Denmark - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Denmark including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Denmark economy.


Overview Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.90 0.5 0.5 0.5 0.7 0.8 percent
Unemployment Rate 4.20 4.5 4.5 4.6 4.7 5 percent
Inflation Rate 0.70 1.9 2 1.8 1.7 2.1 percent
Interest Rate -0.65 -0.65 -0.65 -0.5 -0.5 0.25 percent
Balance of Trade 1782.80 2998 3120 3106 1461 1566 DKK Million
Government Debt to GDP 37.80 36 36 36 36 35.4 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 6.00
6.19 6.3 6.41 6.52 7
Stock Market 1005.87
points
1004 976 948 921 733
Government Bond 10Y 0.79
percent
0.92 1.15 1.43 1.79 4.37
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.90
percent
0.5 0.5 0.5 0.7 0.8
GDP Annual Growth Rate 1.50
percent
2.8 2.7 2.6 2.6 2.4
GDP 306.90
USD Billion
296 303 309 310 322
GDP Constant Prices 497000.00
DKK Million
497297 497052 496771 496429 492181
Gross National Product 644447.00
DKK Million
644276 644132 642616 641687 627786
Gross Fixed Capital Formation 101690.00
DKK Million
101288 101154 100807 100706 97825
GDP per capita 60268.23
USD
60900 60900 60900 60900 61700
GDP per capita PPP 45686.48
USD
45631 45658 45684 45711 45187
GDP From Agriculture 6820.00
DKK Million
5515 5656 6189 5995 5576
GDP From Construction 21252.00
DKK Million
19768 20340 20768 20855 20120
GDP From Manufacturing 60075.00
DKK Million
60925 62947 61039 61918 60818
GDP From Mining 7475.00
DKK Million
7313 7420 7491 7536 7978
GDP From Public Administration 98516.00
DKK Million
98485 98493 98470 98450 98266
GDP From Transport 87357.00
DKK Million
81951 86071 86172 87695 86098
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 4.20
percent
4.5 4.5 4.6 4.7 5
Employed Persons 2759.00
Thousand
2730 2729 2731 2729 2706
Unemployed Persons 112953.90
129838 129838 129838 129838 129838
Long Term Unemployment Rate 1.20
percent
1.13 1.16 1.16 1.17 1.3
Youth Unemployment Rate 10.00
percent
10.42 10.39 10.41 10.44 10.69
Labour Costs 106.89
Index Points
107 107 107 106 105
Productivity 126.16
Index Points
126 126 126 126 125
Wages 40101.77
DKK/Month
40151 40262 40373 40484 40554
Wages in Manufacturing 137.20
Index Points
138 138 138 138 137
Population 5.75
Million
5.8 5.8 5.8 5.8 5.89
Retirement Age Women 65.00
65 65 65 65 65
Retirement Age Men 65.00
65 65 65 65 65
Job Vacancies 32789.00
31392 32622 31730 30751 29771
Labor Force Participation Rate 68.60
percent
68.62 68.7 68.77 68.84 69.43
Part Time Employment 669.70
Thousand
678 681 677 675 660
Employment Change 0.40
percent
0.25 0.23 0.22 0.2 0.12
Employment Rate 64.80
percent
64.74 64.79 64.85 64.91 65.5
Full Time Employment 2088.30
Thousand
2041 2044 2068 2067 2062
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 0.70
percent
1.9 2 1.8 1.7 2.1
Harmonised Consumer Prices 100.60
Index Points
101 101 101 101 100
Consumer Price Index CPI 101.00
Index Points
101 101 101 101 101
Core Consumer Prices 101.10
Index Points
101 101 101 101 101
Core Inflation Rate 1.20
percent
1.23 1.28 1.33 1.38 1.56
GDP Deflator 107.79
Index Points
108 108 108 109 108
Producer Prices 109.80
Index Points
120 120 110 123 132
Export Prices 119.30
Index Points
119 119 119 119 117
Import Prices 119.70
Index Points
120 120 120 119 117
Food Inflation 1.60
percent
1.35 1.4 1.48 1.55 1.76
Inflation Rate Mom -0.30
percent
0.28 0.08 0.1 0.11 0.1
Producer Prices Change -0.40
percent
2.8 2.8 0.19 2.7 2.5
CPI Transportation 100.20
Index Points
100 100 99.9 99.8 98.68
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate -0.65
percent
-0.65 -0.65 -0.5 -0.5 0.25
Interbank Rate -0.30
percent
-0.24 -0.1 0.03 0.16 1.48
Money Supply M0 62135.70
DKK Million
62151 62120 62101 62081 61847
Money Supply M1 1189297.00
DKK Million
1193301 1193475 1192681 1191710 1181744
Money Supply M2 1294519.00
DKK Million
1296994 1296010 1294505 1293089 1282255
Money Supply M3 1498388.00
DKK Million
1489353 1481094 1472135 1463748 1369780
Banks Balance Sheet 3804872.40
DKK Million
3810041 3807304 3801397 3794462 3709559
Foreign Exchange Reserves 463900.00
DKK Million
458487 454113 449804 445570 399766
Loans to Private Sector 338.22
DKK Billion
338 338 337 337 334
Private Debt to GDP 273.77
percent
272 272 272 272 261
Central Bank Balance Sheet 503.98
DKK Billion
501 495 490 484 431
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade 1782.80
DKK Million
2998 3120 3106 1461 1566
Exports 50895.30
DKK Million
54209 54405 54229 54058 52339
Imports 49112.50
DKK Million
51080 51289 51207 51081 49549
Current Account 11871.00
DKK Million
11455 10857 10379 2059 877
Current Account to GDP 8.10
percent
6 6 6 6 5.6
External Debt 2648.00
DKK Million
7474 9034 10565 12066 27971
Terms of Trade 98.00
Index Points
100 100 100 100 101
Capital Flows 42.00
DKK Million
5.79 -3.06 -6 -7.1 -7.77
Gold Reserves 66.55
Tonnes
66.55 66.55 66.55 66.55 66.55
Crude Oil Production 140.00
BBL/D/1K
144 146 148 150 163
Terrorism Index 1.51
1.35 1.35 1.34 1.33 0.17
Weapons Sales 25.00
USD Million
47.2 46.42 45.63 44.85 58.88
Foreign Direct Investment 684.90
DKK Billion
651 657 662 668 555
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 37.80
percent
36 36 36 36 35.4
Government Budget -0.90
percent of GDP
0.5 0.5 0.5 0.5 1.8
Government Budget Value -3750.00
DKK Million
-2033 2680 -1138 2051 1596
Government Spending 129233.00
DKK Million
129685 129634 129682 129701 129161
Government Spending to GDP 53.60
percent
53.78 53.65 53.51 53.38 54.41
Government Revenues 269909.00
DKK Million
270710 278776 271465 277711 274098
Government Debt 642.28
DKK Billion
639 640 641 643 653
Fiscal Expenditure 273659.00
DKK Million
273811 275127 273986 274631 272833
Military Expenditure 3488.30
USD Million
3527 3544 3560 3577 3733
Asylum Applications 260.00
persons
535 614 618 612 610
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Business Confidence -3.00
Index Points
-2.35 -2.41 -2.02 -8 -6
Industrial Production -3.10
percent
-1.7 -0.93 -0.49 0.6 1
Industrial Production Mom 1.20
percent
0.34 0.04 0.03 2.7 3.3
Manufacturing Production -1.20
percent
0.88 1.22 1.5 1.66 1.88
Capacity Utilization 81.10
percent
79.42 80.99 81.23 81.52 81.11
New Orders 10.00
Index Points
6.09 4.83 4.04 4.37 5.94
Changes in Inventories -731.00
DKK Million
1348 1132 1430 1394 1578
Bankruptcies 349.00
Companies
640 607 563 527 316
Car Registrations 19905.00
17325 15817 14641 13763 11260
Internet Speed 20105.69
KBps
19696 20723 20848 19887 18402
IP Addresses 2624652.00
IP
2621911 2606758 2599447 2597067 2532306
Manufacturing Pmi 68.69
61.54 60.63 59.5 58.55 55.98
Mining Production 0.20
percent
-3.09 -3.74 -3.87 -3.9 -3.91
Competitiveness Index 5.39
Points
5.45 5.45 5.45 5.45 5.46
Competitiveness Rank 12.00
10 10 10 10 9
Corporate Profits 244520.00
DKK Million
231085 234257 237428 240599 216519
Ease of Doing Business 3.00
3 3 3 3 5
Electricity Production 2827.00
Gigawatt-hour
3276 2536 2398 2864 2751
Corruption Index 90.00
Points
91 91 91 91 93
Corruption Rank 1.00
1 1 1 1 2
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Consumer Confidence 8.20
Index Points
7.28 6.55 5.81 5.1 4.4
Retail Sales MoM -0.30
percent
0.28 0.06 0.08 0.06 0.07
Retail Sales YoY 1.10
percent
1.2 1.1 1.07 0.5 0.6
Consumer Spending 224682.00
DKK Million
224545 223972 223845 223600 221204
Disposable Personal Income 1055765.07
DKK Million
1061142 1066277 1071411 1076545 1128681
Personal Savings 10.28
percent
14.82 14.53 10.04 7.82 8.26
Consumer Credit 19034.00
DKK Million
19034 19075 19085 19056 18301
Gasoline Prices 2.01
USD/Liter
2.03 2.04 2.03 2.02 1.9
Households Debt To Gdp 117.20
percent of GDP
115 114 114 113 109
Households Debt To Income 241.22
percent
240 238 235 232 209
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Construction Output 4.70
percent
3.34 2.83 2.49 2.27 1.84
Housing Index 110.80
Index points
105 105 102 97.91 89.27
Housing Starts 1651.00
1830 1858 1952 1961 1955
Home Ownership Rate 62.40
percent
62.71 62.84 62.97 63.1 65.11
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 22.00
percent
22 22 22 22 24
Personal Income Tax Rate 55.80
percent
56 56 56 56 57
Sales Tax Rate 25.00
percent
25 25 25 25 25
Social Security Rate 8.00
percent
8 8 8 8 8
Social Security Rate For Companies 0.00
percent
0 0 0 0 0
Social Security Rate For Employees 8.00
percent
8 8 8 8 8
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Temperature -3.78
celsius
-29.49 -12.58 -5.42 -24.88 -18.49