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 Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.20 0.5 0.6 0.4 0.6 0.5 percent
Unemployment Rate 3.90 3.8 4 4.5 4.6 4.9 percent
Inflation Rate 1.00 1.4 1.6 1.8 1.9 2.1 percent
Interest Rate -0.65 -0.65 -0.5 -0.5 -0.5 0.25 percent
Balance of Trade 8508.80 9800 3400 9500 7400 3500 DKK Million
Government Debt to GDP 36.40 36 36 35.7 35.7 35.4 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 6.35
6.43 6.46 6.5 6.54 6.7
Stock Market 982.35
points
1014 1003 992 981 938
Government Bond 10Y 0.41
percent
0.38 0.41 0.44 0.47 0.62
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.20
percent
0.5 0.6 0.4 0.6 0.5
GDP Annual Growth Rate 0.50
percent
2.5 2.6 2.4 2.3 2.4
GDP 324.87
USD Billion
330 320 340 340 348
GDP Constant Prices 502126.00
DKK Million
501246 512487 513210 513675 537906
Gross National Product 514051.00
DKK Million
514715 526439 526876 525874 552550
Gross Fixed Capital Formation 116638.00
DKK Million
105427 108695 110675 119321 114087
GDP per capita 61582.17
USD
62500 62500 63200 63200 64700
GDP per capita PPP 46682.51
USD
46795 46997 46106 46106 47597
GDP From Agriculture 4864.00
DKK Million
6953 6598 4863 4976 6925
GDP From Construction 23374.00
DKK Million
22410 23616 21930 23912 24788
GDP From Manufacturing 66970.00
DKK Million
60817 62817 61139 68510 65933
GDP From Mining 6277.00
DKK Million
7549 6748 6140 6421 7083
GDP From Public Administration 98514.00
DKK Million
98287 101220 100678 100780 106241
GDP From Transport 89895.00
DKK Million
87151 90339 82108 91963 94820
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 3.90
percent
3.8 4 4.5 4.6 4.9
Employed Persons 2795.00
Thousand
2795 2785 2776 2795 2791
Unemployed Persons 107309.50
106180 104876 103897 103128 100676
Long Term Unemployment Rate 1.20
percent
1.15 1.15 1.12 1.11 1.1
Youth Unemployment Rate 9.10
percent
9.38 9.14 9.19 9.15 9.15
Labour Costs 108.77
Index Points
109 109 110 110 111
Productivity 126.05
Index Points
126 127 127 126 126
Wages 40101.77
DKK/Month
41151 41151 41800 41010 42200
Wages in Manufacturing 141.50
Index Points
140 143 145 145 155
Population 5.78
Million
5.78 5.78 5.82 5.82 5.87
Retirement Age Women 65.00
65 65 65 65 65
Retirement Age Men 65.00
65 65 65 65 65
Job Vacancies 32598.00
32838 30643 32869 34716 31696
Labor Force Participation Rate 69.40
percent
69.42 69.46 69.46 69.46 69.46
Part Time Employment 699.40
Thousand
689 691 694 695 693
Employment Change 0.40
percent
0.42 0.42 0.44 0.41 0.42
Employment Rate 65.90
percent
65.93 66.01 66.04 66.04 66.05
Full Time Employment 2094.50
Thousand
2130 2109 2089 2112 2124
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 1.00
percent
1.4 1.6 1.8 1.9 2.1
Harmonised Consumer Prices 102.20
Index Points
103 103 103 104 107
Consumer Price Index CPI 102.70
Index Points
103 103 104 104 107
Core Consumer Prices 102.80
Index Points
103 102 103 103 104
Core Inflation Rate 0.60
percent
0.89 0.9 0.89 0.89 0.89
GDP Deflator 107.45
Index Points
108 108 108 108 110
Producer Prices 110.70
Index Points
112 114 112 114 118
Export Prices 116.60
Index Points
118 118 118 118 118
Import Prices 118.90
Index Points
118 118 118 118 118
Food Inflation -1.40
percent
-0.21 -0.21 -0.21 1.89 -0.21
Inflation Rate Mom -0.40
percent
0.07 0.08 0.06 0.07 0.07
Producer Prices Change 2.00
percent
3.3 3.6 3.1 2.6 1.5
CPI Transportation 103.70
Index Points
102 102 102 105 107
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate -0.65
percent
-0.65 -0.5 -0.5 -0.5 0.25
Interbank Rate -0.31
percent
-0.31 -0.16 -0.16 -0.16 0.6
Money Supply M0 63467.90
DKK Million
63074 63182 63136 63141 63138
Money Supply M1 1235179.00
DKK Million
1237399 1241267 1239392 1240454 1240042
Money Supply M2 1327022.00
DKK Million
1329738 1333743 1332703 1333473 1333422
Money Supply M3 1512807.00
DKK Million
1505719 1501822 1500200 1499560 1499132
Banks Balance Sheet 3746436.50
DKK Million
3767736 3720291 3731614 3711184 3711602
Foreign Exchange Reserves 467900.00
DKK Million
468100 467792 467786 467785 467785
Loans to Private Sector 357.55
DKK Billion
357 355 354 354 354
Private Debt to GDP 273.77
percent
275 275 276 276 279
Central Bank Balance Sheet 505.77
DKK Billion
506 506 506 506 506
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 8508.80
DKK Million
9800 3400 9500 7400 3500
Exports 56864.80
DKK Million
62000 54000 68000 61500 58000
Imports 48356.00
DKK Million
52200 50600 58500 54100 54500
Current Account 16896.00
DKK Million
11500 10600 5100 16400 6200
Current Account to GDP 7.90
percent
6 6 5.9 5.9 5.6
External Debt 1554.00
DKK Million
1648 1642 1639 1638 1627
Terms of Trade 98.00
Index Points
99.67 99.7 99.7 99.7 99.7
Capital Flows 75.00
DKK Million
58.52 57.75 57.73 57.73 57.73
Gold Reserves 66.50
Tonnes
66.51 66.49 66.48 66.48 66.45
Crude Oil Production 115.00
BBL/D/1K
118 118 118 118 118
Weapons Sales 12.00
USD Million
20.53 18.22 19.89 21.56 27.54
Terrorism Index 1.51
1.34 1.33 1.15 0.98 0.17
Foreign Direct Investment 684.90
DKK Billion
696 713 717 721 747
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 36.40
percent
36 36 35.7 35.7 35.4
Government Budget 1.00
percent of GDP
-0.5 -0.5 -0.5 -0.5 1.8
Government Budget Value -6348.00
DKK Million
-4420 823 -8622 60.67 -4320
Government Spending 128710.00
DKK Million
130019 132749 132449 131670 139333
Government Spending to GDP 51.90
percent
51.5 51.5 51.1 51.1 51
Government Revenues 275242.00
DKK Million
277880 290923 277130 288951 287403
Government Debt 664.12
DKK Billion
664 665 665 665 665
Fiscal Expenditure 281590.00
DKK Million
282300 288456 285752 288890 291723
Military Expenditure 3700.51
USD Million
3654 3656 3650 3644 3627
Asylum Applications 305.00
persons
416 394 385 388 390
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 5.00
Index Points
4 3 4 2 -2
Industrial Production 7.40
percent
-6.9 4.5 9.5 1.2 2.5
Industrial Production Mom 3.50
percent
-2 1 -0.6 0.7 0.7
Manufacturing Production 7.00
percent
1.19 1.09 1.11 1.1 1.1
Capacity Utilization 80.70
percent
81.39 81.66 81.68 81.71 81.19
New Orders 12.00
Index Points
14.54 11.74 14.59 12.06 12.1
Changes in Inventories 3792.00
DKK Million
3682 3442 3474 3397 3226
Bankruptcies 380.00
Companies
474 601 553 559 559
Car Registrations 20670.00
18735 18917 19174 19201 19243
Internet Speed 20105.69
KBps
23200 23699 24194 24684 29344
IP Addresses 2624652.00
IP
2629224 2633510 2633992 2632720 2633970
Manufacturing Pmi 59.10
55.9 56 55.4 55.1 54
Mining Production -1.60
percent
-6.45 -6.21 -6.31 -6.33 -6.33
Competitiveness Index 5.39
Points
5.35 5.35 5.39 5.4 5.4
Competitiveness Rank 12.00
10 10 10 10 9
Corporate Profits 269838.00
DKK Million
267650 273197 275238 277279 307367
Ease of Doing Business 3.00
3 3 3 3 3
Electricity Production 1499.00
Gigawatt-hour
2249 3517 3167 2290 2766
Corruption Index 88.00
Points
89 89 89 89 90
Corruption Rank 2.00
2 2 2 2 1
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence 6.90
Index Points
9.2 9.1 7.8 7.7 5.3
Retail Sales MoM -0.30
percent
0.1 0.2 0.3 0.2 0.1
Retail Sales YoY 0.50
percent
3.2 1.1 1.5 2.1 0.8
Consumer Spending 229300.00
DKK Million
225484 232081 233882 234574 243592
Disposable Personal Income 1055765.07
DKK Million
1079649 1085824 1093360 1100897 1206126
Personal Savings 17.38
percent
10.35 8.61 16.82 14.65 10.68
Consumer Credit 19631.00
DKK Million
19785 19977 20104 20283 20737
Gasoline Prices 1.99
USD/Liter
2.03 1.92 1.81 1.71 1.35
Households Debt To Gdp 115.60
percent of GDP
114 114 113 113 112
Households Debt To Income 240.58
percent
228 224 224 224 211
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Construction Output 9.00
percent
3.52 3.96 3.97 4.04 4.04
Housing Index 112.83
Index points
118 118 120 122 129
Home Ownership Rate 62.20
percent
62.72 62.88 63.07 63.27 65
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 22.00
percent
22 22 22 22 22
Personal Income Tax Rate 55.80
percent
55.8 55.8 55.8 55.8 55
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 Q3/18 Q4/18 Q1/19 Q2/19 2020
Temperature -3.78
celsius
-5.42 -24.88 -29.55 -15.05 -18.49