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Economy of Denmark

Denmark is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, Denmark is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, Denmark exports around $106 billion and imports roughly $98.45 billion. 5.2% of population in the country are unemployed. The total number of unemployed people in Denmark is 299,227. In Denmark, 13.4% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Denmark is low, indicating that it has a stable economy. Investors should consider Denmark to be a safe location for investments and other financial ventures. Government expenditure on education is 7.8% of GDP. The Gini Index of the country is 24.8. Denmark is experiencing high equality. Differences in income among citizens are only mildly significant. Denmark has a Human Development Index (HDI) of 0.9. Denmark has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Denmark is 1.15. Due to strong law enforcement presence and high social responsibility, Denmark is very safe by international standards. The strength of legal rights index for Denmark is 8. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.

Currency

The currency of Denmark is Danish krone. The plural form of the word Danish krone is kroner. The symbol used for this currency is kr, and it is abbreviated as DKK. The Danish krone is divided into Ore; there are 100 in one krone.

Credit rating

The depth of credit information index for Denmark is 6, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Denmark has a credit rating score of AAA, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Denmark has a credit rating score of AAA, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Denmark has a credit rating score of Aaa, and the prospects of this rating are stable.

Central bank

The prime lending rate of Denmark's commercial banks is 3.9. In Denmark, the institution that manages the state's currency, money supply, and interest rates is called National Bank of Denmark. Locally, the central bank of Denmark is called Danmarks Nationalbank. The average deposit interest rate offered by local banks in Denmark is 0.5%.

Public debt

Denmark has a government debt of 0% of the country's Gross Domestic Product (GDP).

Tax information

The corporate tax in Denmark is set at 22%. Personal income tax ranges from 29.68% to 47.794%, depending on your specific situation and income level. VAT in Denmark is 25%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Denmark is $250676 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Denmark was last recorded at $44 million. PPP in Denmark is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Denmark is 336,701 billion. Based on this statistic, Denmark is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Denmark. The Gross Domestic Product (GDP) per capita in Denmark was last recorded at $59 million. The average citizen in Denmark has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Denmark averaged 1.5% in 2014. According to this percentage, Denmark is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Denmark.

Industry

Major industries in the country are iron, steel, nonferrous metals, chemicals, food processing, machinery and transportation equipment, textiles and clothing, electronics, construction, furniture and other wood products, shipbuilding and refurbishment, windmills, pharmaceuticals, medical equipment. The total labor force of Denmark is 3,030,480 people, wherein 5.2% of population in the country are unemployed. The total number of unemployed people in Denmark is 299,227. The Industrial Production growth rate of Denmark is 0.4%.To read more about industrial information within Denmark click on industry of Denmark.

Agriculture

There are 22295 km2 of arable land in Denmark, and it comprises 52% of the country's total territory. There are 22376 km2 of cultivated land in Denmark. The country's major agricultural crops and products are barley, wheat, potatoes, sugar beets, pork, dairy products, fish.To read more about agriculture click on agriculture of Denmark.