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||1991 - 2015
Located in Europe's most prosperous region, Denmark is the third largest oil producer in Western Europe, after Norway and the UK, and enjoys a key position in trading with the Nordic countries, Western and Central Europe, as well as the expanding economies of Eastern Europe. In fact, exports of goods and services account for 54 percent of its total GDP. In addition, the main uses of GDP are: private final consumption expenditure from households and NPISHs (49 percent); government final consumption expenditure (27 percent, the highest among EU countries); and gross fixed capital formation (19 percent). During the two years of economic contraction between 2012-13, the increased borrowing costs and lower export demand, consumer confidence, and investment worsened the prospects of an economic recovery, as Danes began paying off debts accumulated in the wake of the burst housing bubble. It was only in 2014 that Denmark's economy started expanding, as consumption appeared to be finally picking up, and home prices were increasing. Meanwhile, and despite the drop in global oil prices, growth forecasts for the next years remain positive as estimates from Danmarks Nationalbank suggest that the price decline could actually improve Denmark's economy by boosting private demand. This page provides - Denmark GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Denmark GDP Annual Growth Rate - was last refreshed on Saturday, October 10, 2015.