The Danish economy advanced by 5.2 percent on quarter in the three months to September of 2020, the most since the series began in 1991, compared with the preliminary estimates of a 4.9 percent expansion, and rebounding sharply from an upwardly revised 7.1 percent fall in the previous period. Both fixed investment (3.3% vs -4.5% in Q2) and household consumption (4.6 percent vs -5.5 percent) rebounded sharply. Also, government spending recovered (1.0 percent vs -1.6 percent). Meantime, net external demand contributed negatively to GDP growth, as exports rose by 6.1% (vs -12.4%) while imports increased at a faster 6.2% (vs -11.0%). Year-on-year, the economy shrank 3.7 percent, after a downwardly revised 8 percent drop in the second quarter. source: Statistics Denmark

GDP Growth Rate in Denmark averaged 0.38 percent from 1991 until 2020, reaching an all time high of 5.20 percent in the third quarter of 2020 and a record low of -7 percent in the second quarter of 2020. This page provides the latest reported value for - Denmark GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Denmark GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.

GDP Growth Rate in Denmark is expected to be -1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Denmark to stand at 0.90 in 12 months time. In the long-term, the Denmark GDP Growth Rate is projected to trend around 0.80 percent in 2021 and 0.50 percent in 2022, according to our econometric models.

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Denmark GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.20 -7.10 5.20 -7.10 1991 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-09-30 06:00 AM QoQ Final Q2 -6.8% -1.6% -6.9%
2020-11-13 07:00 AM QoQ Adv Q3 4.9% -6.8% 2.8%
2020-11-30 07:00 AM QoQ Prel Q3 4.9% -7.0% 2.8%
2020-12-23 07:00 AM QoQ Final Q3 5.2% -7.1% 4.9%
2021-02-15 07:00 AM QoQ Adv Q4 5.2%
2021-03-01 07:00 AM QoQ Prel Q4
2021-03-31 06:00 AM QoQ Final Q4
2021-05-14 06:00 AM QoQ Adv Q1
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Danish Q3 GDP Growth Rate Revised Up to 5.2%
The Danish economy advanced by 5.2 percent on quarter in the three months to September of 2020, the most since the series began in 1991, compared with the preliminary estimates of a 4.9 percent expansion, and rebounding sharply from an upwardly revised 7.1 percent fall in the previous period. Both fixed investment (3.3% vs -4.5% in Q2) and household consumption (4.6 percent vs -5.5 percent) rebounded sharply. Also, government spending recovered (1.0 percent vs -1.6 percent). Meantime, net external demand contributed negatively to GDP growth, as exports rose by 6.1% (vs -12.4%) while imports increased at a faster 6.2% (vs -11.0%). Year-on-year, the economy shrank 3.7 percent, after a downwardly revised 8 percent drop in the second quarter.
2020-12-23
Danish Economy Grows at Record Pace in Q3
The Danish economy expanded by 4.9 percent on quarter in the three months to September of 2020, the most since the series began in 1991, rebounding sharply from an upwardly revised 7 percent fall in the previous period, a preliminary estimate showed. Both fixed investment (3.3% vs -6.4% in Q2) and household consumption (4.3 percent vs -6.2 percent) rebounded sharply. Also, government spending recovered (1.0 percent vs -1.7 percent). Meantime, net external demand contributed negatively to GDP growth, as exports rose by 5.3% (vs -11.6%) while imports increased at a faster 5.4% (vs -11.9%). Year-on-year, the economy shrank 4 percent, after an upwardly revised 8.1 percent drop in the second quarter.
2020-11-30
Danish Q3 GDP Rebounds at Record Pace
The Danish economy grew by 4.9 percent on quarter in the three months to September of 2020, the most since the series began in 1991, after a 6.8 percent contraction in the previous period, a flash estimate showed. Positive contributions to GDP came from transport and business services; hotels and restaurants; information and communications; culture and leisure.
2020-11-13
Danish Economy Enters Recession
The Danish economy shrank by 6.8 percent on quarter in the three months to June of 2020, the most since the series began in 1991, better than the preliminary estimates of a 6.9 percent contraction, and compared to a downwardly revised 1.6 percent fall in the previous period. This was the second straight quarter of contraction as fixed investment contracted sharply (-6.4% vs 3.9% in Q1) and household consumption (-6.1 percent vs -2.9 percent) and government spending dropped further (-1.7 percent vs -1.9 percent). Also, net external demand contributed negatively to GDP growth, as both exports and imports declined sharply. Year-on-year, the economy shrank 7.7 percent, after a 0.1 percent fall in the first quarter.
2020-09-30

Denmark GDP Growth Rate
In Denmark, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by government expenditure (27 percent, the highest among EU countries) and gross fixed capital formation (19 percent). Exports of goods and services account for 54 percent of GDP while imports account for 48 percent, adding 6 percent of total GDP.