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 Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.60 0.4 0.5 0.5 0.5 0.8 percent [+]
Unemployment Rate 4.50 4.3 4.4 4.4 4.5 5 percent [+]
Inflation Rate 1.50 0.9 1.3 1.5 1.4 2.1 percent [+]
Interest Rate -0.65 -0.65 -0.65 -0.45 -0.25 0.5 percent [+]
Balance of Trade 5167.10 5420 1225 4867 4679 1566 DKK Million [+]
Government Debt to GDP 37.80 36.5 36.5 36 36 35.4 percent [+]
MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Currency 6.24 6.14 6.08 6.01 5.95 5.27 [+]
Stock Market 1024.81 983 973 964 954 844 points [+]
Government Bond 10Y 0.55 0.69 0.69 0.7 0.71 0.78 percent [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.60 0.4 0.5 0.5 0.5 0.8 percent [+]
GDP Annual Growth Rate 2.70 2.5 2.6 2.8 2.7 2.4 percent [+]
GDP 306.14 313 303 314 309 322 USD Billion [+]
GDP Constant Prices 498616.00 500335 501831 502975 503845 506350 DKK Million [+]
Gross National Product 519560.00 519175 521909 522570 522268 521839 DKK Million [+]
Gross Fixed Capital Formation 99759.00 99771 99608 99586 100054 99995 DKK Million [+]
GDP per capita 60268.23 60165 59966 60050 60135 60370 USD [+]
GDP per capita PPP 45686.48 45718 45748 45767 45786 46106 USD [+]
GDP From Agriculture 6283.00 6877 6271 6099 6276 6306 DKK Million [+]
GDP From Construction 22188.00 22021 22306 20714 22229 22149 DKK Million [+]
GDP From Manufacturing 64428.00 61993 64014 62135 64165 64132 DKK Million [+]
GDP From Mining 6781.00 6526 6499 6263 6682 6494 DKK Million [+]
GDP From Public Administration 97680.00 97089 96622 96653 97244 98667 DKK Million [+]
GDP From Transport 87550.00 86881 86749 81084 88078 87277 DKK Million [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 4.50 4.3 4.4 4.4 4.5 5 percent [+]
Employed Persons 2730.00 2744 2732 2721 2721 2705 Thousand [+]
Unemployed Persons 121138.40 130376 130376 130376 130376 130376 [+]
Long Term Unemployment Rate 1.60 1.54 1.57 1.6 1.6 1.64 percent [+]
Youth Unemployment Rate 11.70 10.66 10.49 10.44 10.4 10.36 percent [+]
Labour Costs 106.30 106 106 106 106 105 Index Points [+]
Productivity 128.15 129 129 130 129 130 Index Points [+]
Wages 39574.89 39938 40125 40275 40425 42376 DKK/Month [+]
Wages in Manufacturing 138.10 137 137 138 141 145 Index Points [+]
Population 5.75 5.75 5.75 5.8 5.8 5.89 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 0.41 0.43 0.41 0.42 0.42 percent [+]
Employment Rate 65.00 64.79 64.86 64.87 64.88 64.88 percent [+]
Full Time Employment 1993.10 2012 2012 1992 1989 2000 Thousand [+]
Part Time Employment 701.70 719 718 712 715 716 Thousand [+]
Job Vacancies 28423.00 30563 29532 32228 31624 30738 [+]
Labor Force Participation Rate 69.00 69.05 69.12 69.18 69.24 69.71 percent [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate 1.50 0.9 1.3 1.5 1.4 2.1 percent [+]
Harmonised Consumer Prices 101.40 101 101 101 101 101 Index Points [+]
Consumer Price Index CPI 101.70 102 102 102 102 101 Index Points [+]
Core Consumer Prices 102.20 102 102 102 102 102 Index Points [+]
Core Inflation Rate 1.60 1.59 1.66 1.67 1.67 1.68 percent [+]
GDP Deflator 107.92 108 108 109 109 112 Index Points [+]
Producer Prices 108.10 116 118 120 120 132 Index Points [+]
Export Prices 116.50 116 116 116 116 115 Index Points [+]
Import Prices 110.30 110 110 110 110 110 Index Points [+]
Food Inflation 3.40 3.36 2.95 2.7 2.5 1.89 percent [+]
CPI Transportation 100.20 100 99.99 99.88 99.77 98.72 Index Points [+]
Producer Prices Change 2.90 3.2 2.9 2.8 2.8 2.5 percent [+]
Inflation Rate Mom -0.30 0.02 0.22 0.13 0.14 0.14 percent [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate -0.65 -0.65 -0.65 -0.45 -0.25 0.5 percent [+]
Interbank Rate -0.32 -0.19 -0.15 0 0.13 1.31 percent [+]
Money Supply M0 62664.80 62543 62677 62616 62633 62630 DKK Million [+]
Money Supply M1 1179860.00 1185409 1189381 1190701 1191446 1191964 DKK Million [+]
Money Supply M2 1284344.00 1289375 1294096 1295865 1296847 1298118 DKK Million [+]
Money Supply M3 1528532.00 1475389 1455838 1448048 1445089 1443355 DKK Million [+]
Banks Balance Sheet 3811189.10 3785411 3735160 3753550 3726462 3726866 DKK Million [+]
Foreign Exchange Reserves 464400.00 464546 464587 464593 464596 464596 DKK Million [+]
Loans to Private Sector 357.03 357 357 357 356 356 DKK Billion [+]
Deposit Interest Rate 2.40 2.4 2.33 2.23 2.13 2.35 percent [+]
Central Bank Balance Sheet 506.54 506 505 505 505 505 DKK Billion [+]
Private Debt to GDP 265.18 263 262 262 261 257 percent [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade 5167.10 5420 1225 4867 4679 1566 DKK Million [+]
Exports 50383.60 54608 53633 53346 53197 51722 DKK Million [+]
Imports 45216.50 48760 48092 47833 47672 46350 DKK Million [+]
Current Account 15383.00 14855 4611 11940 11131 877 DKK Million [+]
Current Account to GDP 8.10 6.4 6.4 6 6 5.6 percent [+]
External Debt 2648.00 2225 1997 1911 1880 1862 DKK Million [+]
Terms of Trade 105.00 104 104 104 103 102 Index Points [+]
Capital Flows 14.00 -79.3 -84.22 -84.65 -84.7 -84.71 DKK Million [+]
Gold Reserves 66.55 66.55 66.55 66.55 66.55 66.55 Tonnes [+]
Crude Oil Production 135.00 137 137 137 137 137 BBL/D/1K [+]
Foreign Direct Investment 683.90 627 614 605 595 551 DKK Billion [+]
Terrorism Index 2.15 0.29 0.3 0.42 0.53 0.13 [+]
Weapons Sales 25.00 33.23 32.27 33.19 34.11 35.44 USD Million [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 37.80 36.5 36.5 36 36 35.4 percent [+]
Government Budget -0.90 -0.55 -2.1 -0.89 -1.54 -0.3 percent of GDP [+]
Government Budget Value 2590.00 -6234 1465 -6212 485 -1000 DKK Million [+]
Government Spending 128181.00 128328 128640 129017 129331 132540 DKK Million [+]
Government Spending to GDP 53.60 54.4 54.66 54.69 54.73 55.57 percent [+]
Government Revenues 278077.00 265703 276012 265317 274987 273084 DKK Million [+]
Government Debt 694.82 686 687 687 687 687 DKK Billion [+]
Fiscal Expenditure 275487.00 271802 272622 271521 271777 269474 DKK Million [+]
Asylum Applications 300.00 766 813 760 740 750 persons [+]
Military Expenditure 3488.30 3526 3553 3540 3528 3447 USD Million [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Business Confidence 0.00 2 -5 1.41 1.41 -6 [+]
Industrial Production -2.40 0.49 -0.2 0.37 0.37 1 percent [+]
Industrial Production Mom -1.40 0.27 3.2 0.03 0.04 3.3 percent [+]
Manufacturing Production -1.10 3.41 2.74 2.43 2.23 1.94 percent [+]
Capacity Utilization 80.50 80.09 80.9 81.16 81.32 81.16 percent [+]
New Orders 20.00 20.42 15.93 18.83 15.96 16.14 [+]
Changes in Inventories 1865.00 2157 2291 2264 2337 2485 DKK Million [+]
Bankruptcies 317.00 331 322 314 305 263 Companies [+]
Car Registrations 15313.00 15348 14002 13209 12639 11178 Cars [+]
Competitiveness Index 5.35 5.33 5.33 5.34 5.35 5.35 Points [+]
Competitiveness Rank 12.00 11 11 9 8 5 [+]
Corporate Profits 244520.00 247314 250234 252367 254499 283278 DKK Million [+]
Ease of Doing Business 3.00 3 3 3 3 3 [+]
Electricity Production 1859.00 2327 3305 3120 2473 2780 Gigawatt-hour [+]
Corruption Index 90.00 90 89 89 89 91 Points [+]
Corruption Rank 1.00 1 1 1 1 1 [+]
Mining Production -9.80 -4.88 -4.26 -4 -3.91 -3.88 percent [+]
Manufacturing Pmi 61.10 60.4 59.44 58.56 57.85 55.85 [+]
CONSUMER Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Consumer Confidence 7.30 2.8 7.6 7.04 6.63 4.4 [+]
Retail Sales MoM -0.30 0.05 0.04 0.03 0.03 0.03 percent [+]
Retail Sales YoY 0.30 1.9 0.2 0.51 0.5 0.6 percent [+]
Consumer Spending 226717.00 227919 228077 228136 228379 228213 DKK Million [+]
Disposable Personal Income 1031205.11 1052167 1061375 1068845 1076315 1183098 DKK Million [+]
Personal Savings 17.60 8.45 7.44 16.9 13.35 9.88 percent [+]
Consumer Credit 18671.00 19060 19143 19146 19196 19311 DKK Million [+]
Gasoline Prices 1.84 1.85 1.86 1.86 1.86 1.86 USD/Liter [+]
Households Debt To Gdp 118.10 120 119 120 119 119 percent of GDP [+]
Households Debt To Income 241.22 235 232 229 226 209 percent [+]
HOUSING Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Construction Output -1.50 7.05 6.56 6.39 6.37 6.38 percent [+]
Housing Index 106.61 111 111 112 114 118 Index points [+]
Home Ownership Rate 62.00 61.93 61.74 61.68 61.61 61.15 percent [+]
Housing Starts 1651.00 1583 1860 1654 1509 1724 [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Corporate Tax Rate 22.00 21.7 21.7 21.76 21.78 22.36 percent [+]
Personal Income Tax Rate 55.80 55.34 55.34 55.09 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 [+]