Denmark2020 Economic Complexity : 0.97, Rank 27 of 127
2020 Product Exports | Imports: $102B | $97.2B, 35 of 226 | 35 of 226
2020 Per Capita Product Exports | Imports: $17.4k | $16.7k, 10 of 219 | 13 of 219
2018 Service Exports | Imports : $106B | $93.4B, 25 of 125 | 25 of 125
Overview In 2020 Denmark was the number 34 economy in the world in terms of GDP (current US$), the number 35 in total exports, the number 35 in total imports, the number 9 economy in terms of GDP per capita (current US$) and the number 27 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Denmark are Packaged Medicaments ($14.5B), Pig Meat ($3.21B), Electric Generating Sets ($2.4B), Blood, antisera, vaccines, toxins and cultures ($1.73B), and Cheese ($1.71B), exporting mostly to Germany ($13.7B), United States ($11.3B), Sweden ($9.45B), Netherlands ($6.21B), and United Kingdom ($5.83B).
In 2020, Denmark was the world's biggest exporter of Enzymes ($1.44B), Pigs ($1.23B), and Raw Furskins ($326M)
Imports The top imports of Denmark are Cars ($5.24B), Packaged Medicaments ($3.74B), Broadcasting Equipment ($2.33B), Computers ($2.25B), and Refined Petroleum ($2.14B), importing mostly from Germany ($20.8B), Sweden ($11.6B), Netherlands ($7.95B), China ($7.52B), and Poland ($4.49B).
In 2020, Denmark was the world's biggest importer of Raw Furskins ($209M)
Location Denmark borders Germany by land and Norway, Poland, Sweden, and United Kingdom by sea.
The following section uses the most recent trade data from partners of Denmark.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Packaged Medicaments, $14.5B
Top Destination (2020): Germany, $13.7B
In 2020, Denmark exported a total of $102B, making it the number 35 exporter in the world. During the last five reported years the exports of Denmark have changed by $11.5B from $90.2B in 2015 to $102B in 2020.
The most recent exports are led by Packaged Medicaments ($14.5B), Pig Meat ($3.21B), Electric Generating Sets ($2.4B), Blood, antisera, vaccines, toxins and cultures ($1.73B), and Cheese ($1.71B). The most common destination for the exports of Denmark are Germany ($13.7B), United States ($11.3B), Sweden ($9.45B), Netherlands ($6.21B), and United Kingdom ($5.83B).
In 2020 Denmark imported $97.2B, making it the number 35 trade destination in the world. During the last five reported years the imports of Denmark changed by $12.4B from $84.8B in 2015 to $97.2B in 2020.
The most recent imports of Denmark are led by Cars ($5.24B), Packaged Medicaments ($3.74B), Broadcasting Equipment ($2.33B), Computers ($2.25B), and Refined Petroleum ($2.14B). The most common import partners for Denmark are Germany ($20.8B), Sweden ($11.6B), Netherlands ($7.95B), China ($7.52B), and Poland ($4.49B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Denmark Exports Services (2018): $106B
Denmark Imports Services (2018): $93.4B
In 2018, Denmark exported $106B worth of services. The top services exported by Denmark in 2018 were Transportation ($55.1B), Construction services ($13.6B), Travel ($12.7B), Other business services ($12.3B), and Royalties and license fees ($4.64B).
The top services imported by Denmark in 2018 were Transportation ($44B), Other business services ($15.2B), Travel ($14.6B), Construction services ($8.19B), and Computer and information services ($5.33B).
The top product import tariffs by their MFN Ad Valorem value for Denmark are Vermouth and other flavoured grape wines - pack > 2l (72.3k%)and Vermouth and other flavoured grape wines - pack > 2l (50.6k%).
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 (48.8), Pigs (44.4), Enzymes (38.5), Electric Generating Sets (17.4), and Foliage (16.7). 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 Machine-tools for shaping metals, nes (2.09), Machines nes having individual functions (1.95), Equipment for physical and chemical analysis (1.75), Sharpening, honing, lapping, grinding machine tools (1.63), and Metal pickling preps, solder, brazing flux, weld cores (1.61). 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 Hard Liquor (0.39), Ice Cream (0.39), Recreational Boats (0.39), Rough Wood (0.38), and Perfumes (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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Denmark's economy has become relatively less complex, moving from the 13th to the 27th 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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