Sara Kim

Economic Map Project: Denmark

Economic Data for Denmark

GDP: $201.4 billion
Growth Rate: 1%
GDP per Capita: $36,700
Unemployment Rate: 4.2%
Population Below Poverty Line: 12.1%
Exports: $99.37 billion
Imports: $90.83 billion
National Debts: $559.5 billion

Economic Analysis: Located in Northern part of Europe, Denmark borders northern

Germany and both of the Baltic and the North Sea. Denmark is a member of the European
Union (EU) and is one of the wealthiest countries in the world. The Danish
economy is known for its extensive governmental welfares and equitable income
distribution. The state features a high-tech agricultural sector, state-of-the-art
industry with world-leading firms in pharmaceuticals, maritime shipping and
renewable energy. The state is highly dependent on foreign trades; it mainly exports
food and energy, but relies on imports of raw material for manufacturing goods.
Denmark, however, is not a current member of the European Economic and
Monetary Union (EMU). Denmark maintained a healthy budget surplus until global
financial crises hit the country in 2008. The budget balance went deficit during
2009-10. The global financial crises cut Danish GDP by 0.9% in 2008 and 5.2% in
2009. High levels of unemployment rose during the recession but remained below
5%. Denmark made a minor recovery in 2010 due to increased spending of
governmental expenditures, but remains to hold the strongest financial position in
EU.