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Economy of Denmark


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EU average of 9.6%.

Denmark's currency, the krone, is pegged at approximately 7.46 kroner per euro through the ERM. Although a September 2000 referendum rejected adopting the euro, the country in practice follows the policies set forth in the Economic and Monetary Union of the European Union and meets the economic convergence criteria needed to adopt the euro. The majority of the political parties in the parliament are for the euro, but as yet a new referendum has not been held, despite plans; skepticism of the EU among Danish voters has historically been strong. Denmark is known for the Danish cooperative movement within among others farming, the food industry (Danish Crown), dairy production (Arla Foods), retailing (Brugsen), wind turbine cooperatives and co-housing associations.

Support for free trade is high – in a 2007 poll 76% responded that globalisation is a good thing. 70% of trade flows are inside the European Union. Denmark has the 9th highest export per capita in the world. Denmark's main exports are: industrial production/manufactured goods 73.3% (of which machinery and instruments were 21.4%, and fuels, chemicals, etc. 26%); agricultural products and others for consumption 18.7% (in 2009 meat and meat products were 5.5% of total export; fish and fish products 2.9%). Denmark is a net exporter of food and energy and has for a number of years had a balance of payments surplus while battling an equivalent of approximately 39% of GNP foreign debt or more than 300 billion DKK.

StatBank is the name of a large statistical database maintained by the central authority of statistics in Denmark. Online distribution of statistics has been a part of the dissemination strategy in Denmark since 1985. By this service, Denmark is a leading country in the world regarding electronic dissemination of statistics. There are about 2 million hits every year.

Energy

Denmark has considerable sources of oil and natural gas in the North
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