Overview: In 2018 Denmark was the number 36 economy in the world in terms of GDP (current US$), the number 37 in total exports, the number 35 in total imports, and the number 23 most complex economy according to the Economic Complexity Index (ECI). In 2018, Denmark exported $101B and imported $103B, resulting in a negative trade balance of -$1.93B. In 2018, Denmark's exports per capita were $17.5k and its imports per capita were $17.8k.
In 2018 Denmark exported a total of $101B, making it the number 37 exporter in the world. During the last five reported years the exports of Denmark have changed by $1.06B from $100B in 2013 to $101B in 2018.
In 2018 Denmark imported $103B, making it the number 35 trade destination in the world. During the last five reported years the imports of Denmark changed by $6.35B from $97B in 2013 to $103B in 2018.
In 2017, Denmark exported $64B worth of services. The top services exported by Denmark in 2017 were Transportation ($36B), Travel ($7.41B), Miscellaneous business, professional, and technical services ($6.7B), Computer and information services ($4.51B), and Royalties and license fees ($3.92B).
The top services imported by Denmark in 2017 were Transportation ($28.7B), Travel ($9.64B), Miscellaneous business, professional, and technical services ($7.65B), Computer and information services ($5.16B), and Construction services ($3.5B).
This section shows forecasts for total product exports and imports for Denmark. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Denmark are:109: Caribbean Forum (CARIFORUM) - European Union Economic Partnership Agreements (EPA)119: Customs Union between EU and Turkey121: Economic Partnership Agreement (EPA) between the EU and the Southern African Development Community (SADC) EPA Group122: EU preferential tariff for sugar producing countries123: European Union Generalized System of Preference124: European Union GSP for Least Developed Countries136: Most Favoured Nation duty rate treatement160: Preferential tariff for Albania161: Preferential tariff for Algeria162: Preferential tariff for Andorra172: Preferential tariff for Bosnia and Herzegovina177: Preferential tariff for Cameroon181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA182: Preferential tariff for Chile189: Preferential tariff for Colombia205: Preferential tariff for Ecuador206: Preferential tariff for Egypt209: Preferential tariff for EPA countries218: Preferential tariff for European Union countries222: Preferential tariff for Faroe Islands223: Preferential tariff for Fiji224: Preferential tariff for for occupied Palestinian territory226: Preferential tariff for Georgia227: Preferential tariff for Ghana238: Preferential tariff for Iceland239: Preferential tariff for India244: Preferential tariff for Israel247: Preferential tariff for Jordan249: Preferential tariff for Korea, Republic of255: Preferential tariff for Lebanon258: Preferential tariff for Liechtenstein262: Preferential tariff for Macedonia270: Preferential tariff for Mexico272: Preferential tariff for Montenegro273: Preferential tariff for Morocco281: Preferential tariff for Norway283: Preferential tariff for Overseas Countries and Territories284: Preferential tariff for Pakistan287: Preferential tariff for Papua New Guinea289: Preferential tariff for Peru293: Preferential tariff for San Marino295: Preferential tariff for Selected Eastern and Southern African countries(Madagascar, Mauritius, Seychelles and Zimbabwe)299: Preferential tariff for Singapore302: Preferential tariff for South Africa306: Preferential tariff for Switzerland308: Preferential tariff for Syria318: Preferential tariff for the republic of Moldova321: Preferential tariff for Tunisia325: Preferential tariff for Ukraine341: Preferential tariffs for countries benefiting from the special incentive arrangement for sustainable development and good governance
During the last 20 years Denmark's economy has become relatively less complex, moving from the 11th to the 23rd position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Denmark has a high level of specialization in Raw Furskins (67.3), Pigs (47), Enzymes (42.4), Foliage (18.5), and Electric Generating Sets (17.3). Specialization is measured using RCA, an index that takes the ratio between Denmark observed and expected exports in each product.
The top export opportunities for Denmark according to the relatedness index, are Densified Wood (0.4), Ice Cream (0.4), Hard Liquor (0.4), Recreational Boats (0.4), and Brochures (0.39). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Denmark is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Denmark
