Introduction

Once the seat of Viking raiders and later a major north European power, Denmark has changed into a modern and wealthy nation. Denmark contributes in the general political, economic integration of Europe. It joined NATO in 1949 and the EEC (now the EU) in 1973. However, the country has opted out of certain elements of the European Union’s Maastricht Treaty, including the European Economic and Monetary Union (EMU), European defence cooperation, and issues concerning certain justice and home affairs (the-world-factbook, 2015). The currency in Denmark is thus still the Danish Krone (DKK) and not the Euro although the Krone is closely attached to the Euro (danish-business-and-economy, 2015).

Gross Domestic Product

From the year 2004 to 2014, the Gross Domestic product and Gross National Product for the country have improved tremendously. GDP measures the income of a particular nation and the income of that country within a period. The GNP for Denmark per capital income has also increased tremendously for the past years (Economic Research, 2015).

In the year 2010, the GDP for the country was the highest than the previous years and the following years. The government has successfully implemented the macroeconomics tools and has achieved the goals and objectives, and the lagging on the economy adjustment was over. In order to achieve these plans, in the year 2007 when the country suffered from depression, the government undertook some measures (Economic Research, 2015). It introduced the capital expenditures that saw a lot of people employed which increased the per capita income. The commercial banks kept the interest rates at lower so that a lot of people accessed the funds to startup businesses and invested in other sectors. Though after the year 2009 the GDP fell a little bit, the fall was significant as the market and the businesses were getting saturated. 2010 and 2011 can be seen as the recovery after the recession and an improvement in the GDP. Then we notice a good growth the year after, before falling again in 2013. The GDP in 2014 had a good year in 2014 with a good recovery which put it 330.8 billion U.S.

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• GDP per Capita

This entry shows GDP on a purchasing power parity basis. GDP for Denmark will not fall below 56,000 dollars unless the world incurs another great depression. 

The GDP per Capita in Denmark is equivalent to 366 percent of the world’s average. GDP per capita in Denmark averaged 34502.32 USD from 1960 until 2013, reaching an all-time high of 49554.91 USD in 2007 before falling to 45862.77 in 2010.

The Central Bank forecast growth of 1.7% in 2015 and 2.0% in 2016. FocusEconomics Consensus Forecast panellists expect economic growth of 1.6% in 2015, which is unchanged from last month’s forecast. For 2016, panellists believe an expansion of 1.9% (denmark/interest-rate, 2015).