacco: 13.8%
          • Chemicals and related products: 12.5%
      • Services (% of total): 18.5%
        • Main imports (% of total service import)
          • Sea transport: 36.3%
          • Travels: 16.5%

          • Telecommunications, computer and information services: 7.0%

          • Air transport: 5.2%
    • American-owned firms play an important role in Denmark. The largest share of U.S. investments go to the software, information, and communications sectors. American firms are also notably present in business and financial services, pharmaceuticals, and offshore oil and gas exploration and production. 
    • The four main Nordics - Denmark, Finland, Norway, and Sweden – are advanced, high income, and highly connected countries.  While each country has their own unique market and characteristics, there are certain synergies that tie together these highly innovative marketplaces.  With an aggregate GDP of 1.69 USD trillion and combined population just shy of 26 million people, the Nordics are of genuine interest to a number of U.S. companies with products, technologies and services that are appropriate.


    Market Fact Sheet on Denmark  


     

    Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.