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2022
Economic Complexity
Trade 1.01Rank 27 of 133
2021
Economic Complexity
Technology 1.02Rank 19 of 96
2022
Economic Complexity
Research 1.79Rank 12 of 135
2022
Product
Exports | Imports $122B | $126B37 of 226 |  37 of 226
2022
Per Capita Product
Exports | Imports $20.6k | $21.3k19 of 220 |  21 of 220

About

Overview In 2022, Denmark was the number 39 economy in the world in terms of GDP (current US$), the number 37 in total exports, the number 37 in total imports, the number 10 economy in terms of GDP per capita (current US$) and the number 27 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Denmark are Packaged Medicaments ($15.9B), Electricity ($3.66B), Refined Petroleum ($3.01B), Pig Meat ($2.89B), and Vaccines, blood, antisera, toxins and cultures ($2.06B), exporting mostly to Germany ($18.9B), United States ($13.1B), Sweden ($11.6B), Netherlands ($7.26B), and Norway ($6.53B).

In 2022, Denmark was the world's biggest exporter of Enzymes ($1.54B) and Pigs ($932M)

Imports The top imports of Denmark are Cars ($5.61B), Refined Petroleum ($3.87B), Electricity ($3.75B), Packaged Medicaments ($3.67B), and Crude Petroleum ($3.41B), importing mostly from Germany ($25.4B), Sweden ($14.6B), China ($10.9B), Netherlands ($10.5B), and Norway ($6.43B).

Location Denmark borders Germany by land and Norway, Poland, Sweden, and United Kingdom by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Packaged Medicaments$15.9B
Top Destination (2022)Germany$18.9B

In 2022, Denmark exported a total of $122B, making it the number 37 exporter in the world. During the last five reported years the exports of Denmark have changed by $25.5B from $96.3B in 2017 to $122B in 2022.

The most recent exports are led by Packaged Medicaments ($15.9B), Electricity ($3.66B), Refined Petroleum ($3.01B), Pig Meat ($2.89B), and Vaccines, blood, antisera, toxins and cultures ($2.06B). The most common destination for the exports of Denmark are Germany ($18.9B), United States ($13.1B), Sweden ($11.6B), Netherlands ($7.26B), and Norway ($6.53B).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
Germany$2.48B (+ 15.1%)
United States$751M (+ 6.06%)
Netherlands$454M (+ 6.67%)
Fastest Growing Import Markets (2021 - 2022)
Norway$1.66B (+ 34.8%)
Germany$810M (+ 3.29%)
United States$663M (+ 16.8%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Denmark Exports Services (2020)$69B
Denmark Imports Services (2020)$59.5B

In 2020, Denmark exported $69B worth of services. The top services exported by Denmark in 2020 were Sea transport ($36.3B), Miscellaneous business, professional, and technical services ($8.52B), Other transport ($4.74B), Other royalties and license fees ($3.94B), and Construction abroad ($3.68B).

The top services imported by Denmark in 2020 were Sea transport ($25.7B), Miscellaneous business, professional, and technical services ($11B), Other transport ($5.08B), Personal travel ($4.02B), and Air transport ($1.94B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)1.01Rank 27 of 133
Economic Complexity (Technology)1.02Rank 19 of 96
Economic Complexity (Research)1.79Rank 12 of 135

Most Specialized Products by RCA Index

Denmark has a high level of specialization in Pigs (48.3), Enzymes (41.5), Raw Furskins (32.6), Fishing Ships (21), and Plant foliage (18.3). Specialization is measured using RCA, an index that takes the ratio between Denmark observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Denmark according to the product complexity index (PCI) are Machinery and mechanical appliances; having individual functions, n.e.c. in this chapter (1.89), Instruments and apparatus; for physical or chemical analysis (e.g. polarimeters, spectrometers), for... (1.68), Engravings, prints and lithographs; original (1.62), Machine-tools; for deburring, sharpening, grinding, honing, lapping, polishing or otherwise finishing metal,... (1.52), and Knives and cutting blades, for machines or for mechanical appliances (1.45). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Denmark according to the relatedness index, were Hard Liquor (0.41), Recreational Boats (0.41), Ice Cream (0.41), Fermented Milk Products (0.41), and Water (0.4). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Denmark is not specialized in.

Product Space

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.

Relatedness Space

This network shows the products most related to the production structure of Denmark. These are products that tend to be co-exported with the products that Denmark exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Denmark's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨16th 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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ECI (Trade) Ranking by Country

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