The Danish economy contracted by 0.5 percent on quarter in the three months to March of 2022, worse than the preliminary reading of a 0.1% contraction, and reversing from a downwardly revised 2.8% expansion in the previous period. It was the first contraction in the GDP since the first quarter of 2021, due to imposing COVID-19 restrictions. The contraction in the economy was dragged down by a decline in both household consumption (-2.1% vs -0.5% in Q4) and government spending (-1.8% vs 3.4%), while net external demand contributed negatively to the GDP, as exports fell 3.0 percent (vs 4.1% in Q4) while imports dropped at a softer 2.6% (vs 2.9% in Q4). In the meantime, fixed investment grew faster (4.0% vs 2.4% in Q4). Year-on-year, the economy advanced by 6.2 percent, following a downwardly revised 6.7 percent growth in the fourth quarter. 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 July 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
2022-05-31 06:00 AM QoQ Prel Q1 -0.1% 3% -0.1%
2022-06-30 06:00 AM QoQ Final Q1 -0.5% 2.8% -0.1%
2022-08-15 06:00 AM QoQ Adv Q2 -0.5% -0.5%


Related Last Previous Unit Reference
GDP Growth Rate -0.50 2.80 percent Mar 2022
GDP Annual Growth Rate 6.20 6.70 percent Mar 2022
GDP Constant Prices 565725.00 555074.00 DKK Million Mar 2022
Gross National Product 577737.00 584192.00 DKK Million Mar 2022
Gross Fixed Capital Formation 129784.00 121254.00 DKK Million Mar 2022
GDP From Mining 2751.00 2788.00 DKK Million Mar 2022
GDP From Manufacturing 82878.00 81983.00 DKK Million Mar 2022
GDP From Construction 25220.00 26833.00 DKK Million Mar 2022
GDP From Agriculture 5906.00 6129.00 DKK Million Mar 2022
GDP From Transport 90649.00 99255.00 DKK Million Mar 2022
GDP From Public Administration 98995.00 100656.00 DKK Million Mar 2022

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
-0.50 2.80 6.10 -6.40 1991 - 2022 percent Quarterly
SA

News Stream
Danish Economy Shrinks 0.5% QoQ in Q1
The Danish economy contracted by 0.5 percent on quarter in the three months to March of 2022, worse than the preliminary reading of a 0.1% contraction, and reversing from a downwardly revised 2.8% expansion in the previous period. It was the first contraction in the GDP since the first quarter of 2021, due to imposing COVID-19 restrictions. The contraction in the economy was dragged down by a decline in both household consumption (-2.1% vs -0.5% in Q4) and government spending (-1.8% vs 3.4%), while net external demand contributed negatively to the GDP, as exports fell 3.0 percent (vs 4.1% in Q4) while imports dropped at a softer 2.6% (vs 2.9% in Q4). In the meantime, fixed investment grew faster (4.0% vs 2.4% in Q4). Year-on-year, the economy advanced by 6.2 percent, following a downwardly revised 6.7 percent growth in the fourth quarter.
2022-06-30
Danish Economy Shrinks 0.1% in Q1
The Danish economy contracted by 0.1 percent on quarter in the three months to March of 2022, reversing from a 3.0% growth in the previous period, preliminary data showed. It was the first contraction in the GDP since the first quarter of 2021, due to imposing COVID-19 restrictions. The contraction in the economy was dragged down by a decline in both household consumption (-1.2% vs -0.8% in Q4) and government spending (-1.8% vs 2.6%), while net external demand contributed negatively to the GDP, with exports declining by 1.1 percent (vs 4.8% in Q4) while imports decreasing 2.1% (vs 1.1% in Q4). In the meantime, fixed investment grew faster (2.6% vs 2.4% in Q4). Year-on-year, the economy expanded by 6.7 percent, following a 6.8 percent growth in the fourth quarter.
2022-05-31
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