The Danish economy shrank by 0.1 percent on quarter in the three months to March of 2022, after a 3.0% growth in the previous period, a flash estimate showed. It was the first contraction in the GDP since the first quarter of 2021, due to imposing COVID-19 restrictions. Negative contributions to the GDP came from the public service industries. The growth in industries such as industry, construction and business services, was not enough to offset the decline in the public and service industries. source: Statistics Denmark

GDP Growth Rate in Denmark averaged 0.45 percent from 1991 until 2022, reaching an all time high of 6.10 percent in the third quarter of 2020 and a record low of -6.40 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 May of 2022.

GDP Growth Rate in Denmark is expected to be -0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Denmark GDP Growth Rate is projected to trend around 0.60 percent in 2023 and 0.50 percent in 2024, according to our econometric models.

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Denmark GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-31 06:00 AM QoQ Final Q4 3% 1.4% 1.1%
2022-05-16 06:00 AM QoQ Adv Q1 -0.1% 3% 0.4%
2022-05-31 06:00 AM QoQ Prel Q1 3% -0.1%


Related Last Previous Unit Reference
GDP Growth Rate -0.10 3.00 percent Mar 2022
GDP Annual Growth Rate 6.80 3.80 percent Dec 2021
GDP Constant Prices 555074.00 546905.00 DKK Million Dec 2021
Gross National Product 584192.00 572246.00 DKK Million Dec 2021
Gross Fixed Capital Formation 121254.00 125429.00 DKK Million Dec 2021
GDP From Transport 99255.00 91101.00 DKK Million Dec 2021
GDP From Public Administration 100656.00 96938.00 DKK Million Dec 2021
GDP From Mining 2788.00 3301.00 DKK Million Dec 2021
GDP From Manufacturing 81983.00 77488.00 DKK Million Dec 2021
GDP From Construction 26833.00 25242.00 DKK Million Dec 2021
GDP From Agriculture 6129.00 6502.00 DKK Million Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
-0.10 3.00 6.10 -6.40 1991 - 2022 percent Quarterly
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News Stream
Danish Economy Shrinks 0.1% QoQ in Q1
The Danish economy shrank by 0.1 percent on quarter in the three months to March of 2022, after a 3.0% growth in the previous period, a flash estimate showed. It was the first contraction in the GDP since the first quarter of 2021, due to imposing COVID-19 restrictions. Negative contributions to the GDP came from the public service industries. The growth in industries such as industry, construction and business services, was not enough to offset the decline in the public and service industries.
2022-05-16
Danish Q4 GDP Growth Revised Higher
The Danish economy expanded by 3.0 percent on quarter in the three months to December of 2021, compared to the preliminary estimate of 1.1 percent, and accelerating from an upwardly revised 1.4 percent gain in the previous period. It was the third straight quarter of expansion in the GDP, due to easing COVID-19 restrictions. Net external demand contributed positively to the GDP growth, as exports rose by 5.1 percent (vs 1.3% in Q3) while imports grew at a much softer 1.4% (vs 1.4% in Q3), while both government spending (2.6% vs -4,5% in Q3) and fixed investment (2.1% vs -1.2% in Q3) rebounded sharply. In the meantime, household consumption contracted (-1.0% vs 2.6% in Q3). Year-on-year, the economy advanced by 6.8 percent, accelerating from an upwardly revised 3.8 percent growth in the third quarter. For 2021 full year, the economy grew by 4.7 percent, the fastest pace since 1994, and rebounding sharply from a 2.1 percent fall in 2020.
2022-03-31
Danish GDP Growth Eases Slightly to 1.1% in Q4
The Danish economy expanded by 1.1 percent on quarter in the three months to December of 2021, easing slightly from an upwardly revised 1.2 percent gain in the previous period, a preliminary estimate showed. It was the third straight quarter of expansion in the GDP, due to easing COVID-19 restrictions. Government spending rebounded (2.5% vs -3.9% in Q3) while net external demand contributed positively to the GDP growth, as exports rose by 6.2 percent (vs 1.1% in Q3) while imports grew at a much softer 1.6% (vs 2.0% in Q3). Meanwhile, both household consumption (-2.8% vs 2.7% in Q3) and fixed investment (-0.7% vs -1.8% in Q3) contracted. Year-on-year, the economy advanced by 4.4 percent, accelerating from an upwardly revised 3.7 percent growth in the third quarter. For 2021 full year, the economy grew by 4.1 percent, the fastest pace since 1994, and rebounding sharply from a 2.1 percent fall in 2020.
2022-02-28