Today, let's delve into the intricacies of the Danish economy, exploring its unique features, key sectors, and the factors that contribute to its economic resilience and success.
Does Denmark have a good economy?
Denmark maintains an elevated quality of life, boasting one of the world's highest per capita gross national products and well-established social services. The economic foundation relies predominantly on service industries, trade, and manufacturing, with agriculture and fishing involving only a small fraction of the population.
Is Denmark having command or liberal market economy?
Denmark operates as a capitalist economy with a robust emphasis on free-market principles Recognized as one of the premier global business hubs, Denmark consistently earns high rankings for its business-friendly environment.
Informal economy in Denmark
The informal economy, also known as the informal sector or shadow economy, encompasses economic activities that are not officially subjected to taxation or monitoring. In Denmark, the estimated size of the informal economy is around 15.2%, equivalent to approximately $53 billion when considering GDP purchasing power parity levels.
Education economy in Denmark
Denmark allocates a greater proportion of its national wealth to educational institutions compared to the average among OECD countries. In 2018, the country invested 5.2% of its GDP in primary to tertiary educational establishments, surpassing the OECD average by 0.3 percentage points. Denmark's commitment to education is evident across various levels, with the nation dedicating a similar share of GDP as the OECD average at non-tertiary levels and a higher share at the tertiary level.
Economy in Denmark vs Sweden
In 2021, Denmark secured the 27th position on the Economic Complexity Index (ECI 1.02) and held the 37th spot in total exports, amounting to $120 billion. Concurrently, Sweden achieved the 8th rank on the Economic Complexity Index (ECI 1.54) and was positioned 32nd in total exports, reaching $185 billion.
Economy in Denmark vs Norway
In 2021, Denmark secured the 27th position on the Economic Complexity Index (ECI 1.02) and held the 37th spot in total exports, amounting to $120 billion. Simultaneously, Norway attained the 38th rank on the Economic Complexity Index (ECI 0.69) and was positioned 33rd in total exports, reaching $164 billion.
Economy in Denmark vs Netherlands
In 2021, the Netherlands held the 22nd position on the Economic Complexity Index (ECI 1.09) and ranked 6th in total exports, amounting to $642 billion. During the same period, Denmark secured the 27th spot on the Economic Complexity Index (ECI 1.02) and was positioned 37th in total exports, reaching $120 billion.
