Denmark2019 Economic Complexity : 1.07, Rank 25 of 146
2019 Product Exports | Imports: $104B | $98.9B, 37 of 225 | 35 of 225
2019 Per Capita Product Exports | Imports: $18k | $17k, 16 of 219 | 15 of 219
2017 Service Exports | Imports : $64B | $58.6B, 22 of 139 | 23 of 139
Overview: In 2019 Denmark was the number 37 economy in the world in terms of GDP (current US$), the number 37 in total exports, the number 35 in total imports, the number 11 economy in terms of GDP per capita (current US$) and the number 25 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Denmark are Packaged Medicaments ($13.1B), Electric Generating Sets ($3.03B), Pig Meat ($2.86B), Refined Petroleum ($2.39B), and Blood, antisera, vaccines, toxins and cultures ($1.95B), exporting mostly to Germany ($14.6B), United States ($11.3B), Sweden ($10.3B), United Kingdom ($7.43B), and Norway ($5.8B).
In 2019, Denmark was the world's biggest exporter of Enzymes ($1.27B), Pigs ($1.23B), and Raw Furskins ($728M)
Imports: The top imports of Denmark are Cars ($5.2B), Refined Petroleum ($4.5B), Packaged Medicaments ($3.34B), Crude Petroleum ($2.36B), and Broadcasting Equipment ($2.13B), importing mostly from Germany ($21B), Sweden ($11.1B), Netherlands ($7.43B), China ($6.97B), and Norway ($4.43B).
Location: Denmark borders Germany by land and Norway, Poland, Sweden, and United Kingdom by sea.
Top Export (2019): Packaged Medicaments, $13.1B
Top Destination (2019): Germany, $14.6B
In 2019, Denmark exported a total of $104B, making it the number 37 exporter in the world. During the last five reported years the exports of Denmark have changed by -$1.71B from $106B in 2014 to $104B in 2019.
The most recent exports are led by Packaged Medicaments ($13.1B), Electric Generating Sets ($3.03B), Pig Meat ($2.86B), Refined Petroleum ($2.39B), and Blood, antisera, vaccines, toxins and cultures ($1.95B). The most common destination for the exports of Denmark are Germany ($14.6B), United States ($11.3B), Sweden ($10.3B), United Kingdom ($7.43B), and Norway ($5.8B).
In 2019 Denmark imported $98.9B, making it the number 35 trade destination in the world. During the last five reported years the imports of Denmark changed by -$1.75B from $101B in 2014 to $98.9B in 2019.
The most recent imports of Denmark are led by Cars ($5.2B), Refined Petroleum ($4.5B), Packaged Medicaments ($3.34B), Crude Petroleum ($2.36B), and Broadcasting Equipment ($2.13B). The most common import partners for Denmark are Germany ($21B), Sweden ($11.1B), Netherlands ($7.43B), China ($6.97B), and Norway ($4.43B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Denmark Exports Services (2017): $64B
Denmark Imports Services (2017): $58.6B
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).
The top product import tariffs by their MFN Ad Valorem value for Denmark are Sugar beet (178%) and Whey (173%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Denmark are:
Denmark has a high level of specialization in Raw Furskins (62.2), Pigs (50.9), Enzymes (39.5), Electric Generating Sets (22.5), and Fishing Ships (16.8). Specialization is measured using RCA, an index that takes the ratio between Denmark observed and expected exports in each product.
The highest complexity exports of Denmark according to the product complexity index (PCI) are Machines nes having individual functions (2.05), Equipment for physical and chemical analysis (1.72), Metal pickling preps, solder, brazing flux, weld cores (1.7), Machines for testing mechanical properties of material (1.64), and Shafts, cranks, gears, clutches, flywheel, pulleys etc (1.6). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Denmark according to the relatedness index, are Recreational Boats (0.39), Ice Cream (0.38), Hard Liquor (0.38), Densified Wood (0.38), and Glass Scraps (0.38). 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.
During the last 20 years Denmark's economy has become relatively less complex, moving from the 13th to the 25th 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.
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