Denmark | Economic Forecasts | 2017-2020 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 Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.30 0.4 0.4 0.5 0.5 0.8 percent [+]
Unemployment Rate 4.30 4.4 4.5 4.5 4.6 5 percent [+]
Inflation Rate 1.10 1.4 1.9 2.4 2.2 2.1 percent [+]
Interest Rate -0.65 -0.45 -0.45 -0.25 -0.25 0.5 percent [+]
Balance of Trade 9734.00 2854 5531 1225 5535 1566 DKK Million [+]
Government Debt to GDP 37.80 36.5 36.23 35.96 35.65 33.29 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 6.65 7.05 7.12 7.33 7.26 8.38 [+]
Stock Market 988.26 907 898 870 880 733 points [+]
Government Bond 10Y 0.66 0.63 0.63 0.64 0.64 0.74 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.30 0.4 0.4 0.5 0.5 0.8 percent [+]
GDP Annual Growth Rate 1.80 1.5 1.5 1.6 1.8 2 percent [+]
GDP 301.30 300 304 303 294 322 USD Billion [+]
GDP Constant Prices 487736.00 489802 490596 491152 491548 492754 DKK Million [+]
Gross National Product 506985.00 519943 521003 521409 520256 518304 DKK Million [+]
Gross Fixed Capital Formation 99070.00 99059 99619 100006 99838 100370 DKK Million [+]
GDP per capita 60000.54 60060 60426 60792 60791 61536 USD [+]
GDP per capita PPP 45483.76 45460 45543 45626 45636 46009 USD [+]
GDP From Agriculture 6251.00 6190 6654 6261 6271 6276 DKK Million [+]
GDP From Construction 22234.00 22053 21749 22258 21123 22101 DKK Million [+]
GDP From Manufacturing 63383.00 62947 61044 63076 60881 63053 DKK Million [+]
GDP From Mining 6487.00 6675 6423 6405 6204 6372 DKK Million [+]
GDP From Public Administration 94835.00 95420 95148 94977 94961 94710 DKK Million [+]
GDP From Transport 84476.00 86172 84119 84923 78558 85035 DKK Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 4.30 4.4 4.5 4.5 4.6 5 percent [+]
Employed Persons 2696.00 2704 2714 2718 2700 2712 Thousand [+]
Unemployed Persons 116275.60 118213 119685 120817 121689 124435 Thousand [+]
Long Term Unemployment Rate 1.40 1.27 1.26 1.28 1.26 1.25 percent [+]
Youth Unemployment Rate 12.60 12.75 12.72 12.75 12.75 12.76 percent [+]
Labour Costs 107.22 108 108 108 108 109 Index Points [+]
Productivity 124.62 123 124 124 124 124 Index Points [+]
Wages 38957.98 38556 38650 38745 38698 38019 DKK/Month [+]
Wages in Manufacturing 134.40 138 137 137 138 146 Index Points [+]
Population 5.71 5.72 5.73 5.74 5.74 5.87 Million [+]
Retirement Age Women 65.00 65 65 65 65 65 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change 0.40 0.4 0.4 0.4 0.41 0.4 percent [+]
Employment Rate 64.50 64.05 63.93 63.88 63.86 63.84 percent [+]
Full Time Employment 2027.90 2008 2023 2022 2010 2016 Thousand [+]
Part Time Employment 717.20 742 738 733 735 738 Thousand [+]
Job Vacancies 28423.00 32130 30563 29532 32228 30738 [+]
Labor Force Participation Rate 68.80 68.56 68.51 68.49 68.49 68.49 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 1.10 1.4 1.9 2.4 2.2 2.1 percent [+]
Harmonised Consumer Prices 101.10 101 101 102 102 105 Index Points [+]
Consumer Price Index CPI 101.40 101 102 102 102 105 Index Points [+]
Core Consumer Prices 101.60 101 101 101 101 101 Index Points [+]
Core Inflation Rate 0.90 0.89 0.88 0.88 0.88 0.88 percent [+]
GDP Deflator 107.63 108 108 109 109 113 Index Points [+]
Producer Prices 109.50 114 116 118 120 132 Index Points [+]
Export Prices 118.20 119 119 119 119 119 Index Points [+]
Import Prices 115.10 115 115 115 115 115 Index Points [+]
Food Inflation 2.00 1.84 1.94 1.87 1.93 1.9 percent [+]
Cpi Transportation 100.90 100 100 100 100 100 Index Points [+]
Producer Prices Change 2.00 2.6 3.2 2.9 2.8 2.5 percent [+]
Inflation Rate Mom 0.20 -0.1 0.11 0.06 0.08 0.07 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate -0.65 -0.45 -0.45 -0.25 -0.25 0.5 percent [+]
Interbank Rate -0.23 -0.23 -0.24 -0.23 -0.23 -0.23 percent [+]
Money Supply M0 61711.30 61495 61546 61550 61558 61558 DKK Million [+]
Money Supply M1 1125327.00 1129290 1132744 1134920 1136462 1139141 DKK Million [+]
Money Supply M2 1232623.00 1239899 1244758 1247789 1249929 1254952 DKK Million [+]
Money Supply M3 1493831.00 1048038 1215432 1216343 1126772 1220800 DKK Million [+]
Banks Balance Sheet 3953659.20 3929617 3958337 3930577 3958075 3932025 DKK Million [+]
Foreign Exchange Reserves 464100.00 465681 465584 465623 465624 465624 DKK Million [+]
Loans to Private Sector 353.75 358 359 359 360 360 DKK Billion [+]
Deposit Interest Rate 2.40 2.46 2.4 2.33 2.23 2.35 percent [+]
Central Bank Balance Sheet 503.07 502 502 502 502 502 DKK Billion [+]
Private Debt to GDP 257.12 258 255 252 251 240 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 9734.00 2854 5531 1225 5535 1566 DKK Million [+]
Exports 63550.50 56241 57123 55905 56255 56204 DKK Million [+]
Imports 53816.50 50953 50897 50362 50418 50453 DKK Million [+]
Current Account 8926.00 4101 14171 4611 13716 877 DKK Million [+]
Current Account to GDP 7.10 6.7 7.18 7.06 7.12 7.27 percent [+]
External Debt 3343.00 2495 1555 1298 1195 1137 DKK Million [+]
Terms of Trade 104.00 104 104 104 104 104 Index Points [+]
Capital Flows -2.00 -109 -124 -126 -127 -127 DKK Million [+]
Gold Reserves 66.55 66.55 66.55 66.55 66.55 66.55 Tonnes [+]
Crude Oil Production 136.00 140 140 140 140 140 BBL/D/1K [+]
Foreign Direct Investment 683.90 641 627 614 605 551 DKK Billion [+]
Terrorism Index 2.15 0.28 0.29 0.3 0.42 0.13 [+]
Weapons Sales 25.00 34.2 33.23 32.27 33.19 35.44 USD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 37.80 36.5 36.23 35.96 35.65 33.29 percent [+]
Government Budget -0.90 -2.8 -0.55 -2.1 -0.89 -0.3 percent of GDP [+]
Government Budget Value 2590.00 1220 -6234 1465 -6212 -1000 DKK Million [+]
Government Spending 124711.00 125736 126147 126091 126111 127329 DKK Million [+]
Government Spending to GDP 53.60 54.15 54.4 54.66 54.69 55.57 percent [+]
Government Revenues 278077.00 276310 265703 276012 265317 273084 DKK Million [+]
Government Debt 661.49 662 664 664 664 664 DKK Billion [+]
Fiscal Expenditure 275487.00 273954 271802 272622 271521 269474 DKK Million [+]
Asylum Applications 245.00 732 902 843 799 811 persons [+]
Military Expenditure 4130.10 4097 4083 4068 4113 4076 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 1.00 -3 1.18 -5 1.19 -6 [+]
Industrial Production 10.70 -2.5 7.31 -0.2 6.64 1 percent [+]
Industrial Production Mom 1.80 -0.8 0 3.2 0.04 3.3 percent [+]
Manufacturing Production 8.00 3.79 3.77 2.85 2.51 1.93 percent [+]
Capacity Utilization 80.10 79.2 80.06 80.49 80.71 81.12 percent [+]
New Orders 20.00 15.96 20.42 15.93 18.83 16.14 [+]
Changes in Inventories 662.00 1138 1290 1431 1552 2007 DKK Million [+]
Bankruptcies 480.00 539 506 508 510 509 Companies [+]
Car Registrations 17648.00 18725 18623 18768 18698 18714 Cars [+]
Competitiveness Index 5.35 5.33 5.33 5.33 5.35 5.35 Points [+]
Competitiveness Rank 12.00 11 11 11 8 5 [+]
Corporate Profits 222196.00 220073 222463 224852 225923 246778 DKK Million [+]
Ease of Doing Business 3.00 3 3 3 3 3 [+]
Electricity Production 3247.00 2591 2498 2883 2985 2780 Gigawatt-hour [+]
Corruption Index 90.00 90 90 89 89 91 Points [+]
Corruption Rank 1.00 1 1 1 1 1 [+]
Mining Production -14.90 -7.73 -5.48 -5.19 -5.17 -5.17 percent [+]
Manufacturing Pmi 46.38 53.65 53.28 53.67 54.13 55.5 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 5.80 6.4 2.8 7.6 5.03 4.4 [+]
Retail Sales MoM 0.30 0.08 0.06 0.07 0.07 0.07 percent [+]
Retail Sales YoY -0.80 2 1.9 0.2 -0.16 0.6 percent [+]
Consumer Spending 224085.00 224400 225249 224999 224957 224997 DKK Million [+]
Disposable Personal Income 1031205.11 1042960 1052167 1061375 1068845 1183098 DKK Million [+]
Personal Savings 6.14 13.92 8.5 7.49 17.13 9.97 percent [+]
Consumer Credit 19023.00 19249 19360 19482 19537 19836 DKK Million [+]
Gasoline Prices 1.73 1.75 1.76 1.76 1.76 1.76 USD/Liter [+]
Households Debt To Gdp 120.70 121 121 122 122 122 percent of GDP [+]
Households Debt To Income 243.45 247 246 245 242 214 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output 4.20 6.07 5.76 5.82 5.82 5.83 percent [+]
Housing Index 115.45 112 110 107 104 100 Index points [+]
Home Ownership Rate 62.70 63.02 62.99 62.96 63.21 65.77 percent [+]
Housing Starts 1651.00 1443 1583 1860 1654 1724 [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 22.00 21.7 21.7 21.7 21.78 22.36 percent [+]
Personal Income Tax Rate 55.80 55.34 55.34 55.34 55.01 53.44 percent [+]
Sales Tax Rate 25.00 25 25 25 25 25 percent [+]
Social Security Rate 8.00 8 8 8 8 8 percent [+]
Social Security Rate For Companies 0.00 0 0 0 0 0 percent [+]
Social Security Rate For Employees 8.00 8 8 8 8 8 percent [+]