The Danish economy shrank by 1.0 percent on quarter in the three months to March of 2021, compared with a preliminary estimate of a 1.3 percent fall, reversing from an upwardly revised 0.9 percent expansion in the previous period, due to the partial lockdown measures to contain the spread of coronavirus. Both household consumption (-4.5% vs 0.9% in Q4 2020) and government spending (-2.9% vs 5.2%) contracted. Also, fixed investment shrank by 4.4 percent, reversing from a 9.0 percent growth in Q4. Meanwhile, net external demand contributed positively to the GDP growth, as exports grew by 3.9 percent (vs 0.1 percent in Q4) while imports fell 3.4 percent (vs 5.1% in Q4). Year-on-year, the economy contracted by 0.8 percent, following a revised 0.5 percent decline in the fourth quarter. source: Statistics Denmark
GDP Growth Rate in Denmark averaged 0.40 percent from 1991 until 2021, reaching an all time high of 6.30 percent in the third quarter of 2020 and a record low of -6.80 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 2021.
GDP Growth Rate in Denmark is expected to be 0.90 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 0.80 in 12 months time. In the long-term, the Denmark GDP Growth Rate is projected to trend around 0.70 percent in 2022 and 0.50 percent in 2023, according to our econometric models.