Charting Denmark 2Q 2021 - ECONOMY - Charting Economy
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Charting CEO’s Guide to
ECONOMY The Economy
Charting
Denmark
CEO’s Guide to The Economy
2Q 2021
To understand something, begin with questions,
not information
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CEO’s Guide to
© Charting Economy ECONOMY The Economy 2
This is a licensed product and is not to be photocopied
About Charting Economy
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economy. Our mission is to make it easier for busy executives
to understand the economy. Our active coverage includes
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ECONOMY The Economy 3
The Long View: the Why and How of Economic Growth
Why long-term economic growth? How to grow the economy in the long run?
To Improve the Living Standard Increase these 3 factors
Idea
Living
Standard
Capital
Per Capita
Income
Population
Gross (Labor)
Income
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CEO’s Guide to
© Charting Economy™ ECONOMY The Economy 4
This is a licensed product and is not to be photocopiedShort-term Objective: Balancing Growth and Stability
Employment Inflation
Net Export (X-M) Financial System
Investment (I) Fiscal Balance
Public BOP /
Consumption (G) External Debt
Private
Consumption (C) Exchange Rate
Growth Stability
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CEO’s Guide to
© Charting Economy™ ECONOMY The Economy 5
This is a licensed product and is not to be photocopiedThe Charting Economy Framework©
Understand Any Economy in 30 Questions or Less
The Long View The Short View
Economic Structure Competitiveness Development Economic Growth Macro Risks
• What is the size of Denmark’s • How competitive is Denmark? • What is the level of income for • What has been the growth rate • What have been the
economy? an average person in of Denmark’s economy over government measures against
• How are Denmark’s Denmark? the past ten years, and how the Covid-19 crisis?
• What is the size of Denmark’s competitive factors compared does it compare with others?
population? to those of other countries? • How has the unemployment • What is the risk of inflation
rate in Denmark changed over • What were the key growth over the next 12 months?
• What is the demographic • How has labor productivity in recent years? drivers for Denmark’s
structure of Denmark? Is it Denmark changed over the economy in the last year? • What is the latest move on
favorable for economic years, and in relation to • How is income distributed in Denmark’s monetary policy?
growth? comparable countries? Denmark, and how does it • How much does each sector
compare to others? contribute to the overall • What is the health of
• How has the structure of GDP • Is it easy to do business in growth? Denmark’s banking sector?
changed over the years? Denmark? • What is the current level of
human development in • What is the GDP growth rate in • What has been the trend in
• How much does Denmark’s • How good is Denmark in Denmark? the latest quarter? Denmark’s fiscal budget
economy rely on external attracting Foreign Direct deficit?
trade? Investment? • How has the quality of life • What are the latest signals
changed over the years? from the leading indicators? • Balance of Payment: Where
• Where are the key economic are the key risks?
regions in Denmark? • How many SDG has Denmark • What is the growth outlook for
achieved to date? Denmark’s economy over the • What is the FX risk? How has
• Economic Freedom Index: next three years, and how the currency performed
How free is Denmark’s does it compare with others? compared to others?
economy?
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CEO’s Guide to
© Charting Economy ECONOMY The Economy 6
This is a licensed product and is not to be photocopiedDenmark
Official name: Kingdom of Denmark
Brief history
• Once the seat of Viking raiders and later a major north European power, Denmark has evolved into a modern, prosperous nation that is
participating in the general political and economic integration of Europe
• It joined NATO in 1949 and the EEC (now the EU) in 1973
• However, the country has opted out of certain elements of the EU's Maastricht Treaty, including the European Economic and Monetary
Union, European defense cooperation, and issues concerning certain justice and home affairs.
Geography Population and society Government
Area: 43,094 sq km (#134 in the world) Population: Government type: parliamentary constitutional monarchy
5,894,687 (July 2021 est.)
Land boundaries: Capital: Copenhagen
• Germany 140 km Ethnic group:
Scandinavian, Inuit, Faroese, German, Turkish, Iranian, Somali Currency: Danish Krone (DKK)
Land Use (2011est.): Language:
• agriculture: 63.4% Chief of state: Queen MARGRETHE II
Danish, Faroese, Greenlandic (an Inuit dialect), German (small
• forest: 12.9% minority). Head of government: Prime Minister Mette FREDERIKSEN (since
• other: 23.7% Note: English is the predominant second language 27 June 2019)
Coastline: 7,314 km Religions: Cabinet: Council of State appointed by the monarch
Evangelical Lutheran (official) 80%, Muslim 4%, other
Irrigated land: 4,350 sq km (2012) (denominations of less than 1% each, includes Roman Catholic, Elections:
Jehovah's Witness, Serbian Orthodox Christian, Jewish, Baptist, • following legislative elections, the leader of the majority party or
Natural resources: and Buddhist) 16% (2012 est.) majority coalition usually appointed prime minister by the monarch
• last held on 5 June 2019 (next to be held on June 2023)
petroleum, natural gas, fish, arable land, salt, limestone, chalk,
stone, gravel and sand Working age population (15-64 yr): 63.7%
Population growth rate: 0.44% (2021 est.)
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CEO’s Guide to
ECONOMY The Economy 7
Source: CIA World factbook What is the size of Denmark’s economy?
1. Economic Structure What is the size of Denmark’s population?
2. Competitiveness
3. Economic Development What is the demographic structure of Denmark? Is it
4. Economic Growth favorable for economic growth?
5. Macro Risks How has the structure of GDP changed over the years?
Appendix 1: IMF’s forecast How much does Denmark’s economy rely on external
Appendix 2: Doing Business trade?
Where are the key economic regions in Denmark?
Part of the country’s economic profile, economic structure
section gives readers useful views to understand economic Economic Freedom Index: How free is Denmark’s
fundamental and determine what matters for the country’s
economy economy?
Charting
CEO’s Guide to
ECONOMY The Economy 8What is the size of Denmark’s economy?
Denmark is the 17th largest economy in Europe, slightly larger than
Finland
European Economies
2019 GDP, USD billion, Market Exchange Rate
Germany 3,862 Ukraine 155
UK 2,831 Slovakia 105
France 2,716 Luxembourg 71
Italy 2,001 Bulgaria 68
Russia 1,702 Belarus 63
Spain 1,394 Croatia 60
Netherlands 907 Lithuania 54
Turkey 761 Slovenia 54
Switzerland 705 Serbia 51
Poland 592 Latvia 34
Sweden 531 Estonia 31
Belgium 530 Cyprus 25
Austria 446 Iceland* 24
Norway* 403 Bosnia and Herzegovina* 20
Ireland 398 Georgia 18
Israel 395 Albania* 15
Denmark 347 Malta 15
Finland 269 Armenia 14
Czech Republic 251 North Macedonia 13
Romania 250 Moldova 12
Portugal 238 Kosovo 8
Greece 210 Montenegro 5
Hungary 161 San Marino* 2
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CEO’s Guide to
Note: (*) IMF Estimate ECONOMY The Economy 9
Source: IMF World Economic Outlook Database October 2020What is the size of Denmark’s population?
Population in Denmark is around the same size as those in Finland
and Norway
Population Population Growth
Selected countries, Million, July 2020 est. Avg. Annual Rate of Change, Medium fertility, 2020-2025
Germany 80.2 -0.064%
United Kingdom 65.8 0.405%
Netherlands 17.3 0.214%
Belgium 11.7 0.288%
Sweden 10.2 0.558%
Switzerland 8.4 0.642%
Denmark 5.9 0.370%
Finland 5.6 0.104%
Norway 5.5 0.831%
Ireland 5.2 0.683%
Iceland 0.4 0.574%
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ECONOMY The Economy 10
Source: CIA World Fact book, UN’s World Population Prospects: The 2019 RevisionWhat is the demographic structure of Denmark? Is it favorable for economic growth?
Denmark’s demographic structure is unfavorable for long-term
economic growth with shrinking working-age group
Demographic Structure Working-age group
2020, % of total population, Medium Fertility 15-64 Years, % of total population, Medium Fertility
100+
Male Female
90-94
80-84
70-74
60-64
6 6 6 5 5 6
4 3 5
50-54 1 0
% % 9 9 9
% % % %
%
40-44
30-34
20-24
10-14
0-4
4% 2% % 2% 4% 2020 2030 2040 2050
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Source: UN’s World Population Prospects: The 2019 RevisionCorporate License
America: USD 1800 (74% saving)
Argentina (4) Bolivia (2) Brazil (4) Canada (4)
Chile (4) Colombia (4) Costa Rica (2) Ecuador (2)
El Salvador (2) Honduras (2) Mexico (4) Panama (2)
Paraguay (2) Peru (4) United States (4) Uruguay (4)
Asia Pacific: USD 2500 (77% saving)
Australia (4) Azerbaijan (2) Bangladesh (2) Brunei (2)
Cambodia (2) China (4) Hong Kong (4) India (4)
Indonesia (4) Japan (4) Kazakhstan (2) Laos (2)
Malaysia (4) Mongolia (4) Myanmar (2) Nepal (2)
New Zealand (4) Pakistan (2) Philippines (4) Singapore (4)
South Korea (4) Sri Lanka (4) Taiwan (4) Thailand (4)
Vietnam (4)
Europe: USD 4100 (77% saving)
Albania (4) Armenia (4) Austria (4) Belarus (4)
Belgium (4) Bosnia and Herzegovina (4) Bulgaria (4) Croatia (4)
Cyprus (4) Czech republic (4) Denmark (4) Estonia (4)
Finland (4) France (4) Georgia (4) Germany (4)
Greece (4) Hungary (4) Iceland (4) Ireland (4)
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Luxembourg (4) Malta (4) Netherlands (4) Norway (4)
Poland (4) Portugal (4) Romania (4) Russia (4)
Serbia (4) Slovakia (4) Slovenia (4) Spain (4)
Sweden (4) Switzerland (4) Turkey (4) Ukraine (4)
to find all the answers
United Kingdom (4)
Middle East and Africa: USD 2500 (76% saving)
Algeria (2) Bahrain (2) Benin (2) Botswana (2)
Cameroon (2) Cote d'Ivoire (2) Egypt (2) Ethiopia (2)
Ghana (2) Guinea (2) Jordan (2) Kenya (2)
Individual Economy: USD 440 / year Kuwait (2) Mauritius (2) Morocco (2) Nigeria (4)
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Kindly contact cs@chartingeconomy.com Senegal (2) South Africa (4) Tanzania (2) UAE (2)
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