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 0.40 0.5 0.6 0.4 0.6 0.5 percent
Unemployment Rate 4.00 4.4 4.6 4.6 4.7 5.1 percent
Inflation Rate 1.10 1.4 1.6 1.8 1.9 2.1 percent
Interest Rate -0.65 -0.5 -0.5 -0.5 -0.5 0.25 percent
Balance of Trade 3771.90 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
6.52 6.64 6.76 6.88 7.39
Stock Market 1011.50
points
937 907 877 849 744
Government Bond 10Y 0.34
percent
0.38 0.46 0.55 0.66 1.36
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.40
percent
0.5 0.6 0.4 0.6 0.5
GDP Annual Growth Rate -0.60
percent
2.5 2.6 2.4 2.3 2.4
GDP 324.87
USD Billion
330 320 340 340 348
GDP Constant Prices 501747.00
DKK Million
501197 512629 513789 510596 538055
Gross National Product 514527.00
DKK Million
514715 526439 526876 527703 552550
Gross Fixed Capital Formation 104296.00
DKK Million
105085 107159 106799 104264 112474
GDP per capita 61582.17
USD
62500 62500 63000 63000 62700
GDP per capita PPP 46682.51
USD
46795 46997 46106 46106 47597
GDP From Agriculture 5397.00
DKK Million
6792 6587 5527 5981 6914
GDP From Construction 20383.00
DKK Million
21941 22701 20872 21930 23827
GDP From Manufacturing 58839.00
DKK Million
61043 62817 60251 66194 65933
GDP From Mining 5987.00
DKK Million
7554 6746 6131 7612 7081
GDP From Public Administration 99856.00
DKK Million
99350 102691 102253 100719 107785
GDP From Transport 80178.00
DKK Million
87265 90282 82102 90281 94760
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 4.00
percent
4.4 4.6 4.6 4.7 5.1
Employed Persons 2750.00
Thousand
2764 2764 2758 2768 2766
Unemployed Persons 109305.00
106896 105511 104444 103621 101067
Long Term Unemployment Rate 1.20
percent
1.15 1.15 1.12 1.11 1.1
Youth Unemployment Rate 10.10
percent
10.14 10.34 10.27 10.31 10.3
Labour Costs 108.20
Index Points
109 109 109 109 110
Productivity 128.02
Index Points
126 127 127 127 127
Wages 40101.77
DKK/Month
41151 41151 41800 41010 42200
Wages in Manufacturing 137.90
Index Points
140 143 145 143 155
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 69.10
percent
69.18 69.19 69.19 69.19 69.19
Part Time Employment 700.10
Thousand
691 693 696 698 695
Employment Change 0.50
percent
0.44 0.44 0.46 0.44 0.45
Employment Rate 65.50
percent
65.6 65.61 65.62 65.62 65.62
Full Time Employment 2048.30
Thousand
2096 2088 2068 2074 2089
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 1.10
percent
1.4 1.6 1.8 1.9 2.1
Harmonised Consumer Prices 101.90
Index Points
103 103 103 104 107
Consumer Price Index CPI 102.30
Index Points
103 103 104 104 107
Core Consumer Prices 102.30
Index Points
103 102 103 103 104
Core Inflation Rate 0.70
percent
0.7 0.7 0.7 0.7 0.7
GDP Deflator 107.09
Index Points
108 108 108 108 110
Producer Prices 111.10
Index Points
111 113 111 114 118
Export Prices 118.80
Index Points
118 118 118 118 118
Import Prices 118.70
Index Points
118 118 118 118 118
Food Inflation 0.00
percent
-0.21 -0.21 -0.21 1.89 -0.21
Inflation Rate Mom -0.10
percent
0.07 0.08 0.06 0.07 0.07
Producer Prices Change 2.60
percent
2.62 2.7 2.23 2.25 2.5
CPI Transportation 102.80
Index Points
102 102 102 105 107
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate -0.65
percent
-0.5 -0.5 -0.5 -0.5 0.25
Interbank Rate -0.30
percent
-0.15 -0.15 -0.15 -0.15 0.6
Money Supply M0 63026.50
DKK Million
62452 62582 62539 62550 62545
Money Supply M1 1231129.00
DKK Million
1239526 1247024 1249253 1251138 1253025
Money Supply M2 1323057.00
DKK Million
1319615 1325234 1327325 1329130 1332481
Money Supply M3 1519158.00
DKK Million
1497248 1497949 1495782 1495544 1495169
Banks Balance Sheet 3875545.50
DKK Million
3882839 3869285 3894823 3873040 3874415
Foreign Exchange Reserves 468100.00
DKK Million
467886 467887 467886 467887 467886
Loans to Private Sector 357.23
DKK Billion
363 363 363 363 363
Private Debt to GDP 273.77
percent
275 275 276 276 279
Central Bank Balance Sheet 506.17
DKK Billion
505 505 505 505 505
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 3771.90
DKK Million
9800 3400 9500 7400 3500
Exports 57216.90
DKK Million
62000 54000 68000 61500 58000
Imports 53445.00
DKK Million
52200 50600 58500 54100 54500
Current Account 15467.00
DKK Million
11500 10600 5100 16400 6200
Current Account to GDP 7.90
percent
6 6 5.9 5.9 5.6
External Debt 3271.00
DKK Million
3287 3256 3226 3197 2972
Terms of Trade 99.00
Index Points
99.67 99.7 99.7 99.7 99.7
Capital Flows 87.00
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 112.00
BBL/D/1K
121 121 121 121 121
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 130806.00
DKK Million
130987 133964 133945 132222 140608
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 670.44
DKK Billion
667 667 667 667 667
Fiscal Expenditure 281590.00
DKK Million
282300 288456 285752 288890 291723
Military Expenditure 3700.51
USD Million
3654 3656 3650 3644 3627
Asylum Applications 260.00
persons
416 394 385 388 390
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 2.00
Index Points
1 3 4 2.66 -2
Industrial Production -1.70
percent
-6.9 4.5 9.5 1.2 2.5
Industrial Production Mom -1.80
percent
-2 1 -0.6 0.7 0.7
Manufacturing Production 3.10
percent
2.09 2.15 2.14 2.15 2.15
Capacity Utilization 81.10
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 3312.00
DKK Million
3481 3221 3230 3217 3098
Bankruptcies 624.00
Companies
578 621 623 623 623
Car Registrations 22565.00
19503 19416 19812 19752 19743
Internet Speed 20105.69
KBps
23200 23699 24194 24684 29344
IP Addresses 2624652.00
IP
2629224 2633510 2633992 2632720 2633970
Manufacturing Pmi 49.70
55.9 56 55.4 55.1 54
Mining Production -17.60
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 1630.00
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 10.60
Index Points
10.31 5.1 10.31 10.31 4.4
Retail Sales MoM 0.90
percent
0.19 0.16 0.16 0.16 0.16
Retail Sales YoY 3.90
percent
1.6 0.5 1.64 1.63 0.6
Consumer Spending 225452.00
DKK Million
225253 231314 230863 230309 242787
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 18978.00
DKK Million
19055 19099 19101 19125 19191
Gasoline Prices 1.98
USD/Liter
1.87 1.77 1.67 1.58 1.16
Households Debt To Gdp 115.60
percent of GDP
114 114 113 113 112
Households Debt To Income 243.95
percent
241 241 241 240 235
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Construction Output -6.80
percent
1.82 2.31 2.41 2.43 2.42
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 55.8 238 298 56
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